Italy in the Spotlight - Eurozone Crisis

Guardian Live: Reports that EU is waiting for an economic plan from the Italian Government that will have cuts and get Italy moving on the economic front. The EU will be waiting forever folks if they think that PM Silvio Berlusconi is going to do anything that is a threat to his base of power, the Italian Government is a Coalition Government, as with the Lib Dems in the UK the power of movement by Berlusconi is limited, as the article notes his allies have vetoed reforming the retirement age in Italy, also lets be honest here folks, the Italian State is owned by the European Central Bank, if the ECB says jump the Italians have to say how hi Sir, the dressing down of Italy by Germany and France has shown how weak the Berlusconi Government is on the political and economic front, if Italy goes under then you can forget the Euro, the major aim will be keeping the EU going, its that serious folks. In other words EU cant not push Italy to far, what if they decide to default for their own well being, that would be disaster in the short term for Rome but a end event for the EU. Thus Greece might be a sideshow folks, it could be that Rome is the new crisis centre, there are limits to how much the German taxpayer is willing to fork out folks, could Italy destroy the EU?.

George Osborne - Euro HERO ?

Telegraph Live: Reports that the Coalition UK Chancellor of the Exchequer George Osborne is getting praise for keeping the EU finance ministers in talks on Sunday. This will keep the Labour Party quite, the right wing Conservative backbench MPs will not be happy, Mr Osborne can forget becoming the next Conservative Leader. At the end of the day it will take the UK at the tiller, as long as it does not cost the UK taxpayer any more money, a good days work by the Chancellor of the Exchequer.

Big Plan NO Details - Eurozone Crisis

BBC News: Reports that Finance Ministers in meeting set for Wednesday before the EU leaders meeting has been cancelled till after the leaders meeting. Thus politicians will come out with a BIG PLAN, that’s the hope but no details, the devil is always in the detail folks, recall the Gordon Brown Budgets, always look good but then a dark cloud was always in the details. The Stock Markets have not reacted well, then have gone on a dive, but why they went up is a bit of mystery. Lets see if the EU meeting on Wednesday is all smoke but no substance, the markets will tank if that is the case folks.

42% Approval for POTUS - Gallup

Gallup: Reports on its daily poll on the job performance of President Obama, today the Oval is down to 42% Approval, while 50% of Average US voters Disapprove of the Obama record. Just after the death of Colonel Gaddafi the Oval was up to 44% but the poll raise didn’t last long, after the death of OBL the Obama polls rose but the bleak economic news has kept POTUS under 50% for months now, the Chicago re-election committee must be worried that that if unemployment stays at around 9% the US voter will write Obama off, and start to listen to the economic solutions of either Governor Romney or Cain, the idea that the Obama could use the 2004 playbook of Bush 43 is rubbish, Obama has made it a theme of his Presidency that he is not Bush 43, to change in to Bush 43 at the last minute is up there with thinking that the Titanic could not sink or the Democrats view that Reagan would be easy to beat in 1980, just out there folks. But the usual warning folks, its early, lets see if the Oval can change the course of the U.S.S Obama, it would be a political miracle if Obama can get a second term folks.

Conservative Revolt - EU Crisis

BBC News: Reports on the revolt by Conservative backbench MPs on the demand for a EU Referendum, around 80 Conservative MPs defied the PM in supporting a EU vote. The left wing media will see this a snub for the PM David Cameron, they are missing a point, the UK Government is a Coalition Government, also the Opposition supported the Government in opposing a Referendum vote. Thus the vote was 483 against the vote, while 111 voted for a referendum, there will be Labour MPs who broke a three line whip to oppose their own leadership. This vote in a ironic way will help PM Cameron in the EU, he will have to stand firm, he will have tell his fellow EU leaders, “ look I can only go so far, my Party wont wear any weakness on my part etc, ”, thus the PM can call for more powers to be returned to the House of Commons, also the PM will have to be tough with the Lib Dems, he will have to call their bluff, will they really walk out of the Coalition if the Cameron takes a tough stand over the EU, if a General Election was called tomorrow the Lib Dems would be toast, thus Cameron should call their bluff, politics is a ruthless game, time for Cameron to be tough with EU and the Lib Dems.

Campbell vs. Germans

Alastair Campbell’s Blog: The Master Spin Doctor has a go at the Germans, AC states the following on the Germans and the Euro crisis, “ ..turned a fair few blind eyes to the economic realities of smaller countries when they let them in. ”. In other words it’s the fault of the Germans, thus it can be argued that they should agree to a two trillion stability fund and the bailout of Greece, while there at it they should underwrite ALL the debts of the EU Countries. That would be a simple answer to a complex answer problem folks, just one minor thing folks, its called Democracy, the German Supreme Court has made it clear that the German Government cant agree to underwrite the rest of the EU, its against their Basic Law. Also this blog has its doubts that the German Coalition Government could get such a Bill through its Parliament. The Greeks are heading for the toilet folks, in an article in the Daily Telegraph it was reported that the IMF has refused to do another Greek bailout because they don’t work folks, Greece is a open sewer, good clean money just goes down the toilet. In basic health terms, Greece is a cancer on the Euro, it has to be cut out, removed then the patient might just get through, and that’s 50/50. The EU needs time to secure EU banks against a Greek default, once the banks are secured Greece will be thrown to the wolves, it has to be folks, otherwise it will kill the body politic, time for the EU to be ruthless folks, don’t accept any more Trojan horses from the Greeks.

The Chicago Foreign Policy vs. US National Security

The Hill: Reports that Republican Senator Lindsey Graham has accused the Oval of allowing the Chicago Re-Elect Committee to run US Foreign Policy and not to the national security benefit of the US. This is a serious charge folks, but it happens to be true, the Oval is scared that it will be a one term Presidency, it needs the liberal left wing base, thus the withdrawal out of Iraq and the removal of troops form Afghanistan at the height of the Summer War fighting season. The removal of all US troops from Iraq will allow Iran to make Iraq its puppet or worse, it could invade Iraq close to 2012 election, this would show how shallow the Obama Administration is, also the Taliban/Al Qaeda could mount further Tet style offensives before the November election. This short term tactical moves by the Oval could come back to haunt the Obama Campaign, in many respects Obama is turning in to LBJ, hubris before a fall folks.