If the rate at which the Italian Government borrows remains unsustainably high, Italy may have to follow Ireland, Portugal and Greece; and then the rest of the biggest and ongoing economic smoke and mirrors act ever conceived, could crash out of existence. This is a Solution? Everyone eventually seeking a bailout from the European Union and International Monetary Fund.? Where will they be finding the Euros? (Junk bonds anyone, yeah right). For unlike the US, the Europeans just can't print tons of dough when they need to. And Italy, the world's eighth largest economy, requires a bailout on a far larger scale. A small country like Greece, for example, would require about €130bn to meet borrowing needs over a three-year period. But the same amount would only cover Italy's needs for six months.
They were told by wiser economic dot joiners, that what they were up to - stitching countries together - one with a donkey economy the other a Merc, just wouldn't work. Speeding without lights on a crowded four lane foggy autobahn for hours and expecting not to have a pile-up. Overdosed on their own economic fiction and their self professed brilliance, the tossers have been found out...but everyone now will pay some as yet undisclosed price for their arrogance and folly
Bring on the robots and artificial intelligence to run things; for surely it couldn't be worse, could it?
(Photo: Copyright Control).
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| Monetary Union without a Euro zone fiscal policy = Europe down the crapper. |
Bring on the robots and artificial intelligence to run things; for surely it couldn't be worse, could it?
(Photo: Copyright Control).
