The BBC has done everything possible to relegate focus on the ongoing meltdown of their beloved eurozone but they are quick out of the traps this morning to join in the faux celebration now that the “leaders” have come up with a brand new package that solves all fiscal problems. I was entertained by this interview with Sir John Gieve, former deputy governor of the Bank of England, as he considers whether changes to the European Financial Stability Facility (EFSF) will prevent further crises. Sir John, a mild mannered chap, had the temerity to suggest that this is a short term fix that may not solve the problems that afflict Greece et al. Sarah Montague instantly suggests he is being “negative” ensuring he instantly puts a more positive spin on the ludicrous antics of Merkel, Sarkozy and co. It is perfectly obvious that a Nation mired in debt will not recover from such debt be giving it even more debt and yet this is the big idea of the Eurocrats keep pushing and the BBC keeps propagandising.
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