Euro Crisis Master Plan

STOP PRESS – Now we have a Master Plan!

EU Foreign Ministers meet to draw up a policy re euro crises.

Herman Van Rompuy

European Council President Mr Herman Van Rompuy (aren’t we so lucky to have yet another tier of vastly-expensive management – a President of a country that doesn’t even exist?) said: “Everyone shares the will to go forward together”.

Indeed. It would be rather strange if one or more didn’t share “the will” and preferred to go backwards. But going forwards together infers at the same speed and in the same direction.

The Meeting drew up this plan of action.

  • greater budgetary discipline (will you tell France and almost every other country that never stuck to the 3% budget deficit or shall I?)
  • find ways to reduce the divergences in competitiveness between member states (so German IS going to take over Greece then? What fails in war can be achieved in the economy.)
  • establish an effective economic crisis management mechanism (you mean, prepare to borrow billions more to bail out those who fail in the above two areas?)
  • strengthen economic governance to be able to act quicker and in a more coordinated and efficient manner to deal with any future economic crises (yes, you could get a bit more efficient  than ignoring the rules for 10 years – certainly scope for improvement there.)

Is there any way not to be simultaneously cynical and depressed about Europe at the moment?

By Chris Snuggs

3 thoughts on “Euro Crisis Master Plan

  1. We need the euro at parity with dollar to show the USA European might, ASAP. We can play their games with currency too. I can’t wait to buy all this cheap European stuff.

    We also need more elements of economic governance. Right now Spain and Greece took their orders from France and Germany. Merkel’s proposition to cut off subsidies to straying states was welcomed enthusiastically in France. Thus the teacher is proud when the child repeats the lesson well.

    That France and Germany did not respect the 3% limit was their sovereign right, and they used it. Fundamentally the euro is about them, not Estonia (Estonia will join the euro in 2011), or Romania (de facto user of the euro). The others are guests, to put it crudely.

    Japanese economy would not exist, but for deficit government spending, the total of which is about nearly total Greek debt.

    The funny thing in all the euro and European hatred is this: if Europe is so unworthy, why all the worry? Great Britain and its independent Pound, and splendid special relationship will just come to tower above the rest of the EU. I am sure its deficit, higher than Greece, will help.

    I would suggest to concentrate indignation on the rotten British monarchy, which sells access to trade representative, Prince Andrews, on TV. (In Britain, being a trade representative is a question of blood line, down with the euro?)


  2. I meant Japanese total debt is TWICE Greece’s (200% GDP). 40% of Japanese GDP growth is government based, over the last 20 years.


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