“The euro Titanic has now hit the iceberg and sadly there simply aren’t enough life boats.”
“The euro Titanic has now hit the iceberg and sadly there simply aren’t enough life boats.” “A hundred billion [euros] is put up for the Spanish banking system, and 20 per cent of that money has to come from Italy. And under the deal the Italians have to lend to the Spanish banks at 3% but to get that money they have to borrow on the markets at 7%. It’s genius isn’t it. It really is brilliant.” Well, if the goal is to accelerate the onset of a disaster, it should work like a charm.
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
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