£6billion to Portugal?

[usedbustickets]

Thank you all for making clear on what has caused Stoop to be in a lather.  My recollection of signing of that particular agreement was that it was not driven by Darling and Brown altruism towards eurozone countries, but had more to do with the fact that all EU countries were under threat from financial collapse.  And if we didn't stand together, we were all at risk of going under, either one at a time or all together.

And the 6bl guarantee - not cash - to Portugal is a small price to pay to prevent a further financial slide for all.  Although let's not kid ourselves the price being paid by Portugal, Ireland and Greece is far higher in economic, political and social terms than the UK is paying, even with the ideological crusade of Dave and George, with the support of the Lib-Dumbos.

[usedbustickets]

quote:Ossie has probably forgotten; he's good at that - he has completely no recollection of the worldwide crisis of finacial capitalism and thinks George Brown caused all the difficulty

Colwyn.. I'm of an age that I remember George Brown, as I suspect are you.  However, as much as I couldn't stand the pompous drunkard old sod, I find it hard to pin this latest collapse of capitalism on him, as he'd been dead for for over twenty years when this latest crisis hit us. Shome mistake here Gordon:D

[Colwyn]

Oops.

[waterdragon]

And let's not forget that the primary beneficiaries of these guarantees will be Germany, France and the UK. The exposure of the banks in these countries to a default in the PIGS would bring on another crash. A good lesson in the fact that we are all inextricably linked together. So turning the other way is not really an option.