The EU leaders met today and produce what EU leaders do best, a lot of hot air, big on rhetoric and short on facts. The markets were not impressed, can you blame them? The Euro fell on the Forex market against the Dollar,Yen and even Sterling, a triumph for the EU crats and M van Rumpy. The so called plan breaches all the Maastricht Treaty rules setting up the Euro but that's what rules are for in the EU. Nothing is more important than the great EU project. It must be kept rolling at all costs.
As I wrote on Sunday the real trouble will come when the Greeks realise they are now being ruled by Brussels and in particular the Germans on such things as tax, public sector pay and social welfare payments. Their civil servants have already gone on strike, a general strike is planned for 24th Feb but when the weather warms up in late April the rioters will be on the streets of Athens and Salonika. Greek politicians will face real physical violence against themselves and their families. They will have to choose between loyalty to their own people and loyalty to the Franco German EU empire. If they want to stay as as Greek politicians they must reject the EU publicly.
The problem with an EU bailout is it lowers the credit rating of the whole Euro area. Bad, but worse is the moral hazard it creates, with Spain, Portugal and Italy waiting with their begging bowls ready. Politicians in the EU and here in the UK are not telling the truth. They are avoiding the tough decisions they so frequently boast of taking. The so called solution to the credit crunch is built on sand and paper money. It will take real pain, tax rises, wage cuts etc and the courage to face millions of angry voters on these issues at the ballot box. That does not sound like any of our current politicians.
Talking of which I watched Andrew Neil's Daily Politics show at 12:00 today. Who was asked to give the anti EU view on the Greek tragedy from Strasbourg? Daniel Hannaan and he did it very well. He is now clearly regarded by the media as the leading EU critic. He clearly is a class act and makes NF look second division. The pity is so many good, well educated, talented people who could give Hannaan a run for his money have been hounded out of UKIP by the self seeking Cabal.