Friday, October 17, 2014

How much more of a disaster has the Euro to be before those completely disfunctional Eurocrats realise that the great experiment has been an unmitigated disaster. The only beneficiaries have been the MEPs raking in their inflated salaries and even greater expenses and benefits not forgetting the gravy train of two parliaments swapping places every 6 months. Is there anyone outside that corrupt self serving organisation who does not realise what an exercise in futility the Euro and the EU as a whole has been. The extremes of wealth of the individual nations that go to make up the EU would make any self respecting economist and thinking individual tear their hair out at such an absurd notion that this disparity could ever be made to work. The two main protagonists of this joke France and Germany can not even kid themselves any longer of the integrity of the system.....it is surely bankrupting them and only a question of time before reality must surely set in. Please please, UK extricate your self completely and spread your phenomenal trading abilities to the whole world and cease to be hamstrung by the ridiculous and petty micro managing rules and notions of what has become an embarrasment to the peoples of Europe... Christine Lagarde, the head of the International Monetary Fund, warned that the eurozone is at “serious risk” of falling back into recession if nothing is done, and is in danger of suffering a lost decade. “If the right policies are decided, if both surplus and deficit countries do what they have to do, it is avoidable,” she said. The wording is a clear call to Germany for an immediate shift in policy.  German exports slumped by 5.8pc in August as the crisis in Ukraine and Russia took its toll. “We’re no longer in a recovery,” said Volker Treier, head of the German Chamber of Industry and Commerce (DIHK). He said geopolitical upsets may have pushed the economy over the edge into a “technical recession”, but added that Germany itself is also to blame for failure to break out of a slow-growth trap. “We have too little investment. That’s been the case for years,” he said.  The Wise Men said in a joint report that the German economy is now in “stagnation”, with unemployment likely to rise next year. “There are no signs of the long-awaited recovery yet. Corporate investment fell in the second quarter and there is hardly any evidence to suggest that this cautious approach to investment will change in the near future,” they said.

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