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Merkel To Europe: "Prepare To Cede Sovereignty"
The liquidity tsunami that started in September of 2012 in the Marriner Eccles building and continued with the BOJ's own epic QEasing expansion three weeks ago, has so far provided the impetus for Europe to kick the can of its inevitable dissolution for a few more months, yet slowly but surely the market is starting to read through the artificial levels implied by Italian and Spanish bonds, driven by recycled ECB funding via bank and repo conduits and of course Japanese carry cash, and rumblings of a return to crisis conditions are back.
And as always happens, once the crisis talk is back, so is discussion of a fiscal union. Sure enough, earlier today Germany's Angela Merkel once again reminded everyone just what the stakes are in order to achieve a truly stable, and sustainable European union: nothing short of ceding sovereignty to Germany. And with that we are back to square one, because that has always been the trade off - want a unified, fiscally and monetarily, Europe? You can get it: just bow down to Merkel.
From Reuters:
German Chancellor Angela Merkel said on Monday that euro zone members must be prepared to cede control over certain policy domains to European institutions if the bloc is truly to overcome its debt crisis and win back foreign investors.
Speaking at an event hosted by Deutsche Bank in Berlin alongside Polish Prime Minister Donald Tusk, Merkel also defended her approach to the crisis against critics who argue she has put too much emphasis on austerity, saying Europe must find a way to deliver both growth and solid finances.
The comments came two months before European leaders are due to gather in Brussels to discuss moving towards a so-called "fiscal union".
The punchline:
"We seem to find common solutions when we are staring over the abyss," Merkel said. "But as soon as the pressure eases, people say they want to go their own way.
"We need to be ready to accept that Europe has the last word in certain areas. Otherwise we won't be able to continue to build Europe," she added.
Two conclusions here: Europe will be "staring over the abyss" very soon once again, and where Merkel says "Europe" she means Germany.
This is confirmed by the immediate denial of precisely this, adding "it would be "dangerous" if other countries in Europe felt Germany was imposing its own economic model across the entire bloc."
Oh, ok then.
So just what is Germany's vision for "Europe":
"We don't always need to give up national practices but we need to be compatible," Merkel said. "It is chaos right now."
"We need to be prepared to break with the past in order to leap forward. I'm ready to do this," she said.
So... just give up national practices sometimes. And yes, Merkel is of course ready to head the asset-stripmined continent. The question is who else in Europe is willing to hand over their liberties to the next iteration of the German Reich?
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Cede Sovereignty. You know like the good old days, Poland, Holland, France etc etc.
This talk has been going on since 2008 at least. The necessity for a fiscal union was obvious 15 years ago. It's amazing that they pushed ahead with the project the way they did, but I guess "nobody saw it coming" (the US problems of 2007) and thought the prosperity of the first few years was going to go on forever. Anyways, at the very least all the politicians involved knew what they were getting into. They just need to figure out a way to implement it and get on with it.
if this necessity was obvious 15 years ago then it's ok if we wait another... 150 years
On the contrary, it is time to do what should have been done in the first place and get on with it.
The problem is ... people like me.
I am really just not interested in you or how you live, it's clearly a kinda dumb way of living your life, so I'm going to live mine in my way.
Don't worry, I'm not interested in you either. God bless democracy, eh?
Afaik, it was obvious 20 years ago, but it was also obvious that there was no political will to do it. So they decided to go without, assuming that once the necessity will appear clearly to everyone, there will be a political consensus for it. That's where we are now. Merkel is pushing for fiscal union, and countries one by one (or bailout by bailout) realize that they need greater solidarity, and thus a common tax policy.
It was your friend Jospin's fault in 1999 Nice; and Chirac also, hamstrung as he was with 35 H week; all he wanted from Schroeder at Nice was : PAC, protecting his agricultural lobby!
He didn't try and integrate fiscal reforms and productivity as a package as offered by G Schroeder.
Your memory fails you! It was socialist France's fault in 1999-2002 period; crucial...
well, you could have added to this list the semi-insult to Joschka Fischer's union plan, which was also an occasion lost.
You're right wrt Jospin and Chirac, but being in the same party as the former doesn't mean I endorse all its positions. But wrt 35h workweek, you're too harsh: most enterprises have freezed salaries a few years which has largely compensated this 10% raise in per hour cost. What killed the proposal was the history of the Socialist Party, in which Mitterrand, and Jospin after him, have gained leadership by battling against more modern/liberal guys (led by Rocard), and the arrogance of Jospin, who refused to admit the "errors of his way" once in power.
