They’ve awarded the EU the Nobel Peace Prize! Ambrose Evans-Pritchard:
You couldn’t make it up.
News that the European Union has won the Nobel Peace Prize this morning comes as we learn that Europe’s attempt to break the power of nation states through currency union has pushed Greek unemployment to a record 25.1pc – just ahead of Spain – with far worse yet to come.
It comes as EMU’s North-South split turns more acrimonious by the day, with the creditor bloc and debtor bloc (to use a very crude description that does not capture what is really a story of currency misalignment) eyeing each other with increasing hatred.
It comes days after Chancellor Angela Merkel was greeted in Athens by enraged crowds, some giving Hitler salutes, others protesting that Greece has become a “slave colony of the European Union”.
The Greek state had to deploy 7,000 police and impose a partial lockdown of Athens to keep her safe. The Frankfurter Allgemeine said Konrad Adenauer enjoyed a friendlier welcome in 1954 – as he deserved – less than a decade after Wehrmacht occupation (and 300,000 deaths).
It comes as the vice-president of the Spanish parliament calls for deployment of the Guardia Civil to crush Catalan separatists. And while the Catalan dispute obviously predates the EMU crisis, it has erupted now precisely because the EMU system has driven Spain into crippling depression.
It comes after the EMU’s policy structure – having first stoked credit booms in a string of countries – has swung to the other extreme of maniacal contraction that is pushing the eurozone into a deepening double-dip slump.
Nigel Farage via Zero Hedge:
“You only have to open your eyes to see the increasing violence and division within the EU which is caused by the Euro project” he said.
“Spain is on the verge of a bail-out, with senior military figures warning that the Army may have to intervene in Catalonia. In Greece people are starving and abandoning their children through desperate poverty and never a week goes by that we don’t see riots and protests in capital cities against the troika and the economic prison they have imposed.
“The next stage is to abandon the Nation state: the awarding of this prize to the EU brings it into disrepute.”
Mr Farage added, “The last attempt in Europe to impose a new flag, currency and nationality on separate states was called Yugoslavia. The EU is repeating the same tragic mistake.”
“Rather than bring peace and harmony, the EU will cause insurgency and violence.”
But then, the IPCC and Al Gore were awarded the same prize in 2007, just when climate scepticism was starting to take off.
My grieving pollster has mailed me a whole bunch of completed ISIS questionnaires. He’s got more, but he doesn’t know where. But I’m very glad of the ones he’s sent.
I had my teeth scaled and polished today. After peering into my mouth, the hygienist said, “You’re a smoker, aren’t you?” And I said yes.
“You do know, don’t you, that I’m going to tell you that you should stop smoking?”
“And you do know, don’t you,” I replied, “that I’m going to pay no attention to you at all?”
After that, we got along swimmingly.
She said I had a couple of gold crowns. And that, in Britain, the police can’t arrest you for vagrancy if you’ve got any gold teeth. It’s an old law which has never been repealed, it seems. Sort of one law for the rich, and one for the poor.
I don’t really have any gold teeth. They’re just gold-plated. But the police won’t know that when they find me lying drunk in a gutter, will they?