Thursday, July 21, 2011

German/France and the Greek Debt

Telegraph: Reports that Germany and France are close to a deal on the Greek default crisis. The article notes that the Greek bailout would be paid by a tax on Eurozone banks, this is bonkers folks, if the banks have to pay more tax they will lend less to small business and people, thus the cut off of money back in to society. The biggest argument from small business of late is that banks wont even invest in good companies, well the banks can now argue that they have to take in account taxes from the EU, and with all taxes they will go up, thus less money in the banks, less investment and then recession, France and Germany GROW UP.

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