Finally, I could extend the crucial period to 2005 to include the right, but I don't think that trying to diffuse the blame has any sense.
Just to give you a feeling about the criticality of labour hour productivity. I worked for a multinational service sector firm with affiliates in France, UK, Italy, Spain and JV partners in Germany whose labour cost statistics I had access to.
This was in the 1980s when we worked 39 hours/wk in France and approx. 1760-1790 hrs/yr.
The French cost/productivity curve was 20% better than UK, 30% more productive than Germany and at par with Italy. Only Spain was 30% cheaper for a given lump sum job; but they were often not sellable as company (affiliate) on international projects as they lacked technology references relative to their sisters. This was crucial to sell a project execution affiliate center on international bids, as price/mhr, productivity and past performance on similar tehcnology, were the three basic criteria on international projects. These were large size industrial engg projects.
Twenty years later the french affiliate works more like 1600 hours, and has a cost/productivity ratio which is 20% higher than Germany! We have gone from 30% better to 20 % worse. This is now a general comparison on all service sectors for hi-tech services.
Game over, not only for our industry but also more crucially for our french high tech services sector!
Yes, both left and right have created this incredible slide into mediocrity and french workers, who are fabously productive and talented, have been betrayed by French Ena "pensée unique" culture, once more.
As you know only too well your former alma mater has run France since Giscardian times; aka 1973 onwards!
We need a cultural revolution now in dire first world depression times...I feel sorry for my children.
A last point, your current functions are centered around financing small enterprises. I ran one for 15 years in the municpal waste recycling sector. So I know what I'm talking about as an exporter HATED by the statist machine. The monopoly systems erected by french state in ALL these areas makes entrepreneurial activity very risky as we are up against big company monopolies, l'enfant cherie of the ENA, who only work in government protected environments on home ground, unlike me who exported and made protfits until I was cut out by monopoly shenanigans; with government complicity!
Cest la vie in France. "Move along you will get no more state collected material. You may be the first guy who intiated it in France but we don't need you anymore!" Wow! We are in Colbertist times! My business in recycling stopped dead on the basis of a political decision whereas I was selling it for the municiplaities at a price 100 Euro/Ton more than my competitors who ONLY sold to crony local partners in an incestuous loop under Ministry of environment benediction.
The same thing is happening today in all those companies who have invested in alt energies, competing against EDF/GDF.
Ask yourself why the french government shelved the ONLY french small company investment institute called IDI in 1986 and has done nothing to encourage the creation of venture capital funds in France since then!
Not only is entrepreneurship stifled, it is despised. Pity for france! I speak from bitter experience.
United States of Europe was actually a Churchill proposal once out of power...1947
The last German emperor also visioned a United States of Europe during World War 2. The idea started gaining momentum in the early 20th century.
How about you fuck off ?
We don't fucking want it ! Get it !
.
"We don't always need to give up national practices but we need to be compatible," Merkel said. "It is chaos right now."
Ve Must have order!!!
Meanwhile ..... Somewhere, DSK is preparing to "seed" another housekeeper.
Gives new meaning to the term 'green shoots'.
Common saying in Germany :"Vertrauen ist gut, aber Kontrolle ist besser"
"Trust is good, but control is better"
Apparently it wasn't exactly what Lenin said, but close enough.
its optimal for rest of Europe & US to force Germany out of EUR zone via private sector boycott; with reduced exports they will collapse..
Adolph - Ve have finally done it - und vit out firing a shot...
EU bag man says: "The iron lady has died. Long live the iron lady."
Europe 101: there are areas with a common policy decided in Bruxelles (e.g., fishing), and areas in which the member states are sovereign (e.g., banking, taxes).
Some member states refused previously (in 2005) to have a common policy on taxes and banking regulations (e.g., Ireland, ...), so they made decisions in these areas on their own. Now, they want other countries to be responsible for the decisions they made as sovereigns. Note that it is always member state groups (euro-groups, council of finance ministers,...) that meet to discuss bailouts, and never the European Union, because it does not have any competence in these matters.
