Laurent Fabius – French Idiot

The EU has failed to come up with any solution to the crisis yet again. The Germans seem happy to go down in history as the volks who pushed Europe into a re-run of the 1930s (I still think they will blink before midnight) and everyone else is in denial. But prize idiot of the day award goes to French Foreign Minister Laurent Fabius who is demanding that America sort this out (i.e. US taxpayers ignore their own gravity defying National debt/deficit and write a mega cheque) because:

“The crisis did not start in Europe. Lehman Brothers was not a European bank. We should not shift responsibility.”

Aha so the problems of Europe are nothing to do with Greeks, Spaniards, the French and Italians taking a Lagardesque view of paying tax; with countries with mega debt/deficits cooking their books to get into a fundamentally flawed single currency; with banks across Europe lending far too much to far too many risky covenants; with the ECB pushing up base rates as much of Southern Europe wet into recession simply to appease the Germans. Nope. Je suis un imbecile. The current crisis is clearly entirely down to the failure of one US investment bank much of whose operations were in Europe. Uncle Sam get out your chequebook.

With men like Fabius in charge no wonder Europe is doing so well.