Sunday, 25 March 2012

Here We Euro Go Again.

As I said last Oct "Things like currencies and political alliances fizzle out rather than burn out quickly..."

Another downfall chapter beckons.

The simple facts are that the markets have sussed the Euro out for what it is, they have tested it and found its weak spots, they know that without a common pool of debt "Eurobonds" it is over, its just a question of when.

All of which asks a very interesting question of the Germans, are they prepared to dump their constitution, and more importantly are the German elites willing to ask the German people for permission to do so. Is Frau steering the ship towards dumping the constitution on article 146 of the Basic Law, and having a new one based on EU/Euro law all fired up and ready to print?

Even if Germany becomes the de facto ruler of the EU, it does not solve the demographics, the north/south imbalances or the debt problems.

As empires go, the EU one is looking pretty third rate.

venta! venta! venta!

Or as Debbie Harry once said.. Fade away and regulate.

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