September 29, 2011

When 500m people say NO, the EU had better listen

PJC Journal – IanPJ on Politics

Earlier this week we heard the views of the market trader Alessio Rastani. The Euro is going down.

Today we hear from Hungarian economist and Global Head of Global Securities Services at UniCredit Group in Milan, Szalay-Berzeviczy:
  • “the euro is “practically dead” and Europe faces a financial earthquake from a Greek default”…
  • “The euro is beyond rescue”…
  • “The only remaining question is how many days the hopeless rearguard action of European governments and the European Central Bank can keep up Greece’s spirits.”
  • “A Greek default will trigger an immediate “magnitude 10” earthquake across Europe.”
  • “Holders of Greek government bonds will have to write off their entire investment, the southern European nation will stop paying salaries and pensions and automated teller machines in the country will empty within minutes.”
Much more where that came from here

The peoples of the EU have been saying no for a long time now. When they have had a rare opportunity to vote on matters EU they have always voted NO.

When the English voted on Regional Assemblies, they said NO.

When in 2005 the peoples of France and Holland were given the vote over the EU constitution, they overwhelmingly said NO.

When Ireland voted on the re-framed Lisbon Treaty, they said NO, but you wouldn’t accept that and made them vote again in a rigged ballot to get the answer you wanted.

The EU should now open its windows and it will hear 500m people screaming at them and their national politicians, NO MORE integration, NO to EU Economic Union, its time to end the EU.

Barosso, it's over. Pack your bags and go home, stop wasting our time and money, and take that unelected Belgian Van Rompuy with you.
Get yourself a cheap as chips website and blog, and tell Barosso and his chums yourself.

The impact of a Greek default may “rapidly” spread across the continent, possibly prompting a run on the “weaker” banks of “weaker” countries, he said.

“The panic escalating this way may sweep across Europe in a self-fulfilling fashion, leading to the breakup of the euro area,” Szalay-Berzeviczy added.

Szalay-Berzeviczy has just arrived in Hungary from a trip abroad and can’t be reached until later today, a UniCredit official, who asked not to be identified because she isn’t authorized to speak to the press, said when Bloomberg called Szalay-Berzeviczy’s Budapest office to seek further comment.

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