European Banks Refuse To Lend To Each Other
In the News (From The Financial Times): “Strains in the eurozone short-term lending markets have jumped sharply this week amid worries that the sovereign debt crisis will deepen, threatening the ability of banks to fund themselves.
“Nick Matthews, senior European economist at RBS, said: ‘We are at a key moment in the eurozone debt crisis. There are tensions in the financial system with still many banks having difficulties accessing the private markets for loans. These banks have to rely on the ECB as a backstop. But this is not a long-term sustainable solution.’”
My Comment: What our brains do not do, time does. In other words, whatever we do not do for advancing ourselves correctly in similarity to nature is done by nature itself, which will force us to reach the same state of unity through crises and suffering.
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“What our brains do not do, time does. In other words, whatever we do not do, advancing ourselves correctly in similarity to nature, is done by nature itself, which will force us to reach the same state of unity through crises and suffering.”
It is not a laughing matter, but one cannot resist the truism here that for those who advance into the unified system with little hurt will happily find that “time heals all wounds,” but those who will not will tragically discover that “time wounds all heels.”