“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.
This post was last modified on January 31, 2021
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1+1=POTATO
1 + POTATO = ELEVENTY!
Sadly, most of Europe isn't listening. Then again, the libs here in America think he's a lunatic, doesn't know what he's talking about.
“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%”
Sounds suspiciously like the Obama economic plan.
Certainly it's reminiscent of the TARP debacle!
"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%"
I'm sure that liberals, recent college grads, and certainly the Harvard and Columbia faculties see no problem with this. I'm also certain that Tim Geithner hasn't a clue what Farage is talking about.
Reminds me of the old joke:
Q: "You're selling your product for below your cost of making it. How will you turn a profit?"
A: "We'll make it up in volume."
On second thought--it's not that much of a joke now, is it?
Farage is my favorite Brit since Churchill. Daniel Hannon is good too.
This guy is brilliant.