The Money Markets
I’ve been thinking a lot lately. My husband hates when I do that. He says it always costs him money when I start a sentence with, ‘I’ve been thinking . . .’
For example, ‘I’ve been thinking that maybe we need new windows,’ or ‘I’ve been thinking maybe I need a new computer, or a new handbag, or new shoes.’ He says the list is endless once I start thinking.
But my recent thinking won’t cost him money in fact I’m hoping to save the whole of Europe money.
I’ve been thinking about The Money Markets.
I’m wondering if anyone in this vast ocean of web surfers can explain to me who exactly is behind The Money Markets. Who is the Mr, Mrs or Ms Money Market that keeps putting pressure on the little markets like Ireland and Greece and Portugal? Now originally when we joined the EU I thought that Irelandwas part of this one big European Market. And as I am Irish I was part of the market too along with Paddy and every other Irish person. I don’t think I was alone in thinking that way. Anyway I thought that Paddy the Irishman basically made up part of The Market and we were all piling our money into this one big fund. We gave away our fishing rights and our small farms etc and in return we got some new roads.
Then Greece got into financial difficulty. Someone had lent Greece too much money. The Markets reacted badly. Who is this collective known as The Markets? If someone is stupid enough to lend money to someone they know can’t repay it why should poor ordinary Pelayo the Greek have to pay. As Judge Judy says if you lend money to someone and you have little chance of repayment, then tough. It was stupid, you deserved to lose. She should know. She deals with stupidity every day of the week.
So then Ireland got into trouble and we were all forced to pay but I figured, hey why do I, and Paddy the Irishman and Pelayo the Greek have to pay? We never caused any problems. I’ve always paid my debts and bills on time. If someone, somewhere, in their large gambling Salon called The Markets put their chips on Greece andIreland and lost, why should I pay? I didn’t get the winnings when the days were good, why should I pay when the chips are down? Why should I take the hit in my little three bed suburban house? I didn’t cause the problem. I never even built an extension never mind a block of apartments.
Then Portugal got into trouble and as before I figured why should ordinary Filipe the Portuguese guy be stuck to pay back. Like me, I bet Filipe the Portuguese guy was never inside a stock exchange or a big Market gambling salon.
And then Italy and Spain got into trouble and I wondered, what will happen now? Pablo the Italian and Pedro the Spaniard are part of larger economies and suddenly they are in trouble just like Ireland and Greece andPortugal. I didn’t feel too bad. We were not alone. What’s another bailout between friends in the whole scheme of things? But suddenly there are bonds flying around Europe to keep Pedro and Pable from the embarrassment of a bailout. Why are bonds being issued instead of a Bailout for Italy and Spain? I don’t like to add another B word to the mix, but I hope little Ireland is not being Bullied around Europe.
So can anyone tell me who exactly makes up The Markets? I’m tired of listening to The Markets are putting on pressure, or The Markets are reacting badly, like a baby throwing its soother out of the pram in a tantrum. Can someone explain to me who The Markets are? I’m trying to save Europe here. So all you other little countries in Europe watch out. The Markets may be watching you.
Who will own Europe by the time all this finishes. Can anyone tell me? I’d really like to know.