Wednesday, February 29, 2012

My fiend 'James Tyler' has sent me another screed - this one on how Mr Putin is going to deal with all the drugs which the CIA has been sending to Russia so as to undermine the place. If you're really interested, I guess a search using putin and drugs would work.

The Spanish President has met with the the President of the European Commission to talk about the forecast deficit for 2012 and to beg for some relaxation in the Brussels-imposed figure of 4.4% of GDP. But he had no joy, despite insisting it's unachievable. Brussels wants details of both last year's failure to hit the 6% target and also of Spain's budget for 2012. Presumably the technocrats want to know where they can demand more austerity.

In Ireland, in a move which has sent shock waves through the EU, the people are going to be given a say on whether their government becomes an official satrapy of Brussels or not. This means "there is a possibility of a real political blow against the disastrous and undemocratic policies that have been pursued since the crisis began. A Yes vote means the continuation of the nightmare. A No vote would be a blow in favour of all the victims of austerity and for all democrats across Europe. If Irish voters do reject the treaty, they will be performing a great service to the population of Europe. It could mark a turning point in the EU and beyond, pulling the brake on the austerity express before it hits the buffers."

Meanwhile, the European Central Bank is again lending money to EU banks at 1% so they can buy sovereign bonds paying them 3%. This looks like a backdoor way of doing the 'quantitative easing' (i. e. printing of money) that the Germans don't like and won't countenance because it's inflationary. So nobody tell them, OK?

Finally . . . Did you know that Google's 'Page Ranking' gets its name from co-founder Larry Page and not from what you thought it did? Honest.

1 comment:

Alfred B. Mittington said...

Unfortunately, the Irish referendum is only symbolic. It is not binding, and the predictable No will not turn into a veto for the EU as a whole. Only 12 of the 25 countries involved need to ratify the new EU Austerity Rules for this treaty to come into effect. The mob of national rubber stamp parliaments – packed with Euro parliament hopefuls – will neatly take care of that.

Which does not mean a Yes isn’t ardently wanted for reasons of prestige. See the end of yesterday’s post (Golden Quotebook 4) on my blog for that one.