Spain and the Eurozone

Telegraph Live - Markets: Reports in its 12.55pm post that the new Spanish PM Mariano Rajoy has stated that Spain will not go to the EU, and in his words with its begging bowl. Lets see folks, Spain is in a mess, it has planned billions of cuts, its has the highest unemployment in the EU, and even the cuts planned by the new Spanish Government will not bring it down to the level just agreed by all EU Countries. It can be argued with some justification that Spain is heading the direction of Greece, can the politicians get the people to accept the tough German Austerity plan for the EU. In Greece there is going to be a General Election, from polls it seems that the pro austerity Parties are going to lose out to Parties that oppose the harsh austerity plan of the Coalition Government, also in France the French Left Candidate is promising massive Government spending and tax hikes that would make you eyes water, thus the rich French are going to come over to the UK, its 45p in the pound for the higher tax payers. If the French left are elected expect France to be the next target of the bond market. The economic cliff could not be that far away folks, France might take down the Euro and the EU.