Wednesday, July 25, 2012

Europe 1 year ago, Yucking It up, high five!

I keep this as my home page for "The Telegraph" to Jul 21, 2011 One Year Ago....

Hilarious to see these guys presiding over a disaster and yucking it up.   So proud of themselves.

Europe's leaders have grasped the nettle. Faced with a spiralling bond crisis in Italy and Spain and the greatest threat to the EU project for 50 years, they have ripped up their bail-out strategy and taken a large stride towards a "liability union". 

 The three rescued countries of Greece, Ireland and Portugal have in turn been offered a lifeline out of crippling debt-deflation.

The tetchy negotiations dragged on for hours, with an irascible Finland at one point demanding that Greece offer the Parthenon, the Acropolis and its islands as collateral for the second €159bn rescue package.


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