Wednesday 22 August 2012

Confused By The Euro Crisis?

I bet you are. Go on, admit it, you don't really have a grip on what is going on, do you? A big part of the reason for that is undoubtedly the shockingly poor quality of the reporting in the British media. I remember in my last years at school, my Dad trying to contact an executive at a paper that he was in the armed services with and receiving a stock reply about qualifications.

My Dad was more keen on my getting a job than qualifications so that was a dead end. Today one can only surmise that to write for national media, you have to be the thickest person you know and have no ability to understand anything more complex than a ready meal.

So day after day, the papers have stories, totally at odds with each other, but without any recognition of that fact, about the ups and downs of the markets and the likely success of the Euro/bailouts. Today the Greeks agree and the markets are up, tomorrow they disagree and markets are down. No-one points out that the markets make money on anything, as long as they predict it.

But here is the bottom line. The Germans are the only ones who can bail out the Greeks and they are not going to and never were. The delays and protestations otherwise, are just to keep the Euro stumbling along. The Euro is a political construct, not really a proper currency and saving it is mere politics too. The cost to the little people is entirely inconsequential.

The markets should be considered an irrelevance as they merely bark at cars. Certainly they can do a lot of damage and politicians need to pay them heed, but to us, the poor bloody infantry, they might as well be Martians. The markets will do what they will do. What we need to worry about, what we need to address (and urgently) is the bureaucrats of the EU. They are creating very dangerous paths for Europeans to follow that suit only them.

The Euro is going to fail. It always was and the inevitability of this outcome has been long predicted. Whether they will take it as far as war, only the politicians, driven by the bureaucrats can know. Greece may leave, Germany may leave it is all of a muchness; the Euro cannot exist - it is an abomination to nature.

If you do not believe that Britain should never have joined the EU and that we must leave it immediately, then you also wish for the Sun not to rise tomorrow. Ted Heath should have the same respect in Britain as Vidkun  Quisling in Norway, their faults are so similar.

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