Keith
Keith Hudson, Saltford, England http://allisstatus.wordpress.com
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Yesterday's dramatic enlargement of the Eurozone to 26 countries
amounts to little more than a cosmetic camouflage of the two real
problems of Western Europe. One is that governmental debts are still
growing even in those countries which have adopted the most austere
spending programmes. The other is the near-bankruptcy of most of the
major banks of Europe and their unwillingness or inability to lend
more to potential start-ups (always the biggest generators of jobs,
particularly for young people). Is it to be the case of a gradual
spiralling downwards into long-term depression, or a catastrophic
chain reaction sparked off by either the bankruptcy of a large bank
or the default of one of the original Eurozone nations? The largest
investment funds are not happy with yesterday's political sham, and
neither is this humble observer.
