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January 13, 2012


It doesn't add up...

The Chinese downgraded France back in early December:


Andrew Smith

I am beginning to believe that the political class did not even understand the objections to the Euro when the matter was argued about all those years ago. I had assumed before that they knew well enough but thought they could achieve political union in time, but after the single currency came about.

As I say, it now appears to me they did not understand any more than Kenneth Clarke understood the Maastricht Treaty which he supported despite admitting he had not read it.


Not one penny more should the UK taxpayer contribute to propping up the Euro - whether directly or via the IMF.

France and Germany wanted the single currency and 17 countries joined the Eurozone. Let them pay for it.

Paris Claims

If governments stopped wasting money they wouldn't need to borrow any. The PSBR should be consigned to the dustbin of history.


Would this be the same Standard & Poor ratings agency that gave Lehman Brothers a clean bill of health?

Hmm...not sure we should take their view so seriously, especially as S&P seem to have European problems of their own:


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