Showing posts with label EU. ECB. PIGS. Show all posts
Showing posts with label EU. ECB. PIGS. Show all posts

Wednesday, 1 December 2010

The Euro has already failed!


Always good to see people exercising their right to march in protest on Irish streets, but to whom are they protesting? 

To the property developers whose greed had no bounds? 
To the (at best) criminally negligent Irish bankers?
To the complicit politicians who sucked money from the dirty sponge of corruption?
To the self-serving ECB?
To the floundering EU?
To the anonymous monolithic IMF?

Whoever it is you're most upset with, march loud angry and proud, because your footsteps are the soundtrack to the sight of capitalism eating itself. 

The EU decided that their currency is more important than the people of Europe. Everything must be done to protect the euro. The people of Ireland haven’t been helped in any way whatsoever. We have been sacrificed on the altar of the euro. The people of Greece and Ireland (and maybe Portugal next) will suffer for decades so that the single currency might survive for the greater good.

For ‘greater good’ read: ‘German and French economies.’

The Euro has already failed. The bailout which injected us with untold billions of new national debt is the same Band-Aid they used to cover up the mess in Greece, in the vain hope that the speculators won’t move in on Portugal and then Spain. 

If Spain goes down, the euro disappears. No amount of Band-Aid debt injection will revive an economy that size. So we people of little PIGs (Portugal Ireland Greece) are deemed expendable to the survival of the euro. 

Except it’s not working, because they’re missing the whole point of capitalism, which is to make as much money as possible and devil take the hindmost. Those speculating bondholders are flying around like fiscal Death Eaters, moving from this ailing economy to that, all for the dream of making a fast buck.

They are as likely to stop as you are to walk past a big fat 50 note sitting on your doorstep. 
Collect fire wood now.