EU politicians fall short, again

I do not think there is day when I do not find proof that politicians everywhere are the same and not from this planet.  Faced with important decisions they revert to a simpleton thinking and put on their political goggles. Those must be some crazy goggles because through them the world looks totally different than for you and me.

We received proof of this throughout the entire European crisis, more after the downgrade of US and then yesterday in Europe.  I think after all these episodes it is safe to say that faced with important decisions politicians have only two solutions: blame the other, if possible private sector, and restrict the markets. Immediately after the US downgrade by S&P the immediate reaction was demonize and discredit the rating agencies. While faced with the warning from markets that things are not in place with current debt levels, banking sector and recovery via selling of bonds and shares, politicians responded by banning once again short selling (sell at a future date shares you do not have in the hope the price will fall.)

Here is a good reaction and the press release about the latest short selling in Spain, Italy, France and Belgium (???).


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