Last night Spain did a Greece.
It said yes to Fiscal Compact but in reality it was lying. PM Rajoy has said he is trying his best but factors outside his control means Spain cannot adhere to the tighter rules imposed by the technocrats. 5.8% is close enough to 4.4% so its not a big deal is it?
The Fiscal Compact was signed with fanfares and belly dancers less than 10 DAYS AGO. It has been breached.
Italy is now in recession and will be doing the same. Lying and asking for an excuse not to adhere to the Fiscal Compact.
Greece new bonds are discounted by 25%. And don't you recall I said many investors were lining up their lawyers to fight the Greek SD? And here they come ...
What Europe needs is hyper inflation. The only way this is going to happen is to ban goods from China and get the Trade Unions on the streets pumping up higher wage demands. But this is all a pipe dream.
Seriously, you think the Euro will survive?
More debt to solve the debt problem (cityam)
EU says Spain will adhere to Fiscal Compact (March 5) (pf)
When you are struggling it is time for the lawyers (reuters)
Obama and Cameron to announce love child.