Gorilla’s been away from the contagion for 4 weeks, and yet nothing at all has changed:
The Germans and French remain deeply unserious about solving the sovereign debt problem.
What’s needed is a simple statement: “The ECB will be the lender of last resort and will buy sovereign debt in unlimited amounts until an acceptable interest rate floor is achieved”.
Instead, we get more austerity nonsense, more puritans v. sinners, and the kind of stupidity only previously achieved at international level by various authoritarian states and the Know Nothing Party.
Gorilla says: “KozyMer’s a dozy mare!”
