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Another Crushing Regional Election Defeat For Merkel, As Ruling CDU Gets Record Low Vote

Tyler Durden's picture





 

One of the recurring themes on Zero Hedge ever since the announcement of the EFSF is that in addition to onboarding contagion fears by transferring financial risk from the PIIGS to itself, Germany's ruling party, and particularly Frau Chancellor Merkel, has been on the receiving end of ever increasing popular anger at putting German wealth at risk in order to rescue lying, thieving countries like Greece and Italy, which have proven beyond a reasonable doubt, they will do none of the fiscal reforms demanded of them, yet promise the world in exchange for yet another bailout tranche, or more ECB-backstopped purchases of their debt (even Sean Corrigan would be proud of that sentence). Sure enough, today we get the latest confirmation that as national elections loom ever closer, as does the specter of a government crisis following the EFSF expansion vote some time in late September (it is fluid), the ruling CDU continues to take on water. Per Reuters: "Chancellor Angela Merkel's centre-right bloc suffered another defeat on Sunday in a regional election in Germany's poorest state, Mecklenburg-Vorpommern, with both her conservatives and their Free Democrat allies losing support. A first projection by the ARD network at 1615 GMT showed Merkel's Christian Democrats (CDU) falling to 24 percent from the 28.8 percent won in the sparsely populated state on the Baltic shore in 2006. It was the CDU's worst result ever there."

Despite Merkel's attempts to boost her appeal, the locals seem to no longer be as dumb as they are perceived:

The poor results in Mecklenburg-Vorpommern were a personal setback for Merkel, who campaigned heavily in the state of 1.6 million with nine appearances. Merkel's constituency in parliament is also located in Mecklenburg-Vorpommern.

And even as the leaders slowly lose all control, the opposition continues to gain:

The euro zone crisis loomed over the campaign ahead of a key vote in the Berlin parliament on euro zone bailout reforms in late September.

It has been a dreary year for Merkel. Two years before the next scheduled federal election, the CDU is also slumping in national polls -- in part due to general discontent over Merkel and over her hesitant leadership during the euro zone crisis.

The CDU and FDP have suffered a string of bitter setbacks in six state elections this year. The CDU lost control of two states -- Hamburg and Baden-Wuerttemberg -- it had long ruled.

The Social Democrats (SPD), which has ruled with the CDU in Mecklenburg-Vorpommer since 2006, rose to 36.8 percent from 30.2 percent. The SPD could continue the coalition with the CDU or switch to the Left party, which won 17 percent, or the Greens, which won seats in the state for the first time ever with 8.4 percent.

"We'll decide here what's best for the state," said SPD state premier Erwin Sellering when asked which of the three possible coalition partners he would pick. The SPD is in opposition in Berlin.

The far-right NPD also appeared to have won seats in the state assembly with 5.5 percent, just clearing the five percent hurdle, after they won 7.3 percent in 2006.

"There was an incredible smear campaign against us," NPD leader Udo Pastoers said in an ARD TV interview.

The poor results in Mecklenburg-Vorpommern were a personal setback for Merkel, who campaigned heavily in the state of 1.6 million with nine appearances. Merkel's constituency in parliament is also located in Mecklenburg-Vorpommern.

Yet another election defeat for the CDU will heighten nervousness among backbenchers in the Berlin parliament worried about their job security. Merkel's coalition faces a difficult vote on the euro zone bailout on Sept. 29 and there are already fears that not enough coalition deputies will back Merkel.

The Greens, riding high in national polls in the wake of the Japanese nuclear disaster, cleared the five percent hurdle in the state for the first time and now have seats in all 16 German states.

Naturally, none of this should come as a surprise: the trade off to imposing austerity and measures to fix the long-term viability will be a dramatic change in the political landscape. Yes, Merkel, Sarkozy, Berlusconi will all be gone in a cathartic sweep to remove the old system cancers, but the reality is that soon enough Europe will finally set off on the right path to long-term viability. 

Alas, that is much more than can be said about the US, which continues to dig in, and prepares to launch yet another idiotic episode of "easing" both monetary and fiscal, which will do nothing, but merely push the country ever closer to revolution.

 


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Sun, 09/04/2011 - 14:15 | Link to Comment Spitzer
Spitzer's picture

Who are they voting foir that isnt going to go for the bailouts ? Is Ron Paul running in Germany too ?

