But whilst the public sector is being subjected to a massive upheaval, talk of breaking up the banks, regulating them more effectively or even imposing a tiny financial transaction tax remains, largely, talk. These men may have Goldman Sach’s vote, but I doubt they have that of the European people. The European project is reaching a new nadir.
What\’s actually being missed here is that it is the banks, Goldman Sachs amonst them, which have been shouting for 18 months that austerity won\’t in fact work.
That\’s why they\’re not buying the bonds, see? Which is why the yields are rising.
It\’s precisely the banks which are saying that the politicians are fucking up.