If the government wasn’t such cowardly liars they might have the decency to admit that scaring the population into voting for a “stability treaty” has become even more ridiculous since the death watch of the euro started on Friday night.

David Cameron is having an emergency meeting today at 10 Downing Street, including  the head of the Bank of England, Chancellor of the Exchequer Osborne, FSA chairman Lord Turner and a number of other. Daily Telegraph story says it’s to discuss “contingency plans.”

Switzerland is making its own contingency plans and is closing its borders to “foreigners”

El Pais has a report that Banco Financiero y de Ahorros (BFA), the parent company of Bankia, will announce tomorrow that it has to rewrite its 2011 figures from a 30 million euro loss to at least a 3.5 BILLION euro loss. The loss is reported to be the largest that has ever occurred in Spain. Estimates range from a 100-200X increase from their original figures.

One could compile a mile long list of the breakdown of the banks and economies throughout the Trans Atlantic region. One Irish blogger wrote, “Oh my God, it’s like 2008 all over again.” It is, except its worse since from 2008 on the bailouts of the toxic banks have left the economies and populations of Europe and the U.S. in shambles.

Obviously we not only have to vote NO on 31 May and extricate ourselves from the spider web of the disintegrating euro, but we also have to bring into being a real and courageous Irish government to fix the mess. The first step is to immediately stop paying the gambling debts of the banks and to implement a Glass-Steagall firewall that will save the economy and throw the speculators debt in the rubbish 

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