Anyone who has not been living under a rock can have missed the fact that the economy has gone a bits tits up lately. I think we can draw several lessons from what has been going on in recent months;
1 - If you deregulate the market greedy people will push the new rules to their limits.
2 - Sometimes even the most
freemarket of administrations will have to use state power, all politicians are
hypocrites when faced with a crisis.
3 - National governments are powerless in the face of global trends (
ok so we
already knew this but its worth highlighting again in case anyone forgot about the
whole Globalisation thing)
4 - My house is now owed by the British taxpayer
5 - Very few of our elected leaders, civil servants or bankers understand the flow of money around the globe.
Finally, isn't it lucky that a big power happened to be in the Presidency of the EU during this period. Would the PM of Slovenia, Finland or Ireland been able to cut a deal like
Sarkozy managed at the weekend?
