Category Archives: Bail Out

BEHIND THE CURVEBALL

By | | , , , ,
33 Comments

Well. it looks like Berlusconi is following Papandreou out through the exit door, as demanded by Merkozy. This morning, the BBC pondered the future for Italy. Naturally, they push the “tighter fiscal and political union” fantasy of Barroso and his pals. They are also fixated on the personality of Berlusconi.They might do better to listen to the markets, now factoring Italy’s 10yr bond rates at 7%. That’s immediate bail-out time, and this time, not enough cash in the coffers to bail Italy out. So why does the BBC not discuss the central issue here – namely Euro-Governments spending more money than they have? The impossibility of such diverse economies as Germany and Greece? The hubris of the European elite who have ignored the profound schisms that now threaten to engulf the Eurozone? Why is the substance of the debate always so restricted?

Click through to read and contribute comments on this post.

ALL GREEK TO THE BBC

By | | , , , ,
23 Comments
Demonstrators take part in a protest against plans for new austerity measures on October 20, 2011 in Athens
Another blow to the BBC. Greece’s cabinet has given unanimous backing to the plan by PM George Papandreou to hold a referendum on a EU debt rescue package. You will recall that only yesterday the BBC was hoping that perhaps Papandroeu would fail to win this backing, so another bad day for those living in the fetid Euro-swamps of the BBC. They wheeled on Elena Panaritis, an MP from the Greek Pasok party, to the Today programme this morning but she did not follow the script and talked about the need to consult the people about the implications of the Austerity measures forced on her country by “the colleagues.” This was met by BBC stony indifference. It’s hilarious watching the puffed up outrage of the Euro-elite at the concept of  the people of a Nation being given the right to speak out about their future, it’s disgusting to note the State Broadcaster parrot this totalitarian creed.

Click through to read and contribute comments on this post.