Dave goes for the UKip vote, shoots self in head 47 times
The Quarter 4 European Economic and Financial Report is out, and it might as well have been headed “Vote UKip”.
I particularly liked “since the start of the recovery in spring 2013″ – the data supporting which were Italian, and three months later proved to be absolutely false. But going through the rest of the report (which clearly, Signor Butti didn’t write) those further down the food chain get to give their somewhat more straightforward version of reality:
Oh dear. Weak pre-crisis trends. Structural decline. Euro governments won’t react. Forecast to continue. Not only did Signor Butti not write this stuff, he almost certainly didn’t even read it. And it gets worse at the final stroke:
Blimey. Er, right-ho. Hmm. And let’s see George Osborne, your proposal is that we heavy-hitting Brits endowed with so much influence wade in their and persuade the other 26 to sort themselves out, right? Well Nobsore, looks to me like the batsman’s Holding the bowler’s Willy re this one.
Stil, nihil desperandum there in the Yes-Camp, the ClubMed debt bonds are turning round a treat, why – I read only the other day that everyone from Abe to ZZTopp is piling in there. Although on the other hand, maybe they have other reasons. In the light of this though, they might not stick around:
‘…Italian banks will need to set aside as much as 42 billion euros ($57 billion) in new provisions for credit losses by the end of 2014 and some may have to raise additional capital, rating agency Standard & Poor’s said on Tuesday.