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    The PIGS situation is worse because of the EURO but they too overspent for years building up deficits and high debt. It cannot continue and as you say, like a pack of cards they will fall. The big one, Spain, is the one to wait for, that will really be the end of the Euro.

    Alexander - we have debated defence etc before. I am not speaking for the government but offering my views. I find it incredable the our public spending, at an horrific 53% of GDP, is double that of even Communist China.

    Public spending is the problem - the enemy to a healthy economy.

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