The New York Times: Reports that both Ireland and Portugal might need to be rescued at the same time, also Spain as a major problem is on the horizon. This is getting ridicules folks, when does the EU say NO and allow a Sovereign Debt default, if your throwing good money down the toilet there will come a time when there is no money to misquote a former Labour Minister. The bad EU banks should be allowed to go broke and then those Countries economies should be run by the EU. Thus EU would decide the Budgets of these countries, as they are far away the political pressure wont be the same, they can be drastic, its time for the tough medicine folks, those black and white images of the Great Depression of the 1930s does come to mind.
Tuesday, November 16, 2010
Back to the BAD News - Ireland
Guardian: Reports the economic markets could take it badly if Ireland does not take the economic bailout from the EU. It seems that Ireland will not have a choice, it will have to take the bailout, this will be a major humiliation for the Irish, in many respects Ireland will give up its Sovereignty to the EU major powers, France and German. Also the UK will be out by seven billion pounds, but its money that has to be spent, if Ireland goes down it could send the UK in to a major recession.
The Royal Wedding in 2011 - Prince William of Wales and Kate Middleton
BBC News: Reports on the news that Prince William of Wales is to marry his long term girlfriend Kate Middleton. This is great news for the Country folks, lets be honest there has not been a lot of good news of late form the Economy to Afghanistan, this will allow UK to come together and celebrate a great and happy day. GOOD NEWS DAY FOLKS.
Portugal and Ireland = BROKE!
Telegraph: Reports that Portugal could be next to go broke, the pressure is building on Portugal due to the negative news on Ireland. At the moment, Portugal, Ireland, Greece and Spain are the PIGS that have over eaten and could cause a collapse of the Euro, the question is what should the EU do and the UK. It is a self made EU problem, there is no economic centre in the EU, the EU does not control the budgets of this Euro countries, thus you have the power house of Germany that’s has to bail out the PIGS, the German tax payer is not to pleased, they have every right to be VERY unhappy. The UK has announced that it will support Ireland to the tune of seven Billion pounds. The UK does not have choice, if our close economic neighbour goes belly up we could have a major depression. Any good news, the handouts will either work or not, its that simple folk.
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