So, we want your money, but we don’t want to do anything for it, we want it all, better, and now. So fuck you. If you still think bailing out the Greeks was a bright idea – watch them now bring their own country to it’s knees despite €120 billion, from the Eurozone, Us, the Yanks and anyone else.
For those of us that grew up in continental Europe during the cold war the Hammer & Sickle is something that’s very unwelcome. Markets are crashing through the floor, Portugal, Spain and Ireland frankly are on the brink of another downgrade, and all because no one is prepared to stand up for treaties that were designed to prevent this from happening in the first place.
They had a chance to salvage this, to bring things under control – but no, they want it all, now: and guess who’s going to have to pay for it.
And if you thought this was a European problem the DOW is down -2.02% today – I bet the traders are loving Obama’s spin on this on. Frankly I’m to disappointed to blog about this any further: details here. I have an awful feeling this is going to spread now, and the UK’s gilts are going to be in the spotlight, especially if we’re delivered a hung parliament on Thursday/Friday.