THE EU DISASTER

So the EU catastrophe goes on.
The EU powers were pleased with the Greek election result but less pleased 24 hours later when the markets did not respond in the way expected or hoped for.
Spain has now been hit by high borrowing costs and will have to be bailed out and other EU countries could follow.

I find it difficult to get my head round all this financial jiggery pokery but it seems that the Spanish government has to borrow money at 7% to bail out their banks. But these banks must contribute to the ECB at a rate of about 1% so that they can bail out the Spanish government.
And so the money goes round with the bankers taking a cut at every transaction while the massive debts and interest liabilities will lie at the door of the Spanish people.

A similar scenario obtains in Greece. The ECB lends Greece money so that they can repay the ECB money previously borrowed. Of £1 billion lent a few months ago £900 million was used to pay the central European banks.

The EU is ruled by unelected bureaucrats put in place or sustained by the banks which must not be allowed to fail, and the people suffer.

In addition a cohort of fanatical Eurocrats who have made this ill conceived project their life work are prepared to bring Europe to  poverty and strife before they will admit they and their concept are wrong.

Different countries and people with different geography and traditions can not be melded into a unified system. The Eurocrats whose whole life has been dedicated to this will not of course let their project go, however much damage it does to the people. They push for more integration of policy and taxation in spite of this not having been voted for.

Democracy is put aside. Ireland at first voted against EU policy buit was strong armed into voting again with menaces. Voting the wrong way is not allowed.
Similarly France and the Netherlands voted against further integration and were ignored and we although promised a referendum have been denied this. The liar Cameron said last week that the British people did not want a referendum on the EU in spite of polls suggesting an overwhelming desire for a referendum.
The fact is he knows what the answer would be, and he is supposed to be a Tory eurosceptic.
He is a cheat.

The creepy unelected Marxist Barosso said last week that there was no provision for an exit from the Euro. In other words those in this failed concept are trapped, prisoners with no escape.

Now I do not like any system which traps me in it. It is unfree and undemocratic and is a sign that those proposing it have not the courage of their convictions. It means that if the idea is proved wrong there is no escape.

The final irony yesterday was Barosso telling the Americans that Europe is a democratic continent and can not do what it wishes without a mandate from the electorate.

In that case why is he calling the shots in Mexico? Nobody voted for him. Neither did they vote for the present Italian leader. He was imposed on that country at the behest of the banks.

The ever rising debts of the Euro zone can never be paid and the whole rotten edifice will eventually collapse with untold poverty, but the banks will continue to make their profits until that time.

With luck those who brought this failed and deceitful political union and their banker friends will get their just deserts. Lamp posts will be useful then but in the meantime how about each country guaranteeing the bank deposits and letting the banks fail?

It could lead to a period of turmoul but it will be worth it if we can rid ourselves of these political parasites and usurous bankers.