And if I follow ZH editorial line, these other countries (or the EU itself ?) have to pay without mumbling a word, otherwise they will be marked as nazis. Where is the logic, here ? Whereas I can understand Frau Merkel's logic: If we have to do something in common, we have to do it within the EU, and thus integrate these policy areas to the EU. To dumb things down, she says we have to go from inter-state cooperation to federal policy.
thats what I pointed out too in another post; but Ghordius here is dubious.
We will find out after german elections where Germany stands on this issue.
What happens in the meantime in Italy and Spain will make things come to a boil...in 2013.
3483208
I understand Ghordius point, especially as it was stated on Cyprus: what happened before the banking union is not covered by the banking union. Actually, even in France, few realize what a fiscal union would mean. Basically a majority believes it means that other countries will have to do like France, instead of the contrary. But I also agree that Spain, Italy, Slovenia, (Netherland ?) shall make the status quo impossible in the coming months or at most years. What then happens is anyone's guess, though from public stories around the euro creation it was intended that the end result would be a more complete union, not a disintegration.
"May you live interesting times..."
Go fuck yourself Merkel. Stop trying to fix stupid and leave the poor saps to their own fate. Europe has been here before. Everyone else, hedge accordingly.
Soon the Europe will consist of just three countries -- Iceland, Switzerland, and Merkelland.
hmmmmm? Is that a little mustache above her lip or, even worse, a shadow?
"nothing short of ceding sovereignty to Germany"
is quite a bit different to what Merkel actually said and meant:
"... that euro zone members must be prepared to cede control over certain policy domains to European institutions"
But pls. don't stop to make yourself look stupid thanks to such pathetic attempts to spin something.
If a sovereign nation gives up control of any aspect of its authority then it is ceding sovereignty, you dumb biased fuck.
Since you are apparently not even able to understand the difference between 'Germany' and 'European institutions', you should better keep playing with whatever parts of the femal body you think are the tits.
It's not a new German Reich as most Germans strongly oppose Merkel's approach. It's a 1 percenter's Reich or fascism of the 21st century. Banks, big businesses and politicians against the people.
a little history regarding the treason against the People of united States of America
http://www.youtube.com/watch?v=pTk9fM9SqRI
German Chancellor Angela Merkel said on Monday that euro zone members must be prepared to cede control over certain policy domains to European institutions if the bloc is truly to overcome its debt crisis and win back foreign investors.
This isn't about winning back foreign investors, it's about a one world technocratic dictatorship, and it's coming here, so you better assert your rights
To make a long story short:
We are now staring over the abyss, so we need another leap forward.
Nazi Germany had the following motto -
Ein Volk, ein Reich, ein Führer
"One People, one Reich, one Leader"
Looks like Merkel is trying to reestablish that principle...
It was Hitler's birthday. Hand out the brown shirts.
Yep, it is going to be one of those days, and of those days, a more challenging one of those days:
Dudley saying the bond buying is 'more helpful than thought'
hero's, per media, able to hold long awkward eye contact, then have the wherewithal to provide detailed, photographic testimony under heavy sedation. Any due process, at all? meh...just launch next phase of it all: Time Man of the Year=City Lock-Downs
The market, which is the real symbol of these good ole days, ramps in almost human-like celebration of the great accomplishments and pride, apparently, of all of the glorious goings-on over the past several days
cat and hal, all good, no worries there.
I guess the only thing now would be a krugman article, nothing special, just a standard, per usual krugman piece to kick the week off just right.
How appropriarte, right around Adolph Hitler's birthday. Where are the swastikas in the background?
western germans hate their eastern citizens paying to easterners lower social security and other welfare benefits.
Can you imagine telling them they have to pay for greeks or rumunians ?
Forget it, it was a farse from the very beginning
What country's leaders can cede any control of the laws and finances of the country, which is specifically the preserve of the people through democracy.
Merkel is asking countries to cede 'some' democracy. Cede some is cedeing it all. If I cede my right nut you have the rest.
ZH has got it exactly right. You would have to be a fool to not understand the import of what Merkle is saying.
The Merkle plan is more of Mussulini not Hitler...a fasciist corptocracy.
In the near future, most democratic nations will cede 'some' of their sovereignty over to the United Nations.
how bad is it to live in an union in which states do not have the right to even a small deficit ? Completely undemocratic, right ?
