Europe Is Only Delaying The Inevitable Euro Collapse

Germany's Chancellor Angela Merkel (left) and European Commission President Jose Manuel Barroso. The banking risks of the European periphery are being progressively foisted onto the taxpayers of the more solvent core Photo: REUTERS

Euroland Will Pay For This Monetary Madness -- Jeremy Warner, The Telegraph

The flood of cheap money from the European Central Bank is storing up grave trouble for the future.

When something looks dangerous, it generally is. And few things look quite so high-wire right now as the European Central Bank’s efforts to hold the euro together by flooding the banking system with free money.

This week, the ECB injected a further 529.5 billion euros via “long-term refinancing operations”, or LTROs, bringing the tally to more than 1 trillion euros.

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My Comment: In situations like this, I always like to remember the following Ray Bradbury saying .... The gargoyles have taken over the cathedral.

Indeed.

As for Europe today .... and what to expect .... Jeremy Warner's last paragraph sums it up perfectly ....

.... Europe has no strategy for growth, no strategy for jobs, and in truth, no strategy for saving the euro. The project is broken beyond repair.