Friday 25 November 2011

"Awful Auction"

From the Financial Times:
Bond yields on short-term Italian debt rose above 8 per cent on Friday as Rome was forced to pay euro-era high interest rates in what analysts called an “awful” auction.

Italy raised its targeted €10bn in an auction of two-year bonds and six-month bills but at sharply higher yields.

“Rates have skyrocketed. It’s simply not sustainable in the long run,” said Marc Ostwald, strategist at Monument Securities in London.
It's all falling apart, but those that advocated this stupid, ridiculous and unworkable currency will get away scot free; it's the rest of us that will suffer the consequences when it all goes wrong.

1 comment:

  1. If the EZ, if it does go tits up [and I hope it does], will the EU implode? I want the EU off our/my back!
    I want town and city councils to refer to their local electorate not to Brussels.


    I am fed up to the back teeth of BEING FORCE FED THE MYTH OF AGW, renewable energy madness, feed in tariffs and lecky bills/gas going through the roof [for FA].
    I want my country back, I DON'T WANT THE COUNTRY BECOMING AN ISLAMIC REPUBLIC AND don't tell me that when the EZ goes, that the EU will still be in place.....the VERY CONSIDERABLE ECONOMIC PAIN OF THE COLLAPSE MUST ENSURE THAT THIS MEANS THE F888ING END OF THE BRUSSELS MAFIA AND THE COLLABORATING BRITISH EU STASI.

    And if the EU charade continues?

    Then, out of the financial woes and economic chaos and thereof the induced personal disaster and wreckage of millions of British livelihoods, there will be trouble and civil strife.

    We cannot or will not be able to pay for the freeloaders, the inanities of mad policy, and state charity to the EU and the world and for the non job Statist super state any longer - economic and governmental sanity must be returned, it starts with a small state and no EU.

    Bring it on.

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