IT’S NOT ECONOMICS JIM AT LEAST NOT AS WE KNOW IT!

It must be approaching the end of the fourth year that the EURO has been under attack which is weakening Europe’s ability to trade around the world. This is not a cyber attack but its consequences are far greater. This fledgling currency born from the need of a united european trading block to compete with North America and China was fast becoming an alternative to the dollar. The oil trading nations had threatened to switch from the american dollar as far back as 2000. President Bush eliminated that threat as well as Saddem.

Since Greece was allowed to join the eurozone it was apparent that that country was the weakest link in the eurochain. Worthless bonds were fed into a failing economy by the international banking syndicates. When suddenly the pack of the american plastic card economy collapsed, all hell broke loose.  That countries economy is in a mess but its citizens refuse to accept that fact and politicians are more obsessed with the ethnicity of their president than implementing sound and judicious economic solutions.

Meanwhile Europe grits its teeth while  jobs, pensions education and healthcare are sacrificed to save, not only the euro but also the British £. Europe burns while america fiddles.

Many months of negotiations were to culminate this week in France with a rescue package for the Greek economy. The Chinese president was in attendance with his chequebook to assist, at a price not fully explained, in the financial rescue.

Yesterday in a plot not even Hollywood could not have conceived, the financial stability of Europe is not on the edge but is careering down the slope of disaster. The Greeks decided to ask the people for approval of the economic package in a referendum ! If the greek premier believes so much in democracy why weren’t his voters asked there opinion last spring, thus preventing a costly summer of discontent ???

Democracy, it has been said, is the last bastion of the scoundrel. I have been asking myself overnight who are the scoundrels who will benefit from the removal of the economic and monetory threat from Europe? I can only come up with one answer. Is it a conspiracy you ask? I cannot possibly say.

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