New rules for Nations in Hock
~ Arch of Triumphal Smugness ~
Rather good edition of the FT's Outside Edge, finding Alan Beattie en forme. Any country whose bankruptcy is likely to take down its neighbours is to be broken up. No country is allowed to do both financial services and manufacturing. All countries are to post collateral against issuing sovereign debt. Hence the UK (or, actually, either the newly created Tower Hamlets Anarcho-Syndicalist Collective or the Queen’s Own Oligarchic Cabal of the City of London) has to take the crown jewels from the Tower of London and deposit them in Pimco’s vaults before being allowed to issue gilts. The International Monetary Fund to tax governments to fund their future bail-outs, except for goody-goody Canada, given dispensation to use the money to build an Arch of Triumphal Smugness in Toronto.
No comments :
Post a Comment