Mr Richard Lambert, head of the Confederation of British Industries said that the run on Northern Rock Bank has made Britain look like a Banana Republic.
The British gutter press publishes jokes showing the «Bank of England twinned with Paraguay.»
It is quite mistaken, it shows how little the British know of the world and how out of touch they are with outside realities.

I’ll tell you about Banana Republics.

Let’s take Uruguay: A few years ago a big bank, Banco Comercial, went bust.
It destroyed the savings, livelihood and businesses of thousands of people in Uruguay, Paraguay and Argentina -among them members of my family, that’s why I know.
The owner, Peirano, from a well-known Southamerican banking family, scarpered to Miami and he is there, safely spending the money he filched from the bank.
The government didn’t pay the people back the money they were owed and they have no hopes of ever getting it.
The difference with what happened in Britain the other week couldn’t be bigger.

What happens is that the Fascists in Britain woudl have liked to see the Bank of England doing nothing, and let a disaster happen, as they have advised in the pages of the Telegraph and the Mail, then turn around and criticize the Labour Government and the Bank of England for doing nothing and letting the crisis run unchecked.
The people expect that their elected government when faced with a crisis, solves it, not just sit and let things take their course: argueably that’s what they did in Britain back in the Depression of the Thirties and see what happened at the time.
Any idiot can do nothing and let matters take their course and that is the advice of the Telegraph and the Mail, claiming that the intervention of the Bank of England signals the End of Capitalism in Britain !
I believe that Capitalism is going to last longer than me and you.

The comparison with a real Banana Republic like Uruguay couldn’t be more unfair to Britain and Mr Lambert is doing a disservice to his country in saying that. It creates fear and mistrust.
And in Uruguay they don’t even grow bananas, ‘cause they are too lazy for that.

Por Armando

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