Little nicky’s friends at The Daily Stirrer has consistently reported the truth about the Euro crisis while mainsteam print and broadcast media have consistently tried to suggest there was nothing wrong that could nut be put right by simply mugging German taxpayers to bail out debt problems in basket case nations like Greece, Portugal, Ireland and Italy. Another basket case nation, one that compounded it’s economic folly by committing to expensive and almost totally inefficient “green” energy projects is Spain. Now as a Spanish economic collapse that will need another massive bail out from north Europeran taxpayers draws closer every day we hear that another small EU nation, Cyprus, has at last admitted it is bankrupt
Spain’s ruling party, only recently elected, has begun to crack under pressure, signalling for the first time that the country may need a European rescue to shore up its banking system.
Meanwhile even the mighty German economic behemoth is faltering as one of it’s main customers, China, feels the pich due to Economic contraction in the USA and Europe.
While British financial markets remained closed today for the Jubilee celebrations, the German stock market fell sharply on fears of US economic relapse after last Friday’s terrible employment figures and news of a sharp slowdown in China. Spanish, Italian and French shares rose slightly on hopes of new eurozone fiscal authority to control national budgets and manage debts As any such scheme depends on German financial stability a news pan European financial policy already looks a forlorn hope..