Tuesday, May 8, 2012

Eurocrats 0 Lunatics 1

loonie tunes© fintag

News comments:
My predictions of the Euro collapsing by the end of 2011 were scuppered by expense lovin' eurocrats who muscled into Greece and Italy and helped avoid themselves being out of work by using the ECB as an ATM.

And suddenly its all changing. The lunatics are taking over the asylum:

Greece is burning and its child like politicians are saying no to the hand that is feeding them.

Spain's accounting fiddles are coming to fruition and its emperor has no real estate clothes are pushing its banks into the ECB's gloves of love.

Netherlands is rudderless and its highly indebted population are closing the vice doors in Amsterdam because the party has ended.

France has turned to a Mitterand in waiting - spend and tax and closed shops and full Eurostars.

Upshot is Merkel will be out later this year and the only truly normal leaders left will be David Cameron and Mitt Romney.

Today's shorts:
UK's PLCs to turn into partnerships (reuters)

Today's longs:
Greece salutes you (bloomberg)

One flew over the cuckoos nest to be remade.