"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."

Wednesday, 14 September 2011

A Prediction

Last year when markets were tanking and the PIIGS running round squawking like dying rats begging for hand-outs, one solution was the two-tier EU with a top tier of economic and concomitant political governance. At the time I suggested that if that were to happen we should be on our guard for moves towards Britain joining the Northern euro area. I stand by that, despite government assertions. Cameron himself has said that the country "will not join the euro in this Parliament." They always have a get-out clause.

Austria Fails To Ratify EFSF Expansion, EURUSD Plunges. A further meeting has been called.

Ardent europhile Paddy Ashdown says the Euro must break up

BNP Paribas plans $96 billion of asset sales

Belgian Political Crisis Escalates

Italy engulfed by euro crisis as borrowing costs soar

"We're getting close to a full-blown banking crisis in Europe"

Britain to sue the European Central Bank

I wouldn't like to be in George Osborne's shoes. He can upset the British electorate or upset the EU, either way it's not looking good for him, which probably explains all those cocaine/prostitute stories in the msm lately.


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