Thursday, May 12, 2011
Only the start
The Daily Mail is telling us that Britain could face a £3.2billion bill to bail Greece out of its latest financial crisis. Well, that may or may not be the case – the Greek economy may implode before the deal can be stitched up.
Either way, it is going to cost a lot more than that, as the knock-on effects are going to do serious damage to every economy in Europe, including our own. You would think, therefore, that the UK would be battening down the hatches, trying to minimise the effects of the fall-out. But not a bit of it. We are still chasing hair-brained schemes that can only do more damage to the economy.
Still, at least we don't have to comment about the Irish. They have acquired their own commentator, who is asking many of the questions we have posed – albeit with not quite the same style. Unfortunately, much of this also applies to the English.
COMMENT: GREEK THREAD