And we know how the Neville Chamberlain response worked out...........
on the other hand - can you force a jobless greek to learn german and go to work to germany (because there are and will be no jobs in greece)
P.S. in germany they have rules that if you seeking job and you are single you may be forced to go to other city if there is work for you (and you will not be getting any more jobless benefits)
'The market' read through the artificial levels implied by Italian and Spanish bonds. Makes me laugh.
Uuuuhhuuhh! Those evil Germans and their devious schemes to control teh world.
Get a fucking grip people, of course the stupid hack has to play hardball, she has an election to win in Sept and has the No-€-folks from AFD on her back.
As soon as that is behind her she will fold like she did the last 8 times, just like her DB kyke masters tell her.
just bow down to Merkel.
Jawohl, meine Führerin!
Maybe Germany would be willing to put the future of Europe in the hands of leadership from Greece, Italy, Spain, Ireland and Cyprus and have Germany take a back seat. Itis the power to create and distribute money that gives the northern coutries superiority in the current union and has nothing to do with their fundamental financial strength or moral superiority.
Put the checkbook in the hands of Greece and see how Germany likes it.
Guys, remember that Mutti is taking orders just like o bummy!
When you think some posters in here tried to paint that 'american' merkel woman as the last caretaker for sovereignty of nations...
It takes 'americans' to try to push this kind of propaganda.
How thick the lie is, 'americans' cant prevent, it is part of their eternal nature.
No way out for 'americans' residing in Europe but blobbing up.
The 'american' blob must grow bigger to avoid facing the past...
Welcome to an 'american' world.
When you think some AnAnonymous poster in here tried to paint that 'chinese citizen' east german merkel woman as a laudater of 'americanism', it is easily seen the absurdation of such claimancy is a deep sea for fathoming.
It takes 'AnAnonymists' to try to push this kind of propaganda.
How thick the lie is, Chinese citizenism citizens can't prevent, it is part of their eternal nature.
Is it a secret that now the Chinese citizenism main religion is communautist blobbing up by far?
The Chinese Citizenism Communautist Party blob must grow bigger to avoid facing the past...
Welcome to an AnAnonymist world. It is a smelly blob, blobbing up soon in your town, you'll see.
Merkel to Europe - "Prepare to cede sovereignty!"
Thatcher predicted this decades ago.
http://www.youtube.com/watch?v=5TPpuIslzG4
Thatcher's solution as we see it today...is it better for UK and the world?
Easier to sing "from discord to harmony" than to achieve it.
Road to serfdom...? Ask the middle class in first world on that!
And...don't tell me Major, Blair, Brown and Cameron are not her spiritual sons; everyone of them on the financial/economic front.
The way I see it, it's simple:
Do not cede sovereignty or freedom or gun rights or your bank accounts or rights or whatever to any TPTB Big Government scheme. This is straight out of the ZH mentality. Especially not in return for promises of freedom or prosperity. Because it never works for very long. Look at this game the EU and America are playing right now - everything is being kept alive through the ues of other people's money. (another Thatcher prediction) Once that money runs out, they print to the moon and fix the books. Once that idea wears out, the crash comes. Everybody is in the middle of champagne wishes and caviar dreams and suddenly it's lights out - back to eating tuna fish out of a can.
What Adolf couldn't do with blood, Angela will do with (red) ink...
Don't be too sure that blood will not be spilled here. With youth unemployment rising ever higher this may be a very violent summer along the Mediterranean.
Well, it does make sense... in a certain way.
Only Germany can make some order in Europe.
Yeah, it's the 4th Reich - question is... is it bad?
Another - better - way to fix thing is to disband the damn thing.
Europe needs the opposite - governments that govern regions and cities.
But there is too much debt to be shared in a fair way. I am afraid that any sort of break up cannot be done in a civilized way..
Notice how every single thing with these people at the top is about 'ceding' this or 'regulating that' or 'levying fee of X' on something. Whether it's Europe or America or Australia or wherever.
It's never, EVER about freedom, or giving power to the people, or enabling multiple choices, or just leaving citizens alone.
They just can't quit until the whole thing falls apart and war breaks out. It's always the same.
you do know we are in a crisis like no other created by the "private sector"...scions of freedom; from Australia to Hawai...
Where were you in the interim period ? Why should they quit ? THEY LOVE POWER!
Until the people can reign in both the neo feudal CORPO oligarchy and the statist clique, we won't have peace.
