Friday, 15 June 2012

The EU House of Cards

The EU House of Cards

One by one, EU countries are being pick up as easy prey by creditors encouraged by the wrong kind of economic policies that lead millions of families across Europe into lives of frustration and despair.

In France, reports indicated that in Parliamentary elections merely 21 per cent of all French voters bothered to vote. The low turnout is even worse than the low turnout registered in recent elections in the United Kingdom.

Italy is run by an un-elected Prime Minister that replaced elected Prime Minister Silvio Berlusconi and on Sunday the scores will be settled in Greece.

The Spanish government is desperately trying to convince the Spanish people that something is being done to avoid the inevitable financial crunch but investors and foreign governments are giving us the real picture of what is actually going on with interest rates on Spanish debts bonds at an all-time-high.

In what concerns the United Kingdom, I reckon nobody really knows what is going on in financial terms. In actual fact, complexity is being used as a smoke screen to hide difficult truths.

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