Posts Tagged ‘ EU ’

Do the math


It seems the ALP isn’t much chop at it.

Riddle me this. With any budget surplus and carbon tax compo set to be tied to a hopeful EU carbon (dioxide) price of around $29 a ton, how’s it all going to work when it’s less than $5 a ton?

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Ten days to save the Eurozone?


Or make that eight days since Wolfgang Munchau’s column over at the financial times (had the page up before but now it’s behind a paywall so here’s a Hot Air link) was written on the 27th.

Who knows but really when it will actually happen? Or if. You read comments on these financial articles and everybody seems to have an opinion on when or if the Euro will collapse and/or how to fix it.

And as for that 10 days stuff, we were told 10 days back in October, and even as far back as June.

All I know is that if it does collapse, the Gillard government will blame Tony Abbott and use it as an excuse for yet another billion-dollar budget blowout.

UPDATE (via JM)

What? Socialists rioting because they’ve run out of other people’s money?

As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible.

Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the debt crisis.

The Treasury confirmed earlier this month that contingency planning for a collapse is now under way.

A senior minister has now revealed the extent of the Government’s concern, saying that Britain is now planning on the basis that a euro collapse is now just a matter of time.

And…

Europe’s monetary union may unravel sooner than the region’s leaders can mobilize to ensure the sovereign-debt crisis doesn’t overwhelm the currency, a UBS AG (UBSN) foreign exchange strategist wrote.

“Financial markets continue to move faster than politicians,” Mansoor Mohi-uddin, head of foreign exchange strategy for UBS, wrote in today’s note. Markets are starting to “price in the endgame” for the currency, he said.

Sticking up for QANTAS (and our economy)


And warning about the dangerous amount of borrowing our government is doing at a time when Europe is on the edge of the abyss.

Future Fund chief, David Murray (who probably knows a thing or two about money and what’s good for Australia’s future):

THE Future Fund chief, David Murray, has backed Qantas in the dispute with its workforce, saying unless companies like the airline tackle entrenched union privilege Australia risks the same fate as Europe.

And he says the government is aping Europe by borrowing to buy votes.

At least – apparently – QANTAS won’t have to deal with anymore strikes for up to four years.

With Gillard borrowing around two billion dollars a week – yes, a week – how much will that be in four years?

Currently it stands at about $215 billion.

 

Why is that nutjob even given an international platform?


Yes, we’re talking about Iranian president Ahmadinijad. On and on he rambled for 20 minutes about holocaust denial, 9/11 and GFC conspiracy theories, how evil Israel and the US is, and that he’s just a peace loving freedom fighter.

What a joke.

Good on first the US, and then many EU nations walking out on him.

Better still, the US should walk out on the UN all together. They pay most of its fees, and what do they get in return? Garbage like that and the ICLEI, an international body of green warmist zealots, sticking their subsidised fingers into hundreds of local governments.

The UN is a subversion to democracy.

Greece cedes sovereignty


Not all of it, but a giant whack of it, to the EU.

(Reuters) – Euro zone finance ministers have approved a 12 billion euro ($17.4 billion) installment of Greece’s bailout, but signaled that the nation must expect significant losses of sovereignty and jobs.

Ministers in the Eurogroup gave the go-ahead for the fifth tranche of Greece’s 110-billion-euro financial rescue agreed last year, and said details of a second aid package for Athens would be finalized by mid-September.

But within hours of Saturday’s decision, Eurogroup chairman Jean-Claude Juncker warned Greeks that help from the EU and International Monetary Fund would have unpleasant consequences.

The sovereignty of Greece will be massively limited,” he told Germany’s Focus magazine in the interview released on Sunday, adding that teams of experts from around the euro zone would be heading to Athens.

Those decades of Greek progressive politics appear to be progressing quite well.

Good-bye for now, Greece. Maybe one day in the future, you’ll wake up and realise/remember socialist/progressive politics doesn’t work.

The silver lining is that a lot of unnecessarily state-owned assests will have to be privatised.

AGW: EU and US drifting apart


Via NRO:

On the one hand, you have the EU wanting to covert chunks of land equating to the size of Ireland for bio-fuel farms (never mind the extra CO2 and hungry people). On the other hand, Al Gore’s carbon exchange has died.

Europe wants to ride bikes, the US wants to drill. The US just isn’t buying the Green power line.

Europe might know they’re stuffed, and it seems they’re waking up to the fact that America doesn’t want to go down their path, as was clearly demonstrated quite recently.

The EU and environmental NGOs: a vicious cycle


Basically, it goes like this. The EU pays environmental NGOs large swathes of taxpayer cash. In turn, the environmental NGOs, using that cash, lobby the EU for more vast swathes of taxpayer cash.

Nothing dodgy there, right? Here’s today’s top 10 list.

*with thanks to Steve over at Bolt’s



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