The bond markets are voting with their feet giving interest rates to Italy of over 7%. Spain and Portugal have similar problems and now the people are voting with their feet as well as a number of European countries all seem to have a problem with socialism.
Spain has just shown the back door to the socialists in an election of epic implications and proportions
Italy has its technocrat government and I have to wonder who else will be next to realise It’s easy to spend someone else’s money it’s hard to pay it back.
I further wonder when the people will start to realise that it seems even the bank crisis was just one little gear in a socialist economic engine that was overheating years before the banking crash, which gave the illusion of economic growth at the expense of tomorrow when the debt payments start and the fuel for this engine was borrowed money
I have to ask are we watching the end of a socialist European experiment called the Euro and will socialists in Europe be as rare as chicken’s teeth?
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