Simple as that; CHarybdis and Scylla; old story.
And, it'll have to be on a global basis this resurgence of "we the people"; that's the catch and thats what make the Oligarchs laff; seeing the sheeple'S REP IN CONGRESS, CRONY LOBBY SUCKERS, unable even to agree on simple things...like regulating who buys guns.
"unable even to agree on simple things...like regulating who buys guns"
There can be little in the way of regulation that can be achieved when you can't control production and distribution. I've seen knuckle draggers make AK 47s on film with no power at all. Each piece is hand done by use of template. Demand is high and the product whatever it may be WILL meet the customer when the price and the product are satisfy the wants/needs of both the buyer and the seller.
This is why I say that in America, there are about 3000 of them running 320 million of us. And what drives the 3000 of them every single moment of the day and night? Two things:
Money
Power
And nothing else. Every single act of their life is toward the endless fulfillment of those two objectives.
I tell this to every single person I can. It's hard because the average citizen has a tough time understanding THAT kind of mentality.
It's almost like they're trying to create chaos...
It looks intentional
FORWARD SOVIET!
One of the things I see coming out of this are a 'united' (at least in a working sense) Germany and Russia. This was MacKinder's biggest fear, that the two dominant Continental powers (one situated in the Heartland, the other totally dominating the Euro arm of Eurasia) would cooperate to subdue the rest.
Of course they will eventually turn on each other with much blood and ruin, it only took a year and a half last go 'round, but something tells me they'll make this one last until the populations of once free nations are subdued in spirit, if not in everything else as well.
Happy birthday, Adolf. Love, Angela
Curious to see what TPTB in Slovenia are thinking about this statement right now. Considering that a couple days ago they ASSURED (denial) the world that everything was fine and no banking collapse was imminent.
On a separate note, wouldn't you love to see the frantic movement of Slovenian TPTB and Bankers' money out of the country and into foreign accounts right now?
EIN VOLK, EIN REICH, EIN... Oh, nevermind...
this injunction sounds to me like "inflate you life jackets"
Justified emotional reactions aside, this will require referendums in many EU members. Predictably the result of most referendums will be a giant fuck you to this new Anschluss attempt. So I think that Germany has finally come up with a plan to leave the Euro first, instead of waiting for somebody beat them to it.
I know of at least of two women in CT that are receiving pensions from German government for their frei arbeit contribution during ww2.
What 100 Wehrmacht divisions could not accomplish now is done with a PowerPoint.
If only Hitler could do it all over again. Wouldn't have to fire a shot.
Sorry OTTO MBMP but....
if Angela Merkel is a very efficient NWO agent, why are Germans so fond of her?
Why is she so determined to keep the Euro that is suffocating all European countries over time? What are Germans going to
earn out of this mess? Will the export more or less?
Back to local currencies and national central banks please; this world is imploding.
Easy, because Germans like pretty much everyone else are muppets.
I should know, I have lived here long enough.
Thought I heard Merkel say "Klaatu barada nikto"
@falak pema,
please don't associate Thatcher with Major who turned out to be an incompetent, closet euorophile lech.
or with Blair who is a lying, europhile, jpm loving war criminal.
or with Brown who was the worst chancellor the UK has ever had, as well as being a crap PM
or with Cameron who only has a temporary job until we can elect a real man or woman to knock some sense into this bloody country and tell socialist europe to fuck off.
Not only did Thatcher say : to a country in discord I shall bring harmony (ask the miners on that), but also :
My greatest achievement as PM : New Labour.
Straight from the horse's mouth. Blair was the epitome of that about turn of labour and GWB's little "poodle" was absolutely on the same line as Maggy when it came to bashing "evil empire" now become "clash of civilization" with rogue states in NWO. Their perceptions of US hegemony were two peas of same pod.
If Maggy is just "europhobe" to you then you castrate her in historical terms (metaphorically speaking).
She was more. She was incarnation of Neo feudal revival.
You do understand how that is relevant today?
I'm not sure why u all are being so hard on der Frau, I'm sure once you get a few drinks into her she'd be a lot of fun.
/sarc
Unfortunate that Deutsche Bank sponsored the event. How many remember Hermann Josef Abs?
http://tinyurl.com/blhse3h
We need lots of local democracies that are better at responding to local needs not a centralised dictatorship that is the worst at responding to anyone’s needs.
