Saturday 9 June 2012

Viva España! Viva el €uro!

The problem:

Spanish bailout.....it's the final countdown, and it's going to be the storm tempest before the calm. Next will be Italy.  Where Greece comes — 1st, 2nd or 3rd — really doesn't matter.

The entire EU house of cards is doomed.

We in the UK have been sold down the river by all politicians since Ted Heath signed us up to the Common Market.  He sure fooled me - I was all for it at the time, until the in/out referendum that followed at which I voted OUT.

Ah! What memories.  I was interviewed on the 'impartial' BBC local radio during which I was ridiculed by the questioner for suggesting that late 1970s food price inflation was driven by membership of the Common Agricultural Policy.  Remember butter mountains and wine lakes?  No?  Then you are too young.

Possible solution:

I am no economist, but logically:

Let the PIIGS countries exit the CENTRAL €uro and let them choose to either club together and form a new PERIPHERAL €uro or revert back to Drachmas, Pesetas, Punts, Lira.

Either way I would love to be a fly on the wall at bank note printers De La Rue right now!  The Sales Director must be dreaming of how he will spend his bonus!