Draghi Says Continent's Social Model Is 'Gone'

Draghi Says Continent’s Social Model Is ‘Gone,’ Won’t Backtrack on Austerity -> online.wsj.com/article/SB1000142 … 96782.html

Interesting article - basically tells the peripheral Europeans to adopt the UK social model.

At what point does Draghi offer a tradeoff in the form of inflation ?

That would require a Thatcherite ‘revolution’ in each of those countries, Ireland included.

Interesting times.

actually, all we would have to do here is rewind to Berties 1997 - 2002 government. That was actually pretty Thatcherite.

Because it is so sucessful? :nin

We’re getting close to crux of the matter here. Ireland, anglo, house price increases of 25% per annum, securitisation, covered bonds, Greece, Portugal, ‘48 hours to save the euro!’ etc etc. It’s all been a prelude to the inconvenient truth. How do the masses in middle Europe pay for ever increasing standards of expensive social services, and in particular how can they retire at 60?

Draghi is just setting the scene for the slow learners.


But at least the Brits don’t cost the Germans money…

I take it thats a joke, right?