Friday, December 09, 2011

Euro Crisis

The "Daily Mail" and the "Telegraph" both have reasonable articles about the Euro crisis today, referenced on my blog.

Briefly, officials have noted that because the new pact will be outside binding EU treaties, sanctions against future fiscal offenders will be based on a “political declaration of intent". These will have no legally binding character and could be revoked following the election of a new government.

IMO: It is a wine lake on stilts. Such a lake is impractical and will overbalance to the amusement of others.

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