Telegraph: Reports that the former Labour PM Gordon Brown has stated that Italy and France might need a bailout.
Lets Get Real:
This blog does not have a lot of time for Gordon Brown, that goes for the Labour Party and the UK, but and there is always a BUT, when it comes to his finical outlook one has to say even if it is not popular he did one great service to the UK, he placed a block on Tony Blair going in to the Euro. Also his management of the financial crisis in 2008 was excellent, that was Gordon Brown at his best, that didn’t happen much but it did happen. This warning by Mr Brown should be taken seriously, President Hollande has made political promises that do not match the reality of the French economy, he has reversed the pension reform of the last conservative government and is promising to spend on the public sector, thus one can see a future bailout, if Greece goes then Italy could get hit due to its banks holding Greek debt. It is a pity that Brown does not play well with others, there could have been a role for him in this crisis .
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