The European
Union just announced a deal to place banking supervision in the hands of the
European Bank, another drip in the Chinese water torture labeled “European
Crisis” by the media.
Runs on banks are
the problem, Eurocrats. Runs on
banks. Europeans pulling their euros out
of European financial institutions holding bad European loans to broke European
countries at some point in the grim and insolvent European future. Runs on banks have always been the problem.
Tell us how you’re
going to handle bank runs, Eurocrats, and make the pain go away. Traditionally, it takes money. Somebody’s got to come up with some money.
Who and how?
