First Come First

The world economy has suffered numerous setbacks after the banking debacle came to light in 2008. Governments bailed out the banks and politicians told the taxpayers that they and their children were responsible for the debt. The USA merely printed for dollars, but the nations of the EEU were handcuffed by the Euro and the insolvency of several members, especially Greece. France and Germany sought a compromise to bolster the faltering currency and last week seemed to have reached an agreement acceptable to all parties until UK PM David Cameron obeyed the demands of his country's Euro-skeptics to protect the financial institutions of the City of London and vetoed the EEU's call for more fiscal regulation on the banks. The UK under the Tory leader has decided to go it alone. Austerity now. Austerity next year. Austerity forever. A lost generation of youth, cuts to the public sector, loss in income are Cameron's offer to the British nation, as the PM showed a strong face to his right-wing constituency. 'Blunder of a lifetime' was what one European parliament member called the treaty boycott. "There is one golden rule in politics: you only walk away if you are sure that the others will follow, for when you are invited to a table, it is either as a guest or you are part of a menu." Liberal Party leaders have distanced themselves from the PM, as if he had cut a fart during a dinner. "It's not us." But the stink sticks to the coalition partners, while the Tories hope to weather the storm by calling labor and the Liberals 'cowards'. When in doubt, name-calling works best for the weak-minded. Cameron's use of the veto scored a rousing 58% with his Tory backers showing support of 87% for insuring the safety net for the City of London.