« Gray Ice Science | Main | No Snow Blast From The Past »

They made their beds

Desperate fight to save the euro - Europe, World - The Independent

The euro plunged further into crisis yesterday as investors sold off Spanish, Portuguese and Belgian government bonds in record numbers on renewed fears that those nations would follow Greece and Ireland into the financial emergency ward, undermining confidence in the single currency.
The spreading contagion suggests that the markets now view the break-up of the euro as a realistic possibility, and that "shock and awe" efforts to shore up individual economies with huge bailouts have not succeeded in insulating their neighbours from infection. Spain, in particular, is regarded as being "too big to save". Should Spain eventually need assistance it would also imply a much larger UK bilateral loan than the £8bn offered to Ireland – perhaps £20bn or £30bn.

Am I being xenophobic to suggest we just tell them all to just fuck off. The crash will hurt us enough already without having to bail out the stupid and greedy as well.

Comments

"Lending" money to a person, organisation or country who has no means of making repayments is in reality giving them the money. Dressing it up as a loan with a requirement to pay back merely prolongs the agony and further impoverishes the recipients. If the EU honestly wishes to support Greece, Ireland etc. it should simply give them money- but it wont, because the German tax payer would not put up with that.

Germany is the paymaster of Europe and now the Republic of Ireland will be owned by the Germans. It is fitting considering Eire favoured Germany during WW2.

Post a comment