Amazing, are people here on zh finally realizing how phony the very idea of debt is? How can anyone take these assholes seriously when they produce nothing and charge you for it?
The six pointy star beast of Jekkyll island is preparing to take the final gamble, hoping people are dumb enough to not see the wizard behind the curtain... again.
Do you refer to the so-called "Star of David?" That star is found in burial sites of non-Judaic persons. That star is not in Scripture. That star has no specific exclusive relationship to Rabbinical Talmudism or Judaics.
Another of virtually endless lies and fakes perpetrated on stupid naive goyim by Rabbis.
I would just remind the posters critical of Merkel that she is the Chancellor of an occupied country ! Germany and Japan both lost the war and they have been occupied by the United States , the victor . Did I not read that the Japanese government concealed for decades the expenditures that Japan paid for US troops stationed on its soil ? I cannot imagine that Germany is NOT paying for its occupation as well . If anyone on this forum does not like the idea of a "one world" , then he/she should sign up to NumbersUSA at their website : www.numbersusa.com . Amnesty must be defeated or else will will be drowned by 50-60 million low skilled third world immigrants from south of our border over the next 15 years or so. Even Tyler posted a garbage column about how granting amnesty will increase GDP because the illegals will start buying houses . What a laugher ! Of course we will have an increase in GDP if we have tens of millions new arrivals no matter how little skills they have , but our standard of living will plummet and real incomes will drop for the flood of new arrivals will be competing with our current low and medium skilled workers. Of course we will have to pay welfare benefits for both these groups . Now as far as housing is concerned , My middle class Chicago neighborhood actually benefited from the housing crash because many foreclosures eliminated hispanics from my neighborhood. They bought houses , three families living in a single family home, made parking impossibe, and many of them were loud. We cannot retain our quality of life if we allow the high population growth countries of Lating America ( Mexico's population is expected to increase 15-20% over the next decade ) to flood our country with their excess population. SIGN on to NUMBERSUSA RIGHT NOW!
peace with Germany was signed a few years ago.
Thank God I sold my Sonoma County, CA home early 2007 weeks/months before true carnage arrived (sold $570k, value dropped to high $200k).
While the house was listed I battled for months with local code enforcement. The Latino across the street (quite sure he was illegal...I know his employees were because they ran like lightning when they saw my camera) ran his hazardous waste industry from his home. I counted up to SEVEN commercial vehicles complete with signage parked directly across the street from my home. Garage converted for some commercial purpose. Every morning his crews appear, load up vehicles, talk, wearing uniforms stenciled with his business logos, etc. In the evening when he returns HIS INDUSTRIAL WASTE FLOWS INTO CITY DRAINAGE.
Sent images with quotes of about a dozen blatant chronic and most eggregious code violations to code enforcement. I'm sure no one reading this is shocked at their reply: "We have unfilled supervisor position. Workload too high. We'll get to this if/when possible."
Finally after about the third time I called PD for parking violations the god-forsaken civil servants appear and humbly requested our poor victimized Latino friend, "Please stop so we can get this neighbor off our back and return to our 8 hours of internet surfing and phone conversations."
Oh, one last item on the house sale. Bank agreed to $13k cash kickback to buyer. You know where that $13k appeared on the permanent public record? Included as the selling price. Yes, anyone referring to most recent sale price saw number inflated $13k more than what we received.
I donate to numbersusa.
Late last year another poh victimized Latin lady illegal was driving her Cadillac Escalade (not kidding) with opaque ice'd windshield (probably 4-11 and can't see over the wheel), with illegal fraudulant driving license. A white neighbor of mine is on his bike waiting for the train to pass. She pulls illegal u turn, pushes him into the train and murders this poor guy. What were his last seconds on earth like?
You know what this god-forsaken DA agreed to? Misdemeanor for which she can get no more than one year. She'll probably do nothing, send her back to shite hole Mexico, back same day. Maybe she'll kill one of the readers of this note next time.
If you are accused of wrongly touching a woman in this state you'll do felony time. This dark skinned lady murders and may walk. Why? Because it's too much trouble for the state to get funds from her to pay her court and prison time. If she was white citizen, she or her family would be a cash cow and she'd be facing several years in prison. This state charges per prison day.
