“Moody’s has downgraded six German banks … due to the increased risk of further shocks emanating from the euro area debt crisis … [meanwhile] … Parliament might be in recess … but the eurozone crisis still rages across the continent …”
I have to say that the euro/EU crisis now seems to be entering that phase which all crises reach at some point, when events start to take on a life of their own.
Events start to dictate decisions and outcomes, rather than the dictatorship (for that’s what the European Commission/Union is) dictating events. We’ve had a few years when the European politico-bureaucratic mafia believed it could do the economic equivalent of walking on water.
Now, the economic realities are emerging for what they are, and the mafia is faced with the prospect of sinking.
I don’t know about you, but it is comforting (albeit not luxuriously so) to know that, as ever, in the end, harsh economic realities always stand a pretty good chance of sweeping away political nightmares. We can only hope that the collapse of the euro monetary union is indeed now assured and, moreover, as a result the European Union is mortally wounded.
Since the EU’s avowed aim is to snuff out democracies in Europe, aided and abetted by the British political elite, how else do we get out of this political nightmare?
Most days at the moment, watching the euro (and one can only hope the EU) unravel, whilst listening to the politicians and bureaucrats spouting ever more fantastic propaganda, I think I’m going mad.
Isn’t the promulgation of ever more fantastic propaganda the hallmark of a collapsing dictatorship?
PS I continue to find it faintly amusing to note how the BBC appears to be at a loss as to how to make the collapse of the euro (and possibly the EU itself) its recurring main news and current affairs theme. What’s going on in Europe at the moment could well end up defining the continent’s socio-economic landscape for the first half of the 21st century, and the BBC is still dancing around the handbag … searching for the latest story about the NHS to make its headline news. Look away Auntie!
[Originally posted as a comment on the Daily Telegraph website 6 Jun 12]