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Cyprus and Europe and all that….

No one can predict what will happen.

However by the Cypriot parliament’s rejection of the bail out package it would seem that they are on course for an exit from the Euro – unless they change that decision.

If they printed their own cash they could re-capitalise their economy, set their own interest rates and get their country back on its feet.

The same applies to Greece.

Iceland have done it and their economy is now well into recovery phase.

They couldn’t have done had they been in the Eurozone.

There is a real danger that if Cyprus is held prisoner by the Eurozone that banks and ATMs all over the continent could be closed as panic and contagion take hold.

And although the UK isn’t ‘in the zone’ (sic), it is so exposed to Eurozone debt that it could be drawn in.

However the fact that the UK has its own currency may turn out to be its saving grace.

There are options open to the UK which aren’t available to the ‘bloc’.

I take no pleasure in saying this, but the loons of UKIP may very soon become an electable party of government.

Head for the hills!

 

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One Response

  1. The good thing about ukip is they will split the Tory vote
    There is a downside though imagine them in coalition with the condemns

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