Except that I dislike the anglo-bias that is really anti-european in nature. This is an EU initiative and should be described as such. keep to the Fen Causeway
...has focused attention on Washington's vacuum of leadership and ideas. Aghast at the dithering incompetence of the US in handling this crisis, European politicians have realised that Henry Paulson, the supposedly brilliant US Treasury Secretary, was an emperor with no clothes.
There are not 2 choices: "create stability or trigger a further rout" - this could be a lingering hemorrhage, a calm before the next thousand cuts appear, or many other variations.
"... there can be reasonable confidence about the package's economic impact -- it will avert a catastrophic economic collapse or long-term depression." - or it can merely forestall or assuage said collapse or depression...or, more likely, the package will make it easier for the rich to collect on their hitherto collapsed investments, so that they can tinkle down on us some more.
"The sole exception to this rule {economic leadership comes from the US} in the past 30 years was the creation of the euro..." - Yes, I remember Brazil, Argentina and Venezuela asking US permission to form their banking Union just the other day.
Nope. Just because they are now brave enough to snipe at their erstwhile benefactor, it doesn't mean that they have a grip on the truth. Never underestimate their intelligence, always underestimate their knowledge.
Frank Delaney ~ Ireland
