Monday, 17 January 2011

Gatwick Chaos

Arriving back at Gatwick on Saturday evening the passport checking hall was overcrowded disorganised chaos overseen by a fat presumed BAA employee sitting on his bum studiously ignoring the melee around him. Outside at the car park bus collection pick up point it was the same. No organisation, no police to enforce parking restrictions and of course no BAA management to be seen. Its not just snow that causes chaos at Gatwick they just cant handle passengers either. They need more and better trained staff but that's what you get when you allow an indebted Spanish builder to take over the busiest airports in the UK.

Meanwhile in Euroland the ECB rulebook continues to be ignored. Irish banks have insufficient eligible collateral to borrow what they need from the ECB so they are using dross collateral to borrow from the Irish NCB, a recipe for future trouble. European finance ministers are having yet another meeting to expand their ever increasing bail out package for profligate PIGS. With rules being ignored with such frequency it is difficult to know what will happen but it won't be good and Joe Public will end up paying. What is the point of imposing yet more financial regulations when the Franco Prussian elite blithely ignore the current rules?

The Chinese continue to buy up Euro sovereign debt as a way of keeping the value of their currency down and their exports cheap. Will the Swiss do the same?

No comments: