The G20 summit at Cannes (3-4 Nov) is over and all we hear are hand wringing, wailing and whining that the World Leaders (read emerging economies) didn’t do anything (read didn’t throw billion dollars each) to avoid Euro zone economic crisis (read going broke).
A cursory look at the opinions on the summit -
Now, just why should China or anyone else for that matter shell out their hard earned money to save Greeks (and now Italians with the Spaniards gearing upu), who have been borrowing like there was no tomorrow and spending it like it was yesterday?
When India had a somewhat similar (but not quite the same) problem two decades back, (almost to the date), we airlifted 67 Tons of Gold to UK and Switzerland as a collateral to a loan of $2.2 billion from IMF. On top conditions were imposed by the IMF to ‘free-up’ the economy and people did suffer.
Admittedly Greece (or Italy or Spain) doesn’t have that much of Gold (or any other) reserves and Germany which does (not Gold but SDRs) is reluctant to hock it in lieu.
So why should China (or India, Brazil, Saudi Arabia or anyone else) throw our hard earned and squirreled away billions for buggers who enjoy bunga-bunga parties? Let them go broke and starve.
Time for all of us Indians to thank the stars that Montek Singh Ahluwalia was *not* elected as the chief of IMF as I wished back in May. By God! If that megalomaniac had been the Chef now, for sure he would have dragged the intellectual-idiot of a Prime Minister Manmohan Singh to offer a few billion dollars to save his own face.
[Why megalomaniac? Because, only a megalomaniac can affirm that any Indian spending more than 50 cents a day is not poor and then face the public with a shit-eating-grin without shame.
Why intellectual-idiot? Because, megalomaniacs can preach only to such intellectual-idiots without getting their arse handed over]
To think that the Italians and Spaniards are at the forefront in throwing spanners into the Expansion of UN Security Council because of their ego against Germany! That explains why Germany is not willing to put out too much to bail the freeloaders out.
>:->
Italian Beggar - engraving by Callot
A cursory look at the opinions on the summit -
- produced little but rain - Washington Post,
- a lesson in disunity, also a failure and world leaders are frustrating - The Guardian,
- ends in disarray - Sydney Morning Herald,
- disappointing - Daily Telegraph,
- developing nations want more focus - AP,
- leaders waste time - CNN,
Now, just why should China or anyone else for that matter shell out their hard earned money to save Greeks (and now Italians with the Spaniards gearing upu), who have been borrowing like there was no tomorrow and spending it like it was yesterday?
When India had a somewhat similar (but not quite the same) problem two decades back, (almost to the date), we airlifted 67 Tons of Gold to UK and Switzerland as a collateral to a loan of $2.2 billion from IMF. On top conditions were imposed by the IMF to ‘free-up’ the economy and people did suffer.
Admittedly Greece (or Italy or Spain) doesn’t have that much of Gold (or any other) reserves and Germany which does (not Gold but SDRs) is reluctant to hock it in lieu.
So why should China (or India, Brazil, Saudi Arabia or anyone else) throw our hard earned and squirreled away billions for buggers who enjoy bunga-bunga parties? Let them go broke and starve.
Time for all of us Indians to thank the stars that Montek Singh Ahluwalia was *not* elected as the chief of IMF as I wished back in May. By God! If that megalomaniac had been the Chef now, for sure he would have dragged the intellectual-idiot of a Prime Minister Manmohan Singh to offer a few billion dollars to save his own face.
[Why megalomaniac? Because, only a megalomaniac can affirm that any Indian spending more than 50 cents a day is not poor and then face the public with a shit-eating-grin without shame.
Why intellectual-idiot? Because, megalomaniacs can preach only to such intellectual-idiots without getting their arse handed over]
To think that the Italians and Spaniards are at the forefront in throwing spanners into the Expansion of UN Security Council because of their ego against Germany! That explains why Germany is not willing to put out too much to bail the freeloaders out.
>:->
Italian Beggar - engraving by Callot
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