"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen."

Monday, 11 July 2011

Yet Another Last Gasp

It's getting to the stage of "I'll believe it when I see it" when it comes to the collapse of the eurozone and the EU's megalomania. Ambrose Evans-Pritchard has the latest about the outcome of this morning's meeting. It's probably the best analysis you'll find anywhere with the exception of Golem XIV.

The ECB is refusing to step in to stop the contagion because it says it's a problem for eurozone countries but Merkel is blocking proposals, saying it would be against the German Constitution.

Spain is in a bad way after one Region announced that it's debt was greater than at first thought and Italy has been going down since last night. Belgium's been mentioned, France is in the frame and we all know about Greece, Portugal and Ireland.

It's all looking ripe for someone else to step in and say enough is enough. Then we'll no longer have to guess what what their plans are for the global economy. Frying pan and fire scenario, again.

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