Which airline is next to go bust?

With the news that the Spanish Budget airline "Spanair" and the Hungarian airline "Malev" recently went bust, one wonders who will be next?

In the case of Malev, the 66 year old Hungarian national flag carrier was actually forced to stop flying, following the fact that the Hungarian government were prevented by the EU in financing the struggling airline. This will result is a significant number of job losses in Hungry and beyond and serves as a chilling reminder of the EU’s strict financial policy.

The Spanish airline, Spanair, left thousands of passengers stranded as talks to save the struggling airline finally broke down on the 27th of January 2012.

Other fairly recent casualties over the past few years were Zoom, Silverjet, XL, FlyGlobespan, which demonstrates the problem is not new. In fact it was  non other the chief executive of British Airways who stated in 2008 that 30 more airlines will go bankrupt, so we surely can expect more.

The bookies favorite is Monarch. Other prime candidates are reported to be the Polish carrier Wizz Air, the Finnish flag carrier Finnair and Aer Arann. 

We welcome comments and suggestions from readers.

The European economic reality Poem

As a historical European economic crisis unfolds before our very eyes and we see a shift of real power move to Asia, here is a fitting poem that I wrote to capture the light side of this new sickening reality:

Who will tell the Greeks they will eventually go Bust?
It seems that the euro is no longer a Must!
Its the EU's austerity answer to the economic disaster,
Tax more of the same and no need to care about the Trust.
---
How to inform the Italians they are beginning to Shrink?
And who will update the Swiss they are no longer in Sync?
Regardless of desires it all bitterly transpires,
That the once ice cool will not take long to melt and Sink!
---
There's nothing like the sound of the shallow jumping in at the Deep!
As the countries on the edge are beginning to Weep!
Seeking a Political womb or a European counseling room,
In the end they will give more than they get to Keep!
---
Who will advise the non-elected they were never in Demand?
And that the power of the vote should be the only Command,
Highly creative expenses and commissions that were senseless,
Yet the public never demonstrated the stomach to Stand.
---
German and French leaders collude like the voice of Big Brother,
Preaching to the sick, mortally ill and the multiple Other.
Will the British get to escape the European economical rape,
For sure they will nag just like an "I told you so" Mother.
----
So how will the mighty Europe eventually End?
Perhaps begging to the Chinese with an extra Bend!
The concept of bail-out is no longer a lingering doubt,
It boils down to the message they will finally forge to Send.

Europe's 10 cheapest cities to visit

As we live in a age of austerity with the continental countries of Europe facing unprecedented EU challenges, such as escalating inflaton rates, higher VAT and with the general impact of the credit crunch and import costs, future tourists are starting to look carefully which destination offers the best value for summer 2012 or a winter break.

Here below is the updated list of Europe's 10 cheapest major cities to visit.

The greatest surprise on the list is London, which due to the fact it is outside the EU prices are relatively falling enabling it to reach Europe's bargain hotspot top 10 for the first time in 5 years. This is good news for Olympic Games visitors, however we must balance this information with the recent increase in exchange between the euro and the Pound Sterling, making it more expensive to buy GB Pounds now than inthe last 5 years or so.

Its interesting to see that Athens London sixth on the list and the Norwegian capital Oslo last. 

10 Cheapest European Cities:

1. Warsaw, Poland.
2. Prague, Czech Republic.
3. Budapest, Hungary.
4. Vilnius, Lithuania.
5. Brussels, Belgium.
6. London, England.
7. Berlin, Germany.
8. Lisbon, Portugal.
9. Dublin, Ireland.
10. Madrid, Spain.