Well
it’s been an interesting weekend of development in Les Comédies des Politiques
in Europe. The Euro-fissures are opening wider daily. Geert Wilders has
screamed “enough already” and looks like bringing down the Dutch government;
which will leave the fiscal compact looking a little uncompacted. Poor
Christine.
Though
I say it myself, I did implore you to keep a racing eye out for that fine
French filly, Marine Le Pen making a strong run down the right. She got her
nose to a highly commendable third, right up against Boney’s withers and in the
run off she’s now in the powerful position of being the handicapper. Could
Napoléon offer her a senior ministry in his next administration? Muslim affairs
perhaps. In return for adding some big weights to Francois’ saddle.
Interesting
to note Mr. Wen is in Germany and reported as stating loudly that “the crisis
is not over”. Could he be referring to l’affaire Bo or the mighty Euro? A very
subtle Politburo sense of humour. Ditto for Cristina announcing through her
economy minister in DC that the IMF is spending way too much time and resources
on the Euro. Its charter is for real basket case countries like Argentina that
hasn’t repaid its last bail out from 10 years ago yet. Has them rolling in the
IMF aisles (or their eyeballs).
For
those keeping score, the Euro has now resulted in régime change in Ireland,
Greece, Italy, Portugal and Spain. Now add Les Pay Bas. Not a bad record. On
May 6th France could be added to the tally. Club Med under almost
entirely new management. Maybe they’ll offer Francisco Schettino the job of
entertainment supremo.
OK
I can hear you groan. With good reason. Yet another photo of the ravishing
Christine, sans foulard. I guess she had to press her décolletage into service
to keep the eyes of Little Georgie and others on the ball. However, I doubt
she’s been reckoning on Geert in Den Haag bringing down the burgher government
of The Netherlands. Ambrose quotes Paul Krugman with the first sensible thing
I’ve ever heard him utter “The IMF (aka Mme Lagarde) is helping Europe commit
suicide”.
Watch
out below in the markets at opening tomorrow as the Dutch PM resigns.
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