To put Cable's £1bn to small business lending in perspective, the proposed cost of a new EuroVegas to be built on the outskirts of Madrid is €22bn. The brainchild of Tea Party stalwart Sheldon Adelson, the resort will be Europe's casino capital, planned to attract millions of visitors a year. With 20,000 hotel rooms, the resort is predicted to create either 260,000 jobs (Adelson) or 200,000 jobs (Spanish government). Critics say the difference is that Adelson is counting the prostitutes. Indeed, critics are predicting a veritable EuroSodom in which prostitution, drugs, racketeering and money laundering will flourish, an impression not aided by Adelson's insistence on freedom from Euro employment laws and a derogation from Spain's smoking ban in the resort.
So, a wild, lawless morass of sexual excess and cheap hotels and restaurants subsidised by gambling ninety minutes from London? It could be huge. Those of London's straw-donkey pink-dralon and gold-sovereign semi-crim classes currently drawn to the Costas will flock there. There will no doubt be several English Pubs serving Stella and sausages and Bollinger and the illegal Brazilian tarts will no doubt learn a few words of English.
Of course as Adelson's company is only putting up 35% of the equity, the bulk of the investment will have to come ultimately from, er, Germany. Through the bank re-capitalisation. The irony of the prudent Saxon hausfrauen funding orange dancing girls in spandex thongs for the benefit of London City boys splurging their bonuses is truly delicious.