$287 Billion Carbon Waste in Europe and they wonder why they are broke!

Climate Common Sense(Australia)
"The giant Swiss bank UBS has slammed the EU emissions trading scheme as a huge waste of 287 billion euros and having negligible impact on cutting emissions. The same EU turkeys running this boondoggle are now taking over failed economies of Greece and Italy on the basis of supposed financial expertise.God help Europe! UBS also has bad news for Australia's carbon tax proponents saying that the EU market is on the verge of a crash next year and carbon price set locally at A$23 per tonne could go as low as 3 Euros a tonne in Europe making a farce of our carbon tax."