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June 7th, 2012 
FAKE NEWS for the Zionist agenda
By
Ruth Sunderland
14:05 EST, 6 June 2012
|
14:05 EST, 6 June 2012
It is impossible not to feel sympathy for the plight of our neighbours on the Continent and across the Irish Sea. To read of Greeks who put their children into care because they cannot afford to look after them, to see angry and frightened young Spaniards with no hope of a job, or to consider the new diaspora from Ireland, which is losing yet another generation of its youth – these things are heartbreaking.
Millions of blameless people across the Eurozone have seen their savings, their jobs and their hopes for the future evaporate in the meltdown of the single currency.
I shiver to think how it could so easily be happening to us too, had the foolish Tony Blair managed to push us into the ill-starred euro project. Devising his five economic tests – knowing they could never be passed – may have been the one unequivocally good thing Gordon Brown ever did for us.
On the brink: The single currency continues to wobble, bringing misery to millions in Europe
Emotional responses are easy and cost nothing. The harder question is how much could and should the UK help to bail out troubled banks and economies.
The knee-jerk answer is that the Eurozone is mired in problems of its own making and that it would be outrageous to call on us for help, particularly when we have difficulties enough of our own.
Unfortunately, the ‘serves you all right’ position is not tenable.
The UK is on tap for EU bailout funds, but we would be called upon to contribute to International Monetary Fund support, unless we reduce or rescind our shareholding, which is not on the cards.
Beyond that somewhat dry statement of position, it is in our national economic interest that the Eurozone is restored to strength, since it is a major trading partner.
We should also be concerned, as my distinguished colleague Andrew Alexander argued in his column in the Mail, over the rise of extremist parties on the continent, with its sinister echoes of the 1930s.
And we should be aware of the popular view in the Eurozone that we inflicted the crisis on them, by allowing the likes of RBS to run rampant and infecting their financial system with our deadly Anglo-capitalist poison. The notion is utterly misguided of course, but that does not stop it being widely held.
This is certainly not building up into an argument that we should attempt to ride to the rescue with a blank cheque. We can’t afford it anyway.
Neither should Germany be called upon to beggar itself at the behest of its less prudent partners.
This is not callous, but realistic. First, the cost is unquantifiable. Smaller economies like Greece are one thing, but the crisis now has a stranglehold in Spain, which is too big to fail and probably too big to bail. Second, the idea that the single currency could be restored to its pre-crisis status by dint of bailouts, however big, is wrong-headed.
The root cause of the Eurozone meltdown is not too much debt or lousy banks, though these are bad enough. It is that countries such as Greece, Spain and France are uncompetitive and have little chance of improvement so long as they are yoked in a currency union with super-efficient Germany, and so long as they cling to their unaffordable social models.
Humpty Dumpty has fallen off the wall – but Eurozone leaders will not admit it.
Unwise? Francois Hollande is keeping his economically misguided promise to reduce the retirement age from 62 to 60 for some workers
Look no further than the delusional Francois Hollande, who is going ahead with his ridiculous promise to reduce the retirement age from 62 to 60 for some workers. That would be an utterly stupid thing to do even if there were no banking crisis. The demographics of ageing Europe have been threatening to put national treasuries on an unsustainable fiscal path well before ABN-Amro was so much as a glint in the eye of Fred Goodwin.
The last thing we in the UK should do is adopt a position of superiority and harden our hearts to people on the continent, most of whom are as decent and industrious as we are.
But so long as the political leaders of the Eurozone refuse to face facts, using British taxpayers’ money to try to shore up the single currency will not help the families and firms trapped by the euro crisis. It will merely prolong their agony.
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will be painful for everyone, but if they refuse to sort it out for themselves (and they`ve fiddled and faffed for 4 years) then let it fail.The sooner the “markets” make it crash the sooner we can all get on and sort ourselves out.
They have used this disaster to force political union on everyone in Europe while hiding behind this solvable crisis, we don`t want a soviet state of europe.
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I feel no pity for them at all. In fact I feel absolutely nothing. I just want my country back.
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There is a coup going on in Europe. I, for one, have no desire to prop up this anti-democratic cabal any longer. Referendum NOW!
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couldn’t give a four X for the EU.
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The UK is on tap for EU bailout funds: We the People were not consulted when one man decided to sign us up for anything and everything eu because it would make HIM rich; therefore giving away tax payer’s money without asking us first is morally reprehensible!
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