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June 15th, 2012 
FAKE NEWS for the Zionist agenda
By
Jason Groves and Hugo Duncan
16:09 EST, 14 June 2012
|
02:50 EST, 15 June 2012
Speech: Mr Osborne at tonight’s event
George Osborne last night warned eurozone leaders that the ‘time has come’ for a decision on whether to boot Greece out of the euro.
The Chancellor used his annual Mansion House speech in the City to deliver a blunt message to Europe’s leaders that they are running out of time to prevent a catastrophic collapse of the single currency.
He urged eurozone leaders to accelerate contingency plans for preventing other struggling economies like Spain being sucked under if Greek is suddenly forced out of the euro.
And he warned that the current dithering – which saw Spain’s borrowing costs jump to disastrous new levels yesterday – was ‘not much better’ than a disorderly Greek exit from the euro.
He said: ‘One thing is for sure – if (Greek) exit is the chosen route then the eurozone must have a very good plan in place to prevent contagion. The worst case for everyone would be exit without a sufficiently ambitious response.
The chancellor warned the ‘time has come’ to make a decision about Greece’s future
‘But carrying on with the current uncertainty and instability is not much better. A time for decisions has come.’
Speaking ahead of Sunday’s Greek elections, Mr Osborne also repeated his warning that it may require the shock of a Greek exit from the euro to finally jolt Europe’s leaders into action, and convince German voters to foot the bill.
He said eurozone countries were likely to have to move towards closer fiscal union, including a new greater pooling of resources and a shared banking system. But he insisted the UK would play no part in either and would demand safeguards to protect British interests.
Angela Merkel has warned Europe faced a ‘Herculean tast’ to save the Euro
His intervention came as German leader Angela Merkel warned Europe faced a ‘Herculean task’ to save the single currency – and Spain headed towards financial catastrophe. Spanish borrowing costs hit a new euro-era high as the botched £80billion bid to rescue the country’s stricken banks backfired in spectacular fashion.
The crucial ten-year bond yield – the amount the government in Madrid pays to borrow – hit the 7 per cent danger zone that triggered full-blown bailouts in Greece, Ireland and Portugal. It came after Spain saw its credit rating slashed to just one notch above ‘junk’ status, pushing Madrid ever closer to requiring a bailout of its own.
Moody’s warned it could cut Spain to junk within three months – forcing those investors who are only allowed to hold ‘safe’ government debt to sell their Spanish bonds and make it even more difficult for Spain to service its towering debts.
Italy was also under mounting pressure amid fears that the debt storm battering Madrid will spread to Rome and tear the single currency apart.
Mrs Merkel warned there were no ‘miracle solutions’ to the crisis in the Eurozone and world leaders should not ‘overestimate’ Germany’s ability to shore up the region.
‘Germany is strong, Germany is the economic engine and Germany is the anchor of stability in Europe,’ she said. ‘I say Germany is putting this strength and this power to use for the well-being of people, not just in Germany but also to help European unity and the global economy. But we also know, Germany’s strength is not infinite.’
Mrs Merkel said it was a mistake to set up a single currency without also pushing for closer political union. Berlin wants Eurozone countries to surrender control of their budgets in the hope that jitters on the financial markets will ease if Europe sets out a road map towards ‘fiscal union’.
The German leader said: ‘I know that it’s arduous, that it’s painful, that it’s drawn-out. It’s a Herculean task but it is unavoidable.’
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It should be obvious now that letting politicians have any control over the economy is like putting an arsonist in charge of your firework factory.
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A London based company have won the contract to print the dachma and companies across the world are refusing payment in Euros, it’s now only a matter of time before a collapse, a fiscal union will not save it now, and when the collapse comes we must bring all those that brought this on us to justice.
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Whats so good about the euro that it has to be saved, it was a bad idea from the start. Why should taxpayers be forced to bail out others. If you spend beyond your means then you end up skint, thats how it works in the real world.
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GIDION, GIDION YOU CANNOT RUN THE ECONOMICS OF THIS COUNTRY, SO HOW ON EARTH DO YOU THINK THAT LOT IN BRUSSELS ARE GOING TO LISTEN TO YOU ??? – TERRY, FROM A CITY UP NORTH (england), 15/6/2012 07:10 _______________ Your comment makes the assumption that (if correct decisions are made) the government actually has the power to save the British economy; at the present time we don’t know if that’s true.
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Panic measures from a rattled desperate KIng – still in office somehow having been as much asleep on the job as Brown ever was. The solution is simple. Out of the EU! And right now – while we still have the chance.
But the EU loving libconlabs will never say goodbye to their beloved EU gravy train. The only hope left to us now is Farage – the only leader unafraid to tell the EU where to get off in plain simple language. Sadly no referendum will ever be granted by feeble weak EU loving lefty Cameron and his equally feeble mates
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How could laid back countries like Greece, Spain, Portugal ever operate under the same economic conditions as dynamic, go-getting countries like Germany, France and the UK (though UK did not enter the Euro). Now we know (what was obvious from the start), they can’t.
Look at the tables of net contributions and receipts of EU countries, it’s always a one way street – from the richer, dynamic countries to the slower, laid back countries who should have been laughing all the way to the bank but still couldn’t make their economies balance.
What a mistake.
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‘Germany is strong, Germany is the economic engine and Germany is the anchor of stability in Europe,’ she (Frau Merkel) said. ‘I say Germany is putting this strength and this power to use for the well-being of people, not just in Germany but also to help European unity and the global economy. But we also know, Germany’s strength is not infinite.’ Well, Frau Merkel has made her position crystal clear and the rest of the EuroZone had better take notice; Germany can live off its fat for a long time but no other EuroZone country has any fat to survive on. It’s not beyond the bounds of possibility that Germany will decide on self-preservation if melt-down occurs – leaving the remaining dependents squabbling amongst themselves. Maybe this time it really is ‘crunch time’ for the Euro, and as it has become clearer by the day that there isn’t enough money left in the kitty the crunch could be the ‘coup de grâce’ for the Euro.
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Really?? he failed miserably on his work for UK and now he wants to lecture us about Europe? He has no voice here. Politicians laugh when Cameron and Osbourne talk about Europe.
We have stupid politicians in Spain but you britts are not far from us.. And honestly you deserve better, given what you had been once.
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GIDION, GIDION YOU CANNOT RUN THE ECONOMICS OF THIS COUNTRY, SO HOW ON EARTH DO YOU THINK THAT LOT IN BRUSSELS ARE GOING TO LISTEN TO YOU ???
– TERRY, FROM A CITY UP NORTH (england), 15/6/2012 07:10 . . . . . . . . . . . . . . Terry old mate – two things… (a) your keyboard CAPSLOCK appears to be stuck, and (b) if you’re going to make fun of Osborne’s first name, it’s GidEon!
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I’m in disbelieve, daily that we have such an incompetent bunch of people leading the EU. Get rid of them all, disband the EU, get every country involved back to their own currency and let them deal with their own affairs. That applies to you Cameron and Osborne, keep your nose out of the Eurozone business and start focusing on the UK! A general election cannot come soon enough.
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