Saturday, 2 April 2011

Euro staggers on

The Europhile BBC economists panel opined this week that Greece will default on its debts. Ireland has to find another £20 bn to bail out its banks. Portugal will soon be forced to take the EU support package at penal rates of interest and these three little pigs will sink further into the mire.

I don't post much these days because the EU is in its bunker mode and living in fantasy land sustained by its lick spittle supporters like Cameron. Rules are being ignored or re-written but that is the EU way. The UK is not looking in great shape either but the Euro's fate will be determined on the streets of the big Spanish cities. Spain like Libya is a divided country, Castille, Catalonia, Basque lands and Andalucia. With unemployment approaching 25% and youth unemployment twice that conditions are ripe for street protest. Also, the Spanish banks are hiding 100bn Euro + of property loan defaults on their balance sheets that will eventually out and trash Spain's ability to borrow on international money markets.

Back in the UK this AV referendum is a nightmare for boy Dave. As Portaloo remarked last night politicians love the trappings of power, private jets, limos etc. Ask Nigel Farage! If it is won by the pro AV lobby I opine the Tory MPs will rebel as an AV system will ensure a perpetual Lib Lab government. Turkeys don't vote for Xmas. Better to bring down the government, force an election which Millipede will easily win and in which the lying Lib Dems will be wiped out.

1 comment:

Anonymous said...

Your wrong. Under AV the Tories would have no choice to embrace the LibDems and form a coalition (as with Nationals and Liberals in Oz). Under Cameron they basically are the LibDems in many areas anyway.
AV is a highly disproportional system, and because of the way it works a coalition nearly always comes out on top (Benefits from both smaller parties knocked out, and the centerist/compromise nature of preferences going to the middle ground) Both work against Labour and the coalition will be having a surplus of seats. In fact in many seats Labour will be wiped out. Obvoiusly a disaster for democracy as the EU issue will simply be igonred.