Sun, 09/04/2011 - 14:45 | Link to Comment Azannoth
Azannoth's picture

SPD/Grüne = hard core socialists

Linke = communists

NPD = fascist/communist

This is who is winning in Germany, and the OP says something about 'Europe will finally set off on the right path to long-term viability' lol

Sun, 09/04/2011 - 14:48 | Link to Comment Jack Sheet
Jack Sheet's picture

No. None of the remaining parties (SPD, Green, Left) has taken the least stand against the bailouts and have consistently avoided the issue. If anything, they are more pro PIIGS bailout then Murkle. If foreign observers think that a defeat of Murkle in some non-event state election means a reverse of the bailout policy then they are sufrfering a svere delusion.

Sun, 09/04/2011 - 15:25 | Link to Comment Spitzer
Spitzer's picture

Its certainly looks that way.

Not realy worth having in on ZH then

Sun, 09/04/2011 - 15:52 | Link to Comment Rynak
Rynak's picture

No. None of the remaining parties (SPD, Green, Left) has taken the least stand against the bailouts

http://www.youtube.com/watch?v=MjVlD0LEkTk

ORLY?

Sun, 09/04/2011 - 15:41 | Link to Comment Noah Vail
Noah Vail's picture

Master of the run-on sentence, the period-free scrivener stikes again. Gad, I wish I could read this stuff without getting a headache.

Sun, 09/04/2011 - 17:26 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Tyler Durden's multipolarity: it's not a bug, it's a feature.

Mon, 09/05/2011 - 10:54 | Link to Comment Lednbrass
Lednbrass's picture

Its actually quite rare that Tyler posts run on sentences, they are punctuated correctly. Long sentences are not run on sentences when properly punctuated but the linguistically challenged are often confused by this. 

Perhaps you could get him to agree to limit himself to sentences of no more then a dozen words comprised entirely of words containing no more then two syllables and six letters so that you dont become overloaded.

Sun, 09/04/2011 - 15:55 | Link to Comment Rynak
Rynak's picture

Answer: All significant parties of germany, including the "opposition" (which just as in the USA, isn't really "opposite") are in favour of the bailouts, and helped creating the current economic structure of the EU.... all except of one:

The "ron paul" of germany, comes from the (seemingly) opposite ideological corner: The socialists, which have opposed nearly all the shit the other parties approved in the last 10 years, with their frontman (your equivalent of RP) being Gregor Gysi.

Here's one example of him, addressing the current state of the EU, the bailouts, and the unsustainable structure of the EU:

http://www.youtube.com/watch?v=MjVlD0LEkTk

For those not understanding german, here are the key arguments from that vid:

- current policies of dealing with the EU crisis cannot work, because all they do is pushing the affected countries deeper into the debt-spiral.

- Austerity measures alone merely reduce buying power and tax-revenues, without fixing the root causes

- Bailouts don't address the issues of the unregulated financial market, but just make the taxpayers enrich banksters. Failing banks should be nationalized instead of simply bailout out. They may later be re-privatisized, but they should according to the "swiss model" first be nationalized, so that the state has full control over restructuring and reorganizing them, and possibly getting back some of the money lost from rescueing them.

- the import/export shism inside the EU, ensures the current outcome. The supposed gains of german record exports, are bought by impoverishing population and the importers.

- Proposed solutions: Strenghten the domestic markets of the PIIGS. Reduce interest rates for them in the shortterm (he also hints at at least partial defaults/debt restructuring). Regulate the banks (including banning hedgefonds and a tax on market transactions (the later would pretty much kill HFT). Germany needs to stop its export obsession and strenghten its own domestic market.

Sounds familiar?

Problem for his party ("Die Link") is that the party originated from the assimilated east germany (DDR), so they are popularily seen as communists, even though a good deal of the party members were among the opposition ("the rebels" if you want to call it like that) against the gov, when east germany fell. And so, no matter how much sense their speakers make, they face an uphill battle against the image of their origins.

Sun, 09/04/2011 - 17:14 | Link to Comment sun tzu
sun tzu's picture

Proposed solutions: Strenghten the domestic markets of the PIIGS. 

How do they propose to do that?

Sun, 09/04/2011 - 17:34 | Link to Comment Rynak
Rynak's picture

Most proposals i could find so far, are germany centric and banker-centric, and thus propose little about measures inside the PIIGS themselves. He mentions an existing "marshal plan", but i'm not familiar with it.

So, from how i understand this, his proposals mainly deal with germany (or rather, its megacorps and megabanks, ALL populations are screwed anyways by the current scheme) stopping to suppress the PIIGS, and less with actual proposals about how to support the PIIGS. Which may (unless the "marshal plan" includes amazing things), may hint at that his proposals merely "allow" the PIIGS to strive towards selfsustainability, without actually supporting them in this.

