Tuesday, January 10, 2012

Troika in town

The Troika are visiting Dublin today, checking the progress of the Irish government in taking the country back to pre-Celtic Tiger days.

How apt that a Russian word, echoing communism, should be used to describe the three-headed hydra of the EU, ECB and IMF. The solution to sovereign debt crises engulfing the eurozone is to offer a loan to pay off debts and socialise the repayments.

When did multinational agencies start behaving like the dodgy companies who advertise on the channels higher up the electronic programme guide?

Consolidate all your existing loans into one easily digestible austerity package!

The only difference between the Troika and these companies is the interest rate. Although 5% on €85bn is a bit more money-wise than 1759% on €500.

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