Tuesday, 3 March 2009

Trouble Rising in the East for the EU

My theme of yesterday is today's banner headline in the DT. The French & Germans are claiming credit for calling Sunday's emergency summit. Sarkozy is carrying on as if he is still EU president and implying the Czechs are not up to running the EU. Its back to the Holy Roman empire as far as Merkel and Sarkozy are concerned and the Eastern Empire better learn this quick.

Maybe they should remember the original Roman Empire split into the empire of the East and the empire of the West circa 300 AD and the split came right down the same fault line between Croatia and Serbia.

The Euro is the driving force behind the coming social unrest and split. Almunia, the EU commissioner in charge of monetary affairs yesterday stated he had a cunning plan to avoid this split but it was so secret he could not tell anyone, a bit like Baldrick in Blackadder! I doubt the plan will be up to Baldrick standards!

Italian BTP - Bund spread at 1.5% and Greek-Bund spread at 2.5% says it all. Nothing can withstand the bond market!

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