Where will this European growth come from? There are not sufficient jobs in the EU to generate stable living wages and tax base. Greece, Spain, Portugal, Italy Ireland, France all have depression level unemployment rates.
What is she and her advisors smoking? There is no growth in Europe and there will not be untill the above countries remove themselves from the the serfdom of European Union.
This time the Amerikans will be on board with the NAZI corporate Socialist agenda, everybody's on the same page, and they have a Mulatto Muslim President in their back pocket to boot!
Imagine the leverage Putin has over Obama right now, all the data on "that" terrorist.......and perhaps hundreds or thousands more, enough to cause an instant impeachment easily.
Great stuff today, ZHers! My education continues. Lately I've been finding myself looking at my college diploma hanging on the wall (you know, the one that says I'm educated?) and laughing out loud.
A million thanks for your collective wisdom and insights.
If the dumb europeans hate austerity, wait till Germany is in full control.
To put the kibosh on that, the French should insist on a BMW/Citroen merger as part of any deal.
Would you please explain what mechanism will allow Germany to gain that control? The debtor states are the majority in any European institution. Could you describe any action of the German government that came as a dictate to other states? How would the German government or industrial companies enforce such a dictate?
Please give me a hint how German dominance in Europe will be enacted. Give one concrete answer and stop talking/writing nonsense.
What is Germany doing with all that money and power? How will Germany collect all the money that Euro-states owe to us? By sending the German army? Germany was not able to dictate anything to the Greeks (on her own), what will we do to other sovereign countries? Impose economic blockades ?
Give me just one concrete answer how any German action might look like in dominating Europe. You know there are far more debtors than creditors in Europe.
How about two?
Troika, Bundesbank.
Could you give any details? Of course not. You utter slogans with no real meanings. I log out. This is nonsense.
Thanks Cliff
Finally, some rational comments.
I can't believe you have been red arrowed.
Just shows, even here there are muppets galore
Last week a new party was founded in Germany. It consists mainly of economists who say that German tax money is thrown out of the window because of the "rescuing" of Southern European states. And they are right. But why are these respected academics so angry if Merkel is conquering Europe? Is she a stealth-bomber or something like tihs?
I thought that readers of Zerohedge would not recreate the 3rd Reich and Adolf Hitler once again because that is absolute nonsense. I am a frequent reader of Zerohedge articles and I did not see one article that proves that Germany wants to occupy Europe via the Euro. Angela Merkel is an idiot in economic and monetary matters.
Please come down to earth. Am I absolutely and very, very, very angry and furiuos about this 3rd Reich talk.
American bombers committed mass-murder on German cities and civilians. That was more than 60 years ago and I would not associate Zerohedge readers with these crimes. So please use your brain as a filter before you describe Angela Merkel as the next Fuehrer.
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I sympathize very much with your post, especially the reference to allied ww2 war crimes such as the Dresden fire bombing/inceneration of one of the most beautiful cities on earth, and cold blooded murder of 40k innocent German civilian targets (no military targets in the entire city)
You'll have to get over WW II eventually, and the crimes committed. Can we hear an apology for butchering of millions by the Wehrmacht and the Nazi Party? They killed quite a few more than those of Dresden and other unfortunate German cities. You could look it up.
Cede power to Germany, get worthless Euros in return.
Sounds like a bad deal to me.
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Merkel will wait a long time - years not months - for the EZ to unite enough for the Euro currency to succeed.
Is she really planning to kick the can down the road for X more years? Or is she setting out her September election stall?
Merkel is now playing catch-up to solve a problem of Germany & the EU's own making. She is facing growing opposition to the Euro among EZ member states and their populations, including Germany itself. And given many of the German-driven impositions dumped on ClubMed member states by the Troika - including brushing aside democracy in Greece, Italy and now Cyprus - Merkel's name across the EZ is as dirty as they come.
IF one assumes that the Euro is a right and proper thing to have at all (I do not), the right moment for EZ member states to have united their banks, budgets, fiscal/monetary policies and cede sovereignty in all the vital areas necessary was before the Euro was introduced, not four years after it's blown up.
And for what?
Even with all this cuddly cosy unification that Merkel peddles, the EZ will either a) amount to a system of permanent large transfer payments from the richer north to the poorer south OR b) Germany will demand the authority to impose productivity policies on the poorer nations to bring them up to northern standards, with German industrialists and technicians taking over large parts of their economies (and by definition their societies).
