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Monday, July 04, 2011

The Tragedy of Joining The Euro

Standard & Poor's (S&P) have stated that the French plan to allow Greece to voluntarily change the terms on some of its debts would constitute a default "under our criteria", albeit a selective default (as the change would only apply to French banks).

Couple this with the privatisation plans and changes required to the tax system etc, in order to ensure that it receives a second bailout, Greece has all but relinquished sovereignty over its own affairs.

That is the price for wanting to be part of the Euro club, and for committing fraud in order to join it!

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