Whether William Hague is on the run, has the runs (in a verbal sense) or is provoking a run on the banks, I know not - but this post on Conservative Home does suggest his marbles are starting to escape.
In what can only be an attempt to make a case for yet more bail-out money to be provided to the eurozone, Willie (don't forget in the immortal words of the Maggietollah every government needs a Willie, unfortunately Cameron's one appears to be pissing through the wrong organ) is now playing the 'propoganda card' with his statement that the jobs and life savings of tens of millions of people in Europe may be at stake unless there is further economic and fiscal integration within the eurozone . Whilst Hague may be correct in stating that foreign banks may seize up or go broke, at the same time he wasn't saying that applied to British Banks even though they will not be immune to events on the continent.
Unfortunately Hague is intimating that British Banks may well have a problem in the coming days and the obvious conclusion is that that is how other people may see it - consequently their natural reaction will be to withdraw what savings they have from banks and building societies.
Just what the British economy needs (not) I would have thought.
Just saying...........
2 comments:
Hague is clueless. The problem is fear of 1931 and the Labour party caused Brown to fund BANKS in 2007 but Europe did not.....so we are left in 2011 with major European banks facing up to insolvency and finding that what Brown did simply delayed the day of reckoning for British banks with loans extended to France, Spain, Italy
Basically, the whole policy since 2010 is as off-base as Brown's was. The whole country is going into the blender and Inflation is about to get back to 1970s levels
TT: Agree
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