Monthly Archives: December 2010

  The Euro crisis is especially worrying given the state of the European banking system. In practice the EU member states stand behind their major banks. State finance and bank finance is almost one and the same thing. Problems in banks require state support, as recently seen in Ireland. The more the member states put [...]

                      The EU officials who are planning how to save the Euro are following a kind of economic sado-masochism as their  strategy. They can enjoy watching member states struggle as they pile on the controls and requirements for them to cut spending and raise taxes.  They themselves put up their own budgets and salaries [...]