And to be honest, i see this as his party's weakness IF its arguments were taken seriously. While they do oppose the "suppression"-job which germany currently does, they lack offering actual solutions for the PIIGS themselves.... a bit like "let's just stop screwing them over, and their misdirected economy will fix itself".

Then again, if it were about me, i'd propose just that: "Okay, we'll stop screwing you. Get your stuff in order in N time, or face the consequences".

Sun, 09/04/2011 - 17:16 | Link to Comment Jack Sheet
Jack Sheet's picture

OK, your point is taken. Pity he has not been invited for a Spiegel Interview.

Sun, 09/04/2011 - 18:30 | Link to Comment Rynak
Rynak's picture

I'd welcome him and his party getting more press-coverage - not just for their reasonable arguments to get more pulic distribution, but also to reveal flaws in their arguments, so that they are forced to fix their "bugs".

As it is now, him and his party have lived in an environment that is both, a blessing and a curse: Representing the "losers" of the current ponzi scheme, and being a public outcast - which on the one hand allows him and them to voice politically unpopular views, but also leaves their arguments to low popular criticism.... thus enabling them to voice arguments that go against the stream, yet also exposing them their views to a low criticism and thus validity checks. I'd guess, if their were exposed to more public criticism, they'd be faced with going blindly socalism, or evolving to a party, that combines "collectivist" as well as "individualist" considerations... and that is where i stand: beyond "libertarianism" and "fascism".

Mon, 09/05/2011 - 06:23 | Link to Comment Barefooted_Tramp
Barefooted_Tramp's picture

@Rynak 9/5/2011 15:55

thks for the translation of this speech by Grgor Gysi, just a minor correction:

It is not talking about the "swiss model" to nationalize banks but the "swedish model".

Mon, 09/05/2011 - 00:56 | Link to Comment mcguire
mcguire's picture

there are two big reasons Merkel will never lose the election:

http://daddytips.com/wp-content/uploads/2009/04/angela-merkel-cleavage-3...

Sun, 09/04/2011 - 14:17 | Link to Comment spiral_eyes
spiral_eyes's picture

there's no way germany will accept having 133% of its GDP dedicated to paying goldman and j.p. on the piggie's bonds

and just as china is getting ready to launch the gold-backed RMB, look forward to the geldmark coming to a europe and a PIG near you, bitchez

http://azizonomics.com/2011/09/03/chinas-monetary-endgame/ 

Sun, 09/04/2011 - 14:41 | Link to Comment Marco
Marco's picture

If China goes with a gold and the US economy collapses they will face the same problem as the US did under Nixon ... their foreign oil consumption will simply eat away their gold reserves.

Sun, 09/04/2011 - 15:43 | Link to Comment DosZap
DosZap's picture

Marco @ 14:41,

You may be correct, but I do not think so.

China has been VERY busy making friends, and buying /leasing properties globally to support their growing poulation and infrastructure/food needs.

They have been using their 3T + Cash ( this is liquid funds) not counting Treasuriespiggybank to make sure their future is FAR more secure than any others.

Rest assured OIL is a HUGE part of their investments.

Sun, 09/04/2011 - 19:51 | Link to Comment Marco
Marco's picture

Most oil is owned by governments. Of course some countries do get scammed into defacto selling their oil fields, but that doesn't generally last (look at South America, or the Middle East before them). In the end you can only buy oil, but not fields ... the private industry is small time in oil.

Sun, 09/04/2011 - 14:52 | Link to Comment bakken
bakken's picture

Hell,  I have  a drawer full of a collection of "GOLD BACKED" Chinese reserve Notes from 1945-1949.  Very pretty, very crispy too. Maybe nominal $7 Million  face.  

 

Chinese GOLD Fiat????  Even if it is Communist now, give me a break!  We've checked Pandas and even those come in as 23K, not .999 Fine.

Sun, 09/04/2011 - 16:43 | Link to Comment The Deleuzian
The Deleuzian's picture

Pandas.. whether gold silver or platinum have to my knowledge always been .999 in purity.  There are fakes for some of the rarer pandas but only in silver.  It's just to hard to fake gold or platinum and most collectors are wise to the fakes out there.

Sun, 09/04/2011 - 17:18 | Link to Comment Rynak
Rynak's picture

China isn't even a communist nation anymore. The only thing popularily called "communist" about them, is a single-party gov (read: dictatorship) and commie propaganda. If you however look at the actual structure of china, it is much closer to "popular capitalism" + "quasi-dictatorship".... which really isn't so different to the USA.

What mainly distinguishes them - besides of culture and mentality - is that it is a net exporter, while the USA is a net importer - combined with all the usual longterm aspects which that will bring - among them, paying the importers to buy their own exports.

