Friday, November 04, 2011

Eurozone crisis

I am a eurosceptic. I think free trade between the European countries is good, but this vast political union is a bureaucrats dream and a citizens nightmare. The euro will fail or be drastically reduced. I expect Spain, Portugal and maybe even Italy will be next. The economies of these countries are far too different to allow successful monetary union without pretty much political union. If HM Uk Government were smart they would leave this train wreck and sign individual free trade agreements with the Commonwealth and the United States. Citizens of Europe, take back your freedom , leave the EU!

French European Affairs Minister Jean Leonetti said on Thursday the euro zone could survive even if Greece were forced out of the 17-country currency bloc.

Speaking on radio, Leonetti reiterated that if Greece failed to accept austerity measures included in a rescue package agreed last week, it would get no more aid, forcing the country into bankruptcy and meaning it would have to leave the euro.

He said Greece only accounted for 2 percent of the region's gross domestic product (GDP) and 4 percent of its total debt, and that the region would survive.

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