Monday, October 4, 2010

MP Philip Davies: Euro Zone is Collapsing



Russia Today interviewed Conservative Party (Member of Parliament) Philip Davies and he didn't bite his tongue about the state of Euro Zone. He was asked how the Irish situation will affected the Euro Zone.

"Well, I think we're seeing the collapse of the Euro Zone. It goes to show that the system was flawed. You can't have countries with different economic circumstances all being forced into the same interest rates."

Bingo!

Part of the problem is that most of these countries are borrowing cash from other countries. They seem to have the same "spend more than you make" mentality as the United States. What surprised me about the interview was his willingness to talk about civil unrest. Last week, workers all across Europe marched in protest. That was only the prologue to the revolutions that will spark all across the world.

2 comments:

  1. Up with the Yen, Up with the dollar, forget the pound...

    ReplyDelete
  2. LOL. Ireland just got downgraded.

    ReplyDelete