Euroland's Version Of The PPT

Over here, it's called the President's Working Group On Financial Markets. Over there, it's called the European Financial Stability Facility.

Both are nonsense.

The President's Working Group On Financial Markets, our so-called Plunge Protection Team, was utterly helpless as the markets crashed in 2008-2009.

Governments are no match for pent-up market forces.

You'd think the Europeans would agree, but the elites cling to their fantasy of a European Union with such tenacity that the potential for it to unravel due to pesky, unwieldy markets is absolutely unacceptable.

Hence the EFSF.

After all, the EU must succeed in order for there to be a North American Union, and then an Asian Union, and then a Mideast Union, and then . . .

Or as Bond put it, "World domination. Same old dream."