The EU absurd Friday...

Today after the credit rating of Spain was cut and the interests of Italian bonds rose, the French presidential candidate from Socialist Party - Francois Hollande decided to attack directly Germany, blaming it in trying to rule the EU alone. Can you imagine a more absurd situation than this...

 Europe has printed 1 trillion Euros in an attempt to save itself from the debt crisis.

 Despite of printing the confidence is lost and the interest rates on suspicious countries bonds restarted rising (Italy and Spain).

 In Spain the government said it will not make reforms, as it can't do them.

 In Italy are just sitting and waiting for the storm to pass by.

 In Netherlands the government resigned.

 In Greece elections are ahead with expected after that a coalition of minimum 3 parties. With some luck one of them will be anarchists. Without luck it will be fascists.

 And in this situation the French presidential election front runner says that Germany will not make the EU decisions alone. The fiscal pact is to be renegotiated. Austerity is not a decision, stimulating the economy by the government is better...

 What will be the output of this mess in Europe? How do you think? How France will stimulate the growth with non-existing money? How can this be done even with newly printed artificial money, after we have seen the result of an 1-trillion attempt. Failure. How can the Euro as currency be saved by states that find the decision is in inflation? And at the end - what will happen in Europe that believes the problem is in Germany and not in its own enormous indebting and factual default...

 Dobri
April 27th 2012

P.S. Later at that day the government of another EU member - Romania lost power after a no-confidence vote in Parliament. The government has been in power only 2 months and tried some spending cuts...

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