When the PIIGs have Wings

Here we go again. The Euro is descending and there does not appear to be a parachute. Portugal's borrowing rate is going through the roof and Ireland does not look like it is going to be able to meet the recent Euro bail out requirements  (See FT Here). The Spanish economy, or rather, what is left of it, looks like it will need a massive transfusion of Deutschmarks  Euros in the near future.

The PIIGS, are perhaps better known as that friendly, "lets-party!" group of nations, Portugal, Ireland, Italy, Greece and Spain. Like us, they blew all their money on "Services" while letting those boring old manufacturing industries wither on the vine.

Luckily though for the bankrupt PIIGS,  they have their bosom buddies in dear old Deutschland. Kindly Angela Merkel will no doubt chastise the errant Europhiles, but she is always there like a good auntie, ready with the credit card.

To be fair though, this is only reasonable. After all, it is the Germans who enjoy all that slave-like dedication to work, over-time and hard labour. The Germans can get on with their toiling.  Meanwhile the PIIGS can do what they are truly superb at doing, and all they need to do that, is a nice new credit card from the Bundesbank.

I keep telling my oily rag German friends, "You know it makes sense".

I tell them that in fifty years time we can all look back on this and laugh.

For some reason though, at the moment, they do not seem to be particularly amused.

The German Cash Cow

Oh Doom.

The Euro is diving.

Billothewisp sends his sincere condolences to our euro-patriot German taxpayer friends.

But never mind.

I'm sure the Greeks, Spanish, Portuguese, Italians and Irish will really pull back on their expediture.

I am sure they really would not want someone else to be picking up the bill for their profligacy.

Surely their honour will not be compromised!

I am certain that they are thinking all the time about the cost to you my German pals.

That is the glory of the Euro.

Everyone contributes spends according to their ability and then they all try and pay the bills.

But, unfortunately, it also looks like paying the bills is going to be done according to ability.

So, our illustrious German friends, it looks like you are going to pick up the tab.

Tough luck my friends.

Life is hard and unfair.

Especially for you and the Euro dream.

Cuts for the Old. Foreign Aid Ring Fenced

I cannot believe this. Our political leaders have all queued up to emphasise how they are going to ring fence foreign aid. Now Clegg wants to cut winter fuel payments to the over 60's. See BBC news report here

I must be missing something here. Who comes first? British people at the end of their working lives or foreign governments?

Most of the aid recipients are massively corrupt. Others like India and China are running huge budget surpluses. They have the money, but they choose not to spend it on their poor. They let us do it instead.

I appreciate that the winter fuel payments for the under 65's may have to go due to the catastrophic economic situation we are in, but surely at least some of the £8 billion foreign aid budget should go first.

If you want to see why people in this ruined little land of ours cannot be bothered to vote then this must be a iconic example.

With this we see our political leaders displaying exactly how unimportant they regard the common people in this country. They seem all yearn to strut about on the World stage showing how generous and globalised they are, while their own people can go to hell.