Spygun Snapshots for 16 May, 2012
2:37 pm Today, Bank of England Governor , Mervyn King stuck to his nautical metaphors "We are in turbulent waters with the threat of a storm coming towards us." At least today's weather forecast is marginally better than his "There could be a "tsunami" of repossessions if interest rates were to rise." Phew! Meanwhile, David "LOL" Cameron continues with his high-tech gobbledygook: "If the eurozone wants to continue as it is, then it has got to build a proper firewall, it has got to take steps to secure the weakest members of the eurozone, or it's going to have to work out it has to go in a different direction. It either has to make up or it is looking at a potential break up." Does he not realise that a "firewall" is designed to keep bad things OUT? Christine Lagarde started the firewall nonsense. She meant a shed-load of money - real and imaginary which would act as an emergency bailout fund.But "FIREWALL" ???