That's the problem with crises, they always come at the wrong time of the year - take the outbreak of WWI and WWII for example. I mean, how thoughtless, right in the middle of the holiday season. So one can imagine, with not a little relish, the mutterings in Brussels amongst 'the colleagues' as they watch Spanish bond yields reaching 7.5% which, in laymen terms, I gather, is the equivalent of melting point. According to the WSJ:
Spain needs to sell some €27 billion ($32.8 billion) more in bonds this year to cover its deficits and repay maturing debt. It has leaned on domestic banks to scoop them up, but those banks' purchases are waning. Earlier this month, Spain canceled a mid-August bond auction.
The Spanish stock market has dropped 2.5% - as has the London Footsie. Italy is following suit! Greece is all ready to surrender despite rattling their empty tin cup in the direction of Germany. How long can this cruel, useless madness continue? And all for the sake of a lunatic political idea even more manic than national socialism or communism. Poor Europe, what did we do to deserve such moronic leadership.
In the good old days, wars started when the peasants had got the harvest in and had time to practice their marching. So everything is going to go tango uniform sometime in September. I wonder if I should really be going on holiday in Cyprus at the end of September. Is it too far to walk back, I wonder........
Posted by: backofanenvelope | Monday, 23 July 2012 at 15:43
"Poor Europe, what did we do to deserve such moronic leadership."
Here in the UK we elected them. Don't ask me why though.
Posted by: A K Haart | Monday, 23 July 2012 at 17:31
I would suggest swimming lessons, 'Envelope', a.s.a.p.!
Yes, AK, we should never forget that in a democracy we elect our leaders but in a plea of mitigation for the defence, what "an absolute shower" we had to choose from!
Actually, it makes me wonder how on earth to vote in the next election which I suspect might come a lot sooner than some people expect. 'Dave', 'Ed' and 'Nick' - Dumb, Dumber and Beyond Dumbness.
Posted by: David Duff | Monday, 23 July 2012 at 18:10
My practice, since the fall of Mrs Thatcher, is to vote for someone else. Anyone else but Lib, Lab or Con. When enough people do this, the system will crash. Might be messy, but it is only way to get change.
Posted by: backofanenvelope | Tuesday, 24 July 2012 at 07:09
It's an idea, 'Envelope', but where's the Monster Raving Loony Party when you need it?
Posted by: David Duff | Tuesday, 24 July 2012 at 08:29