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Nigel Farage: The Genius of Mutual Indebtedness

Nigel Farage isn’t impressed by the Spanish bailout. His discourse about the madness of Italy’s contributing to Spain’s bailout is spot on of course. Take a look.

P.S. – I love his closing line: “This ship, the Euro Titanic, has now hit the iceberg and sadly there simply aren’t enough life boats.

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.

2 Comments

  1. Dave Holden says:

    “Dear old Herman Van Rompuy, well he’s done a runner hasn’t he..” LoL.

  2. David_Lazarus says:

    His comment about Italy borrowing at 7% to allow Spain to borrow at 3% does show the failure of the system. Spain’s potential losses could be as much as €400 billion but even higher if driven out of the eurozone.