This
is where us stupid little Englanders said they would wind up – and that years
ago. The choice boils down to the rock and the hard place. Jack (Delors) and
his crony fellow travelers (plus latter-day useful idiots like Barroso and Van
Rumply, Psychozy, Mitterand, Giscard d’Estaing and plenty more – mostly
French), built a house of cards on no structural foundation whatsoever. Even
the Spanish and Italian building codes are stronger than that. It was going to
be a tribute to La Gloire Francaise and keep the Germans under French control
for ever. How did that turn out, Jack? Yet again, the French bring Europe to
its knees in their futile attempt to find a final fix for their deep-seated
inferiority complex. It’s very hard being French – hauteur et doute de soi-même
de mesure égale.
The
bleating, bleeding Euro-hearts now say it’s all up to Frau Angela and Mario 2
at the ECB to fix the mess. Except she (Frau Merkel) doesn’t have the power,
the tools, nor the necessary underpinning of constitutional legitimacy. You
cannot just make this stuff up as you go along. Certainly not when you start
with a democratic deficit of biblical proportions. That other useful Hungarian
idiot, little Georgie Soros, says that Germany has three months to save the
Euro (and the EU). Joschka Fischer – the famous German nihilist, anarchist, ex
Foreign Minister and Cohn-Bendit apologist has raised Georgie’s bet to two
weeks.
What
an irony it is (for unreconstructed Thatcherites) that for all the wrong
reasons old misery guts Gordon Brown, man of the manse of Kircaldy, Fife,
prevented little Tony Blair from achieving his heart’s desire – the UK in
the Eurozone and Blair President of Europe. Narcissism and vainglory are very
dangerous in soi-disant statesmen (see Napoleon). Who’d have predicted gilt
yields would plumb the 300 year depths (even after years of QE ad infinitum)
thanks to the Continental Cousins getting it so badly wrong.
Greece,
Portugal and Ireland are now a side show. Two large and volatile Latin nations
are on their knees begging for mercy. The quality of mercy is not strained. It
falleth like the gentle dew from … Angela and her Bubank?
It
can’t be good if Ambrose is writing twice on a Sunday. He reports that Obama,
Hollande, and Mario 1 called the Ice Queen in Berlin to pressure her into …
what? Whatever it was – Eurobonds, bank bail-outs, fiscal union - she denied
them thrice. They just don’t gettit. Cyprus is ready to fold. The Iceland of
the east (Club) Med. The neo-Ottomams in Byzantium are licking their Turkish
delight. Anything to take their minds off the Syrians stinking up the
neighborhood.
Here’s
a story that’s hard to credit. Little neo-Napoleon, Nico Psychozy after three
weeks locked up with Carla and the baby in one of King Muhammad’s sumptuous
palaces, is bored out of his post-presidential tree. If he’s bored, imagine how
Carla feels. This – like the Euro – cannot end well.
Booker
tells us just how badly.
At
least Bootle sees a silver lining from the coming storm.
There
is now, in my view, only one rational course of action (or could it be a cause
of action)? The Germans and their buddies (Dutch & Finns – Austrians
& Luxemburgers) must leave the Euro and adopt the Deuro. It will be painful
for their banks and exporters. Resign from the ECB Board and invite it to leave
Frankfurt-am-Main for more clement and hospitable Club-Med climes. Maybe Paris,
maybe Brussels – let Hollande and Van Rumply fight over that poisoned chalice.
They can tell the Greeks they’re off the hook, so they can vote nice. Mario 1
and Mariano can print all the Euro’s they want to bail their own banks. The
Deuro will quickly be worth two Euro’s, heading for four in a year or two, ten
within ten. The Ottomans will take the rest of Cyprus, Malta will ask to become
a British protectorate again and Ireland will beg to rejoin the Sterling area.
All will be well. See, that was easy.
London
will remain closed tomorrow nursing its Diamond Jubilee hangover and mopping
up. Markets may still head for the basement. Vivent les Anglo-Saxons.
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