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Latest EU Report – Economic Forecast Even Worse Than The USA
sovereignindependentuk.co.uk
If you don’t get this please pass it on to someone that does. Once again our so called representatives and the BBC have been guilding the lilly the EU or any related economy is not set to recover.
The Euro chickens are coming home to roost. The europhiles are playing the last waltz on the Eutitanic we await the blank screen followed by “Game over please insert coin – Euros not accepted”
Cameron is sitting on the fence a manacle around his leg chained to the foundering EU lets not sink with them, whatever Leon Brittan tells him to do.
Zerohedge reports
Axel Weber Warns “Euro Will Come Down To Earth.. Markets Are Disregarding Risks”
It’s not all ponies and unicorns in Davos today. Paul Singer’s dismal views on financial fragility were followed up by a panel, as The Telegraph’s Ambrose Evans-Pritchard reports, that poured cold water on the claims that the European crisis is over. Harvard professor Kenneth Rogoff said the launch of the euro had been a “giant historic mistake, done to soon” but EMU leaders are still refusing to take the necessary steps, and is squandering the “scarce resource” of its youth, badly needed to fortify an aging society as the demographic crunch sets in. But it is ex-Buba head Axel Weber that unleashed the ugly truth: “Markets are currently disregarding risks, particularly in the periphery…Europe is under threat. I am still really concerned.”
Closer to home John Ward of TheSlog who has a habit of being right reports.
THE EU IN-OUT DEBATE: Shock report from the EC that Cameron & Clegg hope you don’t readE
Dave goes for the UKip vote, shoots self in head 47 times
The Quarter 4 European Economic and Financial Report is out, and it might as well have been headed “Vote UKip”.
New Italian bank credit losses of €42 billion
I’d imagine that Dave and Nick are jolly glad about all these positive UK economic statistics to distract everyone’s attention from other small matters like the entire BBC being fitted up while kids continue to be buggered up and down the land. And I bet they heaved a particular sigh of relief when the EUnatics’ Q4 2013 Outlook report came out and slid gently into the middle pages of wonk magazines. So I’m delighted to deliver the gist of this document to a wider audience now. Your job Audience, should you choose to accept it, is to get it seen by everyone from Farage to Gove and all points inbetween with a swarm of viral tweeting, texting and reblogging the likes of which have never been seen before.
Even the Director General of this bit of the EC Signor Bacon Butti struggled to make the document seem upbeat in his foreword:
I particularly liked “since the start of the recovery in spring 2013″ – the data supporting which were Italian, and three months later proved to be absolutely false. But going through the rest of the report (which clearly, Signor Butti didn’t write) those further down the food chain get to give their somewhat more straightforward version of reality:
Oh dear. Weak pre-crisis trends. Structural decline. Euro governments won’t react. Forecast to continue. Not only did Signor Butti not write this stuff, he almost certainly didn’t even read it. And it gets worse at the final stroke:
Blimey. Er, right-ho. Hmm. And let’s see George Osborne, your proposal is that we heavy-hitting Brits endowed with so much influence wade in their and persuade the other 26 to sort themselves out, right? Well Nobsore, looks to me like the batsman’s Holding the bowler’s Willy re this one.
Stil, nihil desperandum there in the Yes-Camp, the ClubMed debt bonds are turning round a treat, why – I read only the other day that everyone from Abe to ZZTopp is piling in there. Although on the other hand, maybe they have other reasons. In the light of this though, they might not stick around:
‘…Italian banks will need to set aside as much as 42 billion euros ($57 billion) in new provisions for credit losses by the end of 2014 and some may have to raise additional capital, rating agency Standard & Poor’s said on Tuesday.
Source: http://www.oneworldchronicle.com/?p=19157
