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economic situation is dire


ianrobo1

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so who do you vote for Labour or new labour?

I vote for the party which offers the most Equality, Ethics and Morals.

So after all these rants you are a Tory after all

:lol:

Quality :-)

Yawn.

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^Is this really necessary?

Reassuring that the new Greek PM is the guy who originally lied about Greek finances to get them into the Euro. Still, despite never having been elected to public office he IS a former banker for the ECB.

Democracy at work in the country of its birth..

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Reassuring that the new Greek PM is the guy who originally lied about Greek finances to get them into the Euro. Still, despite never having been elected to public office he IS a former banker for the ECB.

Democracy at work in the country of its birth..

Signor Monti is a former EU commissioner too, is he not?

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Reassuring that the new Greek PM is the guy who originally lied about Greek finances to get them into the Euro. Still, despite never having been elected to public office he IS a former banker for the ECB.

Democracy at work in the country of its birth..

Signor Monti is a former EU commissioner too, is he not?

Yep, also another election dodger. It's such a blatant EU takeover I can't believe so many people are simply ignoring it.

Vive la revolution.

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Yep, also another election dodger.

So, if Spain is next, do they appoint another non-elected person to run their country on behalf of the EU and the money men?

Some interesting comments on the Greek and Italian situations from various people (including Redwood on R5 last night - 2hr18 min in - talking not only of the anti-democratic decisions being taken but also these 'damaging austerity programmes where they can't take all the action necessary to grow their economy' that are being forced upon these countries).

Also an interesting read is this in the Grauniad with a discussion/interview of Paul Mason and Gillian Tett.

A couple of excerpts:

PM: What is likely in the next few months is the emergence of mainstream politicians saying this far and no further, protectionism, roll back the free market, and it could come quite quickly.

GT: Anyone interested should read two key sources – one is a piece by Carmen Reinhart about financial repression, that argues the way the west cut its debts after 1945 was by forcing the pools of capital in the economy – the savers, the pension funds – to buy government bonds at rates slightly below the rate of inflation. If you can maintain that for 10-20 years, due to the magic of compounding, you actually help pay down debts. The other amazing book is Debt: The First 5,000 Years by David Graeber. He argues that whenever you have periods of crazy expansion of virtual credit, like today, you either have to have a safety valve of forgiveness, like in Mesopotamia where you wiped the tablets clean every seven years, or you have an outbreak of social violence so intense you rip society apart. Either you have inflation, or default, or forgiveness.

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Spain do actually have a democratic election coming up so I guess it depends whether the people elect the 'right' candidate (according to the markets and the EU) as to what happens there next.

The potential for a 1930's style Great Depression doesn't seem so far fetched anymore. I'm sure continental enthusiasts of high leather boots are investing in kiwi polish and train timetables already..

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