The technocrats have taken over in Greece and Italy on instructions from Ms Merkel and Mr Sarkozy who in turn take their orders from the markets.
Spain has now followed with electing a right wing coalition government but at least they had an election. It remains to be seen whether the markers reward the new Spanish government by lowering the interest rates at which Spain borrows. It makes no sense to increase the interest rate a state pays to borrow when the 'markets' know that they can't pay? Every 1% of an increase represents the a huge rise in the total amount borrowed or in real terms it means 10 fewer hospitals and more than 50 new schools being build. This is a ridiculous situation and totally unacceptable. The question of sovereignty is under threat again! Regulate the markets or vote any stupid politician out who comes and tells you that his hands are tight because the markets say so. Beggar the markets!
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