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Sunday, October 23, 2011

Europe Is Fucked!

Those of you who still think that the "leaders" of the Eurozone are capable of "leading" Europe out of its financial crisis, may care to read a few choice extracts from a report in the Telegraph about what really is going on at the Euro meeting this weekend:

"She says she is on a diet and then helps herself to a second helping of cheese," the French president allegedly said after a dinner meeting with Mrs Merkel....

Francois Baroin, the young and inexperienced French finance minister, attempted to hit back, complaining that the IMF's default medicine would hit France the hardest; the country's banks are highly exposed and could threaten its "untouchable" AAA rating. ....

But Mrs Lagarde, who had held his post until taking up the IMF job this summer, "shut him up" by brandishing the report and pointing to it its detailed figures. "She really slapped him down - and in perfect English too, a language he cannot speak," said a diplomat. ....

Their shouting could be heard down the corridor in the concert hall where an orchestra was about to play the EU's anthem, Ode to Joy," said an incredulous EU official. .....


So pointless was the gathering, that Didier Reynders, the Belgian finance minister, left early to attend the world premiere of the new Tintin film, The Secret of the Unicorn. .....

Wolfgang Schaeuble, Germany's finance minister, could not resist taking an "I told you so" approach - he had been, after all, the first to call for an "orderly" default for Greece 18 months ago, at a time when the cost of such a move was less than one third of the price today. 
 
"Schaeuble is a man who does not mince his words, whose reputation for harshness and arrogance is well earned. He was, frankly, unbearable," said one diplomat. ....

It was grim. The worst mood I have ever seen, a complete mess," said one eurozone finance minister." 

It should be clear to even to the Europhiles, that Europe is fucked!

Learn this for prep:

- There is no plan
- There was no plan
- There never will be a plan

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