Holiday in Spain…

11 Jul

“It is to be recession there, recession here and some measly cup of porridge for all.” 

The Germans have just about reached their limit and are signalling to their EU dependents that it’s nearly time to move out of the basement and get on with their lives. The German court has indicated that further funding by Germany of the European Stabilization Mechanism is unconstitutional.  Portugal responds ruling that cuts to public pensions are unconstitutional.  France is well…France (can’t be long until there’s riots in gay Paris).

The amount of capital being used and the ability of anyone to pay for what now must be paid or, if not, what cannot be paid is now like an anchor firmly strapped to the neck of the beast and the stumbling increases with the weight.”

With the Germans dictating the terms in Europe – and the French in deep denial – what could possibly go wrong…

h/t Zero Hedge

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: