A View From Middle England - Conservative with a slight libertarian touch - For Christian charity and traditional belief - Free Enterprise NOT Covert Corporatism

Friday, July 22, 2011

Bad debts and Greek urns - a European tragedy

I've just seen Judge Judy lambast a silly woman for paying a man (somewhat younger than herself) money on a monthly basis even though the man failed to repay the previous month's "loan". The hapless woman, after six months, decided to send a promissory note to the man. He decided not to sign but ask for a further loan, which she paid him. When no repayment was due she thought Judge Judy would settle the dispute. Not likely! The woman was told she was dimwitted and the man, who presented himself as the woman's paid "boy toy", was described as a "not nice person" by her honour.

This legal ding-dong had me thinking about Greece begging for money. The Greeks have apparently spent beyond their means, no doubt trying to find favour with the European Commission and its desire to bail out those who haven't paid the previous bailout. All the EU bigwigs are patting each other on the back but the crisis hasn't gone away. It's just been squeezed, elongated and generally made to look like something completely different.

I don't quite know who is supposed to repay the debt. The Greek people, or at least 70% of them, are saying they are not. I can't see the Greek government raising enough in taxes to pay back €100 billion. I assume some level of interest is included in repayments. It's all like a financial merry-go-round, with the horses looking very much in need of a new coat of paint. It's all going to benefit those who can make money out of debt and ruin those who have to be sacrificed at the altar of EU statism.

No wonder they needed those tanks on the streets of Brussels yesterday. They're scared witless what the people might do next.


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