Monday, March 15, 2010

The economic crisis continues

Well, with a short intermission into gun-control, fascist governance and shooting sprees I find it kind of relaxing going back to what I know best and to the the reason this blogs really exist, namely our current financial dilemma.

It isn’t just Greece going over the cliff, the Baltic States, Iceland and many others are hanging on by a thread.

Spain is maybe the next funny thing, or maybe it will be Portugal, or Italy. Hard to tell really. What we do know however is that Germany is getting a lot of heat from other countries in the Euro-zone because apparently they are doing too well and don’t have as high pay increases as the others. This is a problem since the European Central bank (ECB) cannot heighten or tighten the screws to fit everyone so many feel that Germany should be less responsible so the ECB can ‘help’ everyone.

Meanwhile, in the real world, Greece haven’t really begun doing the right thing yet and already have riots so it isn’t surprising that the Finance ministers from eurozone states will today attempt to paper over cracks and try to reach agreement on a €20bn-€25bn aid package to help ease the financial crisis in Greece.

I hope they do it. I truly mean that. Bail out the suckers and then watch the rest of the PIGS (and after that all of them) beg for financial aid. As I’ve said before, if they decide to bail out the messed-up idiocy that is Greece, that will be the beginning of the end of the Euro, so I welcome it. Do it.

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