Monday, April 8, 2013

The Euro crisis: dropping shoes by a centipede.

One of the problems the West faces is a Press that tries to save Socialism by under reporting the crisis of Europe and the US.

In the spotlight today is Portugal - a country that is sinking deeper into recession. To make matters worse, the Portuguese Constitutional Court ruled some of the austerity measures unconstitutional. This essentially blows up the Portuguese budget and sets off the next crisis. The Slovenians just have to wait for the spotlight. Even Greece is back into the news with talks between creditors and the government. Cyprus is seething after the theft of part of the bank deposits (and we still do not know how much was stolen). The Dutch Finance Minister said that Cypress will now be a model and he had to backtrack for fear of bank runs. Greece, Italy and Spain are quiet, which means that the crisis is now in slow burn mode.

Back in the States, the latest unemployment figures were greeted with the usual surprise by the Media that claims that recovery is getting robust.

In Egypt, the Muslim Brotherhood continues the murder of Christians and N Korea threatens atomic war.

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