Yet another Euro summit...so many false peaks: it will not end until it is put out of its misery; what John Redwood says today is the plain and simple truth (as always): "The Euro is not worth a single pound of UK taxpayers money. The money tree is wilting and the reason is clear: Euro countries have overspent and borrowed far too much; there is no more money.
"The Euro remains an orphan currency in search of a country to look after it and support it. Creating a country called Euroland is taking too long for the good of its currency. The rich areas and countries are not willing to prop up all the poorer and weaker countries and institutions. There are now five countries needing special measures and special subsidised loans. It cannot go on like this".
3 comments:
Whilst agreeing about the waste of money there is a certain irony in us Brits moaning about what is essentially a business meeting as I believe that we were once the leaders in having management meetings to sort things out.
I suppose the ultimate endgame is that Germany and Austria have their own Euro and the French speaking (France, Belgium, Luxembourg) countries have their Euro 2.0 and everybody else apart from the Dutch goes bust.
I think we should have a Saxon/Viking/Nordic group with Germany, Netherlands, Scandinavia (inc Norway, Swiss and UK) and a Latin/South Mediterranean one (France, Italy, Spain, Portugal Greece etc)
haha
The French would love that!
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