Tuesday, 8 November 2011

Politicians propose, markets dispose

Poor wee George off to another useless finance ministers meeting today accompanied on Eurostar by Nick Robinson who reported that yet again no way forward found. George does his usual berating of the Eurozone apparatchiks which achieves nothing. Until the Eurofanatics take the reality medicine there can be no solution. Things will steadily get worse for the people of Europe. There is no money left as I think Mr Byrne said last year.

Italian 10 year bond rates closed today at 6.76% a spread to bunds of 4.96%. That's bail out country! French bonds, OATS, closed at 3.1% compared with the UK gilts rate of 2.27%.

I am amused at the ad hominen attcaks and language used by the EU crats to smear Papandreou and Berlusconi. David, Del and I suffered  the same from the Faragista Cabal on EUKIP's NEC. The Cabal embodies the true spirit of the EU. Delors would be proud of them.

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