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The most recent ECB dataset on lending rates to small and medium enterprises shows that a German company seeking a loan of €1m for between one and five years might typically pay 3.8 per cent – a record low – while a Spanish company would pay 6.6 per cent, the highest since late 2008 when central banks cut rates after Lehman Brothers collapsed.
These rates are increasing and the spread gets ever wider within the eurozone. So as Spanish business costs rise steadily it become a vicious circle and ultimately a downward spiral.
It also begs a question of how on earth Spanish companies can compete in the market place when their costs are greater than Germany and the remainder of industrialised Europe.
‘Returning to growth of 2 per cent in the eurozone would be hard to see happening in the next decade,’ according to a former ECB economists, with 1 per cent in prospect only after a period of contraction and stagnation.
The conclusion from every stand point is the Eurozone experiment has failed disastrously. Yet no one talks of exit, not even Greece and least of all Spain.
Now the EU is awarded the Nobel Prize for Peace. http://www.telegraph.co.uk/news/worldnews/europe/eu/9603745/EU-awarded-Nobel-Peace-Prize.html 😯
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It was America that secured the peace for Europe in 1945 after defeating Germany and reaching a stand off with Soviet Russia. The cold war was in fact a peace process albeit hard on they who had to endure the hardships behind Churchill’s ‘Iron Curtain’.
It was Reaganomics which defeated the Soviet domination of eastern Europe. The USA bankrupted them by increasing the arms race.
It was Gorbachev the last Soviet President who secured a peaceful democratic change in eastern Europe and rid them of their dictators.
Pray what has the EU done to deserve a peace prize? About as much as Obama did to earn his award four years ago.
The Nobel Committee has totally lost the plot. Even that Australian rapist plonker named Julian Assange was nominated for this prize. Perhaps if he had won it the world would realise what a farcical process it really is.
They even gave it to Henry Kissinger in 1973 when he was bombing and destroying innocent Cambodians. This announcement today should be seen with the equal contempt it deserves.
Prey what has the EU done to secure world peace? I would really like to know.
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OK Peter not rape, just ‘sexual offences’. The lack of consent to sex in Sweden is actually classed as rape but I won’t split hairs with you.
This whole Nobel Peace Prize thing has descended into a farcical political game of supporting lost causes. If you look at some of the past recipients you may see what I mean. Not all but many. History is not kind to them and it’s almost as if the Nobel committee understand that and seek to give them a lift.
http://www.nobelprize.org/nobel_prizes/peace/laureates/
They have excelled themselves this time in giving the award to the EU. The greatest of all modern lost causes.
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Trust me the rape charge is a joke. Only a way to quiet him down and give the two politicians that “screamed” rape a boost in their careers. At least that’s why I expect that the two thought.. .it backfired quite a lot though. I read the police report and it all boils down to that the two women “one politician and the other one sort of too” wanted him to be checked for STDs because either the condom broke or that it was never used in the first place. Nothing was forced. They went to the police and asked them if they could force him to take a test and then the police/prosecuter chose to go forward with it. Probably with lots of preassure from the US.
One of the women actually removed her blogg entries where she directly “day after and a few days afterwards” after the “rape” because it clearly showed her being in a good and stable condition. Joking about lots of things etc.
A couple of decades ago you could trust Sweden “Palme whom I don’t agree with on lots of things” in that we would never send him to the US but these days we are as bad as the rest when it comes to kissing up to the people in charge over there.
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