Friday, May 14, 2010

Could France leave the Euro ?

Guardian: Reports on the threat by France to leave the Euro if the Euro countries did not back Greece, the threat was seen as pressure on Germany to back the bailout of Greece. At the end of the day folks the Euro can’t survive because of political faith, the banking bailout could be the warning to bell to more serious problems of Sovereign Debt, in this case countries like Greece who cant pay back debt to the money markets. This issue goes back to the creation of a welfare state structure in Europe and the UK, the costs are getting out of hand, the point of the welfare state was to create a cushion for those that didn’t make it in the wider Western system, but that cushion has become the norm, Greece is an over top example of that, public sector works paid a bonus for turning up on time, that is mad folks. Thus we see that Spain could be the next country to fall folks, at the end of the day folks the peoples of Europe have to wake up to the fact that the era that the government would look after you from birth to death is over, its going to get cold out there folks, people have to develop the fact that they have to look after themselves not expect the State to look after them, the State is broke folks. Lets see if Spain goes like Greece, 60/40 that Spain will need a bailout folks.

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