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It’s not default of the Barber of Brussels

28 Oct

Well here we are. It’s almost the weekend. Relaxing time doing things we like to do and the chores and food shopping etc. etc.

Those nice and ever so generous EU politicians will no doubt be tired after a very busy week of spending other peoples money. They have sat through difficult negotiations, enjoyed fabulous meals, given things away, enjoyed fabulous drinks, told people what to do, enjoyed fabulous snacks and then stayed up very late and saved the world. Well their bit of the world, which, unfortunately, we are a part. Just don’t mention default.

Greece has had a haircut. They have had their debt trimmed by 50%. What lovely, simplistic language. Nothing frightening there, move along. We should be very pleased to know that they have only needed to create an additional bail out fund of 1 trillion Euros. Result! Just didn’t mention default.

The reality is somewhat different of course. The Euro won’t survive. The only way to try to fix the Euro is to grown the economies of the EU states. Now that would be tricky because of the general stagnation of the EU economy. How to boost it? Simple. Strip out all ridiculous regulatory legislation resulting in a huge drop in operating costs for businesses. Go through the entire EU budget and strip out all costs, which do not support economic growth. No more global warming windmills nonsense. No more support for fake charities and the like. Greatly reduced overseas aid. Reduced contributions from member states.

Sell of EU assets. Reduce staffing numbers. Reduce wages for all EU employees. Reduce expenses. Freeze pay rises. Now I know that sounds a bit drastic but the EU leaders should look upon this solution as giving the EU a haircut. Trimming a few things here and there. Just don’t mention default.

At this point I should mention ‘default”. This is a bad word. The “markets” don’t like it. The Banks don’t like it. The agreements put in place are not defaults. The money they have created/borrowed/agreed to be available are not there to promote defaults. The “hit” the Eurozone banks have taken are not default based. The moon is made of cheese. Fairies are real. I will win the lottery this weekend. Obama will win a second term. Call me Dave knows what he is doing.

I think you catch my drift.

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Posted by on October 28, 2011 in Politics

 

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