Enough is Enough

Future Perfect? Ambrose Evans-Pritchard (AE-P. Daily Telegraph 21/03/2019) has helpfully gathered together critical views on the Brexit negotiations and the proposed Withdrawal Agreement from some German commentators. To show that this blog is not alone in arguing that the future of the EU is, to say the least, uncertain, we copy some of these views … More Enough is Enough

Die Another Day?

There are many factors that could destroy the European Union – which we described in our review of Ian Kearns’ book ‘Collapse: Europe after the European Union‘ [Collapse: Europe After the European Union – Parts 1&2] – but here we will summarise the most immediate problem: debt. If a state is bankrupt its bonds aren’t … More Die Another Day?

TLTRO Rugby

No, not ‘Total Rugby’ (a forum for debating Ruby League). As we write this Italy is about to face England in a 2019 Rugby Six Nations match; England is famous this season for its mostly-successful tactic of putting boot to ball and kicking the odd-shaped object in the expectation of quickly winning it back. Similarly … More TLTRO Rugby

Money, Money, Money

Funny Money There’s plenty of funny money in ‘wealthy’ Germany but it won’t be so funny when taxpayers and savers find out just how much of it is in worthless Target2 ‘accounting units’ that will never be settled. That’s half-a-trillion Euros-worth owed by Italy alone, with Germany owed double that in total (Netherlands, Finland and … More Money, Money, Money

Shorties-22

Fiat Money ‘Fiat money’ is not what Italians might call their national currency if Italy ever leaves the eurozone (EZ). ‘Fiat’ derives from the Latin verb facere,“to make or become”; ‘fiat money’ is not tied to a commodity like gold or silver but it can be used to buy stuff, provided the issuer is trusted.* … More Shorties-22

The Death of the Euro

Our trilogy on the euro currency is now in four parts (like Douglas Adams’ Hitchhiker’s Guide to the Galaxy) because we had to break off to discuss the Draft Withdrawal Agreement and other political developments. The previous parts dealt with the past, the present and the parallels with other monetary unions [1], we now turn … More The Death of the Euro

Snippets-2

Since when? Since the Great Reform Act of 1832 Parliament has fiddled with the franchise, extending it to more men, then even more men, then all men and some women, then all women, and finally in 1969 to 18-year-old men and women. In less than 150 years any ignorant riff-raff can now vote and Parliament … More Snippets-2