Nigel Farage: The Genius of Mutual Indebtedness
Nigel Farage isn’t impressed by the Spanish bailout. His discourse about the madness of Italy’s contributing to Spain’s bailout is spot on of course. Take a look.
P.S. – I love his closing line: “This ship, the Euro Titanic, has now hit the iceberg and sadly there simply aren’t enough life boats.
“Dear old Herman Van Rompuy, well he’s done a runner hasn’t he..” LoL.
His comment about Italy borrowing at 7% to allow Spain to borrow at 3% does show the failure of the system. Spain’s potential losses could be as much as €400 billion but even higher if driven out of the eurozone.
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