The TV footage yesterday showing the Cypriot finance minister in Moscow begging the Russians for a bail out says it all about the EU. Will he get his money? I think so with strings of course but Cyprus is a member of the Eurozone so what are they doing? Well they created the problem by making, as one Rusiian minister said, every mistake from the big book of EU cock ups. The ECB has given the Cyprus government until Monday to come up with the money. Or what? Welll not a lot they can do to Cyprus extra to what they have already done.
I have never had any policy differences with UKIP Fuerher Farage. To us the well worn cliche you could not get a fag paper between us on policy. Farage is great at putting the ball into open EU goals and he did this two days ago in an interview he gave to Putin controlled Russian TV. One for the conspiracy theorists to ponder! Click on link to watch Farage at his best putting the boot into the EU.
My differences with Farage revolve around the strategy and tactics to get us out of the EU where Mr F's EUKIP is woefully deficient. There were people around who could have filled that gap but alas they have all been purged in Stalinist operations. Like the curate's egg Farage is good in bits but overall fails his party and his country.
So what will happen now in Cyprus? The penny is slowly dropping that rules and due process mean nothing to the Eurocrats. Even the LibDem MEP S Bowles has admiited that. It is therefore very difficult to make any rational forecast of what these people will do next to preserve their sacred cow the Euro.
If I were a Eurocrat I would remember what happened to Litvenenko in London. No one has evere been charged with his murder and no one ever will be. That is global realpolitik. But what happened in London can happen in Brussels or Berlin just as easily.
Cyprus is 0.2% of the EU economy and 12 bn € is peanuts for the EU compared to say a bit of unsolicited Polonium to sweeten your coffee. The reputational damage this has done to the EU is immense. What is there much vaunted banking reform package worth if a government can help itself to its citizens bank deposits when it needs to fill a hole.
Cypriot banks are shut until Monday so the action will switch to Spain. I expect a lot of London bankers will be thing Xmas hascome early.
Gideon's budget was a waste of thime. It was not even good theatre.