Saturday, December 10, 2011

Euro nuttiness

From Mish:
European leaders have agreed to collect 200 billion for the International Monetary Fund to rescue the euro area. For Poland is to fall more than 100 billion zł - says the "Polish daily Gazeta."

The amount is one third of all Polish budgetary expenditure or as much on health care or modernization of our military spending by more than a dozen years.

Quoted by the newspaper of Adam Smith Center President Robert Gwiazdowski believes that it is absurd to issue our money to rescue Italy or Greece, which in addition can not be saved.

Time to face the truth and let the bankrupts fail, so they can start to build their economies from new on firmer foundations.

I am laughing my ass off, WTF does the French entitlement minister thinking? Poles are going to fund the French welfare state?

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