I have just been told - via Channel 4 News - that Europe is at an epic crossroads and standing on the brink. It is a vivid picture, which is being used to try to persuade us of the seriousness of economic negotiations taking place today to [yet again] cobble together a deal to save Greece. It will, almost certainly, cost more than the last final deal and will create yet more friction in other countries - particularly Germany - who will have to pay for it. The trouble is that the deal will almost certainly not work and, in the end, Greece will default. A writer in Money Week said that these days economic policy making was all too often a matter of putting off problems until next year or the year after or even the year after that. And, of course, the debts get bigger and bigger.
We must hope that the solutions that the politicians come up with here will really tackle our own problems. Negotiations between Tories and Lib-Dems are still continuing and seem to be getting somewhere. But now, in the middle of this it seems that Labour are pressing the Lib-Dems to join them. If necessary they will dump Gordon Brown. This manoeuvre has all the hallmarks of Mandelson fiddling about to the last. Does he, or anyone else in the Labour Party believe that it is possible or acceptable to cobble together a new government with a tiny majority using the celtic parties and introducing another unelected prime minister? It is ludicrous.
Hopefully, by tomorrow morning we will see the makings of the Tory-Lib-Dem coalition.
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