Eurozone Chumpions Knockout Cup
Italy 1 Frankmany 0
From the safety of Japan, Italian Prime Minister Mario Monti yesterday told the media there that because the eurozone’s two largest players –Germany and France – broke all the fiscal rules from Day One, other countries in the currency area simply took their lead from that behaviour.
“The story goes back to 2003 (and) the still almost infant life of the euro, when Germany and France were too flexible concerning public deficits and debts,” said the leading member of the Goldman Troika, “Of course if the father and mother of the eurozone are violating the rules, you could not expect Greece to be compliant,” he added. Or, er, indeed Italy, Mario.
Having established that two wrongs make a right in this outspoken manner, Signor Monti added that he does not have any relatives in Germany. One does wonder, however, given his mission out there – to raise money for the EU’s long-term bailout fund the ESM – WTF he thought he was playing at saying such a thing.
Perhaps he was annoyed that Berlin recently designated the ClubMed countries Untermenschen who may not visit Germany. On the other hand, ClubMeds themselves are very confident that Germany will soon be visiting them…whether they like it or not.
It’s a shambles, Downing Street. Let’s get out now.