Blair and Destiny

Charlatan Blair is clearly missing the limelight. He is now publicly demanding that Germany stand by the euro. The man who preferred headlines to action save when it meant killing people based on non-existent evidence; the man who was too scared to remove Brown and allowed the Country's economy to be ruined; the man who wanted the UK to be subsumed into an EU state; the man who wanted England to be deleted from history and replaced by regions; the man who has gained unexplained millions from the first moment he left office; the man who employed that monster Alistair Campbell; the man who felt destiny resting on his left shoulder; the man who now feels he has something to say of such importance that all will applaud his wisdom and without question do his bidding. Blair's utterance is an embarrassment. If he had any sense he would stay quietly hidden away since unlike John Major history is not going to treat him kindly. What does it mean that Germany should stand by the euro? Does it mean that Germany should ignore its constitution? Does it mean that Germany should impoverish itself to help the Greeks, the Portuguese, the Irish, the Spanish, the Italians, the Cypriots and ultimately the French? Even if it is true, as I believe, that Germany has taken advantage of the lower euro exchange rate to the detriment of the PIIGS it has made some recompense already for so doing by providing the largest share of the bail out funds. If the Telegraph is to be believed Germany is considering going further by changing its mind about a European Redemption Pact and endorsing it after all. The Redemption Pact would cover all euro members government debt above 60% of GDP. Will the Redemption Pact be adopted? If so will it be adopted in time before the euro explodes and if so will it have the desired effect? Spain's bond yields are today hovering around 7% and Italy's have risen from 3.9% a month ago to 5.3% today. Having made his momentous demand Blair was in Hong Kong today making a speech to do with his Faith Foundation. Apparently he was heckled but threatened the heckler into submission. He must have a powerful faith - after all he is a man who walks with destiny.