6% Over a Cliff = Italy and Spain

Guardian: Reports the following on the Eurozone crisis, “ Interest rates on Spanish and Italian bonds rose to well above 6%,….the beginning of the bailout process for Greece, Ireland and Portugal. ”. It could be this stark folks, the cost for Italy and Spain to secure their bonds could just be to much if they stay at the 6%, its simple folks, there is to much debt, not enough money coming in and the welfare state is growing due to the austerity packages followed by Italy and Spain, it’s a vicious game folks, the money markets demand that the Government cuts its debt, this means less Government spending, less growth, less jobs, thus more of a welfare bill. This is mess that has no easy answer, the only answer in the short term is to bailout out Italy and Spain before they take down the whole of Europe. Its depressing folks.

Emergency for Italy = Debt

Telegraph: Reports that Italian Government is to have emergency meetings with the EU to discuss the fact that Italy could be the next country to become the target of the bond markets. The politicians should know that August is a very bad month to go on holiday, disasters of late seem to happen when politicians take their eyes off the ball, thus time for our distinguished Masters to come home and deal with the next crisis for the Euro. This blog will postulate that Italy will ask for a temporary bailout of billions, its going to cost folks. Well if the UK has to bailout out Italy it should come at a cost, the return of some powers to the House of Commons, our rebate be secure and agreed in treaty, lets make sure Italy pays for any UK bailout.

Spain and Italy in the Spotlight = Debt Risk

After Greece (2) Ireland and Portugal, then Spain and Italy, then the US, now back to Spain and Italy = Debt.

BBC News: Reports that the Spanish PM Jose Luis Zapatero has had to cancel his holiday plans after the cost of Spanish borrowing went through the roof, it was joined by Italy. The contagion of Greece has happened folks, the EU in the not to distant future will have to bailout Spain and Italy, this will take trillions, all EU countries including the UK will have to get their wallets out, its going to hurt folks, the tax payers are not going to be happy, it either bailout Spain and Italy NOW or later and its will costs even more trillions, the bad times are not over folks, its going to take years and mass unemployment and the cutting of the welfare state in Europe. A lot of suffering before the light folks.