Good Money after Bad

Having participated in the EU bail out of  Ireland - the UK's share was nearly £8 billion - the madness continues and the we are now about to contribute some £4.4 billion towards the EU bail out of Portugal. 

We will not see this money again, any more than we will see the Irish bail out monies.  Portugal's debts are growing faster than its GDP; until that process is reversed there will be no prospect of debt repayment.  If, and its a big if, debt repayment ever happens the IMF will be first in line for repayment.  Prudence (remember her) suggests that we are not going to get this money back, ever. 

By a strange coincidence the total bailout money spent so far - there is more to come; Spain, Italy and Belgium are all candidates for bailouts - in propping up the Euro is exactly twice the £6.2 billion savings made by cuts in government budgets.

Forget the March for the Alternative, how about a March for no Bailouts
Best Wishes
Will