Four Precious Days to unravel Twelve Years of Madness

Almost a year ago on 30th November 2010 I wrote

"I will be surprised if the euro still exists in it's current form in 2012 never mind 2013."

 While few would deny that it has been a tough year for the euro; it is still with us.  Will it make it into 2012?  I wouldn't bet on it and here's why.

The euro  is run by Germany; France dances around as if they are somehow important but basically Sarkozy is just a performing poodle, Merkel is the show girl, she calls the shots. 

Most of the past six months have been spent with world leaders notably China, USA - yes the UK as well - telling Angela Merkel to get a grip on the problem, by which they mean Germany must underwrite the debts of other euro zone countries.  Merkel meanwhile has been ignoring these pleas and relying on shovelling austerity medicine down the throats of Ireland, Italy, Greece and Portugal.  It's not been a pretty sight we have had bloodless coups in Italy and Greece which are now governed by unelected off shoots of the EU and we have had riots mainly in Greece but also in Italy, Spain and Portugal.  The really bad news is that the austerity medicine is not working Greece is just a couple of weeks away from default - it won't happen more taxpayers money will be thrown into the black hole - Portugal needs a second bailout and interest rates on Italian debt have nudged eight percent. 

It all change this week when the really powerful people told Merkel to get a grip on the situation.  The bond markets spoke when they failed to invest in German bonds to the tune of over €2 billion.  As a consequence interest rates on German bonds rose above UK gilts.  Merkel will not ignore these voices.

Merkel now knows austerity measures for the PIGS will not work on their own.  She must either gamble the economic prowess of Germany by underwriting the debts of all euro zone countries.  A decision that will be hugely unpopular in Germany and will certainly end her political career.  Alternatively Merkel can attempt to unravel the euro in a controlled manner; this is also a high risk option but she may well believe that at least the risks are shared with the other euro zone countries, not to mention most of the rest of the world.  That way everyone has a stake in a successful outcome.

Banks across Europe and many other countries around the world will close on Friday 23rd December and not reopen until Wednesday 28th December.  Four precious days to unravel twelve years of madness.

I'm sticking with my prediction.

Best Wishes

Will

Not Once in 32 years

Update to my earlier post; I have just found this graph on the Daily Mail web site. 

Over the years this adds up to a fair bit.
Best Wishes
Will

What about my Children?

One of the big news stories today was that according to figures published by the ONS (Office for National Statistics) Britain now contributes £50 million a day to the European Union.  That is £18.5 billion a year or to put it another way three times the value of the "government cuts" that generated so much left wing anguish at the march for the alternative earlier this year.  Perhaps some saving on our EU contribution would be a real alternative.

Our receipts from the EU are a little over £8 billion making the UK a net contributor of £10.3 billion this year.  In fact in not one single year during the past thirty years have we ever received back more than we paid in.

In addition to the standard EU contribution this year we have also agreed to pay an additional £22 billion in payments to the EU and to the IMF in order to bail out Ireland, Portugal and Greece.  That is £40.3 billion of taxpayers money this year alone, in order to belong to a club most British citizens don't want to be members of and to support a currency we didn't join!

I was rather struck by the following simple and heartfelt plea posted on an Internet forum in response to this news story.

"Wasting our money and breaking promises!  Well done, Dave! Lets print more money and borrow and borrow and give the EU even more! Your children will be OK Dave, but what about my children? 

- Margita, London, 24/11/2011"

I do hope Dave is listening, but fear that he isn't.
Best Wishes
Will

Speaking up for democracy - Take 2

It is a different style which you may or may not prefer; but the message is the same.




For the entire life of the European Union there have only ever been two net contributors; yes the UK, but always primarily Germany.  Why should any European country which has been a net beneficiary of the German taxpayers largess, believe that the fate of Greece and Italy does not await them?
Take care of your freedom and democracy, for once lost the price of regaining them is high.
Best Wishes
Will

Speaking up for democracy is not the lunatic fringe

As usual Nigel Farage speaks to a disinterested audience in the European Parliament, they try their best to ignore him. Where are the cheer leaders, surely somewhere there must be some MEP's who still believe in democracy.

For the life of me I cannot understand how we have reached a position where both Greece and Italy are governed by unelected off-shoots of the European Union; yet there is so little dissent.  Why is it that speaking up for democracy appears to be such a fringe activity?

Speaking up for democracy is not the lunatic fringe.  Millions died for our freedoms; for Gods sake, for Greeks & Italians sake and for our own sake, we must care for and protect our democracy and freedom.

If we don't do it now, we will pay for it later.

Best Wishes

Will

Death of Democracy

Mario Monti the new prime minister of Italy appointed by the EU to replace the elected prime minister Silvio Berlisconi announced his new cabinet today.  Not one member of his cabinet is an elected politician.  Who would ever have believed that in twenty first centuary Europe a major country such as Italy would be ruled by a totally unelected government? 

It will all end in tears.  How can it possibly be otherwise?

Best Wishes

Will

If ye break faith with us...

Have the political elite kept faith?

In Flanders fields the poppies blow
Between the crosses, row on row,
That mark our place; and in the sky
The larks, still bravely singing, fly
Scarce heard amid the guns below.

We are the Dead. Short days ago
We lived, felt dawn, saw sunset glow,
Loved and were loved, and now we lie
In Flanders fields.

Take up our quarrel with the foe:
To you from failing hands we throw
The torch; be yours to hold it high.
If ye break faith with us who die
We shall not sleep, though poppies grow
In Flanders fields.

Since 1914 millions have fought and died fighting for our freedom, our democracy and our way of life.  Have our political elite kept faith with those who died?  I think not; but would encourage each and everyone of you to look around you, think hard and make up your own minds.
The torch; be yours to hold it high.
Best Wishes 
Will