The latter scenario is the most likely outcome and it most certainly implies the German 4th Reich, this time without the panzers.
"...Germany will demand the authority to impose productivity policies on the poorer nations to bring them up to northern standards..."
Maybe Germany may demand such a thing (I do not know any politician in Germany who would do so), but how would Germany enforce its will on other Euro-states? Demanding someting is simple but getting what you want would be impossible. The British were very successful in building their Empire and collecting their debts (did you read Reinhart/Rogoff: This time is Different) by sending their navy or their army. The U.S. is using "soft-power" (mostly, on certain occasions one gets a drone rocket).
In the absence of miltary options and economic war (but by what means?) - Germany has no commodities or something like that - how will we get what we want in your opinion?
"I do not know any politician in Germany who would do so..."
Think Merkel herself and her wheelchaired Schaubles. They have both already seriously undermined democracy in ClubMed EZ member states, as I previously mentioned.
As for how Germany might impose productivity policies on the laggards. That's easy: the integration of EZ banking, budgetary and surrender of sovereignty to the EU will likely include clauses that open the door for the richer northern states to "provide assistance in economic development" and will also require large transfer payments to the poorer members from the richer members in the short term, as I previously mentioned. If these member states refuse to allow productivity policies to be implemented, the transfer payments can be stopped, and the EZ member state will have a new crises.
You seem to have slept through what has happened.
When Ireland balked at propping up the banks that owed money to German banks, Merkel threatened the then Irish PM that Ireland would never sell anything in Europe again unless the Irish taxpayer was forced to take responsibility for those debts. The Irish PM folded without telling the people of Ireland what was happening.
When Papandreou proposed to hold a referendum on the euro and the first Greek "bailout deal", Merkel managed a quite coup to have him dumped.
When Berlusconi was Italian PM and not following the Merkel austerity line for Italy, the Frankfurt-based ECB pulled all support for Italian government bonds, forcing up Italian interest rates and forcing Berlusoni to resign.
When Cypriot banks got into trouble, having bought Greek government bonds in a rash of solidarity with Greece, and then had most of their value stripped in order to protect the ECB and Germany, which had also made loans to Greece, Germany put around the smear, which we now know to be false, that most money in the Cypriot banks was black money and so they deserved to be looted. It then destroyed the economy of Cyprus for decades.
The behavior of most of the politicians in small EZ countries is clearly contrary to the interests of their peoples. They are being bribed or suborned in other ways, ultimately using the money taken from their own people.
Merkel is using the EU institutions, the ECB to apply threats against any country and any politician that steps out of line, together with bribes for those who follow Germany's aims. That is how it is done.
Can't all of these Euro nations simply reach an agreement on netting out debt owed to each other. I know there will be difference in rates and maturities but exstrapolate and come to a fair value net out and then go forward.
So Germany once again becomes the focus of tyranny in the world. Do we never learn?
Can you be more specific? Go back in time a hundred centuries and then revise your comment.
Been saying for several that Europe will not break up. The will Federalize.It is obvious as hell to me. Their escape hatch is to print and blame the resultant catastrophe on all the old, lame things- hoarders, greedy merchants the same ones we always hear about. It gives the authoritarians cover.
Facing the music after an outright default was never in the crowds.
I would like to ask Tyler a question: If Finland were proposing common-sense measures to ameliorate the European economic crisis, and insisting on its own conditions for their participation, would Tyler accuse the Finnish prime minister of attempting to take control of the European economy? This facil application of Europe's necessary measures to Germany alone and to Merkel in particular serves only to obscure the true issues and obstruct a constructive solution.
You assume this was all a big mistake and not a covert attempt to collapse economies so to gain control over their assets (national treasuries).
Predatory lending led to this. Market manipulation as well.
What's to fix? Just jail the perpetrators...oh but wait, the perpetrators want to gain control...so you see? The banks are created a new order so they will never face competition/defeat again.
Not a good plan any way you look at it. Competition keeps men honest.
The German great leap forward... I'm sure it's gonna be a success like it's chinese counterpart was.
Germany is raping EUrope to prevent attention to its own problems.
http://www.germanywatch.blogspot.co.uk/2013/04/germany-is-in-default-and-lies-about-it.html
http://www.germanywatch.blogspot.co.uk/2013/04/german-mep-expresses-disgust-at.html