30 Jun 2012

Mutual Indebtedness

I usually think that Nigel Farage is a hateful reptile. But watching this speech on 13 June I have to admit that he has a point. European politicians have their heads up their arses.

"I remember 10 years ago... [they were saying that] with the Euro by 2010 we would have full employment"

100 billion is being put up for the Spanish banking system. 20% has to come from Italy. The Italian banks lend money to Spanish banks at 3% interest, but they have to borrow it from the markets at 7%. Genius! [Paraphrase].

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Keep is seemly & on-topic. Thanks.