China isn't a "true" communist state. For starters, if they were, they wouldn't create bogus-jobs just to keep their population employed, but instead realize, that communism doesn't need to create artificial jobs, to sustain peoples life currently not employed on the "public market". Whenever a supposed "communist"-nation creates bogus jobs, to fight the job anomaly, i just laugh my ass of: No, you're not communist. You at best are the worst of capitalism AND communism, without benefiting from any advantages of BOTH capitalism and communism. You just plain suck, and that's it. I think, we really need a new economic term here - crapocracy or smth like that - it applies to most nations on the planet right now - the worst of the worst of all ideologies, with none of the best of any of them.

Sun, 09/04/2011 - 14:24 | Link to Comment RSloane
RSloane's picture

 I have no idea what the path will be for the EU to "fix its long-term viability". I can't begin to guess what will happen to the PIIGs. We can all speculate and read the occasional tea leaf but so much is hinged on the German parliment's vote. I look at DER SPIEGEL and what I am impressed with is how flexible they've been in being able to determine what's going on in the hearts and minds of their parliment members. Flexible as in if you wait long enough, their opinion will change.

Sun, 09/04/2011 - 15:33 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

Sometimes the answer is that there is no aswer that anyone will like.  This "rubber band" has been stretched about as far as it can go, so now there are 3 choices: 1) Keep stretching it until it breaks, 2) Let it snap back, or 3) This one is my favorite, The rubber band will be kept stretched at its current position where things will just rot until they break.

Merkel is just another economic criminal and the people of Germany see her for who she is.

Sun, 09/04/2011 - 14:26 | Link to Comment scratch_and_sniff
scratch_and_sniff's picture

Got to agree with those sentiments, lying thieving bastards, such an obvious and blatant slap in the face, and under any other circumstances the taps would surely be turned off immediately...if the Germans take this shit lying down, they are definitely up to something.

Sun, 09/04/2011 - 14:45 | Link to Comment RSloane
RSloane's picture

I don't know if they will or not. What's your guess?

Sun, 09/04/2011 - 15:36 | Link to Comment scratch_and_sniff
scratch_and_sniff's picture

err, well Merkel has put her career on the line for whatever is happening, so my guess is that they are trying the old fiscal pincer movement, we will find out on the 23rd regardless, if the changes to the EFSF are pushed through, then in the longer term we should see the German commitment to a Eurobond/taxation without representation/surrender of peripheral sovereignty to the 4th reich.

Sun, 09/04/2011 - 15:49 | Link to Comment DosZap
DosZap's picture

S & S @ 15:36,

 we will find out on the 23rd regardless

Damn, death by a thousand cuts..........................when will it fold!!!!.

I think a class of 6th graders could solve this mess just as fast as the adults. 

Sun, 09/04/2011 - 14:45 | Link to Comment disabledvet
disabledvet's picture

Apparently Frau Merkel was rocking out to the theme of "lying, cheatin' stealing" while she was "stumpin." I got a line on the soundtrack they were jammin' to on the "Frau Merkel Express" before she'd jump up on the podium and "spread the butter thick and creamy" on her fanatical supporters:

http://www.youtube.com/watch?v=4aj_vABphAo&feature=player_detailpage

apparently there were a few complaints of the Zeppelin in flames however.

Sun, 09/04/2011 - 14:38 | Link to Comment vast-dom
vast-dom's picture

I promise from this day forth to be upstanding ethical entity if you would only so kindly extend loans tomorrow that may enable my thieving duplicitious policies of yesterday to continue into the foreseeable future.

 

I'll pay you twice tomorrow for that fuck you sandwich you "advance" me today.

Sure thing. Problem solved.

Sun, 09/04/2011 - 14:44 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

Israel down 4.4%...German voters say no again....hmmmmm

 

Futures open in 3...2...

Sun, 09/04/2011 - 14:49 | Link to Comment Precious
Precious's picture

The problem with gold is that it's just too expensive to melt into bullets.

Sun, 09/04/2011 - 14:50 | Link to Comment Miss Expectations
Miss Expectations's picture

In a bid to effect change, while doing as little real work as possible, I propose a movement whereby every American change their party affiliation to Independent.

Sun, 09/04/2011 - 14:58 | Link to Comment plocequ1
plocequ1's picture

Im going to order some chicken Lo mein. Life is good.

Sun, 09/04/2011 - 14:53 | Link to Comment digalert
digalert's picture

I had thought that Merkel had the balls er uh, huevos. But nooo, she's clearly had a late night visit from the criminal bankster cartel, which stuffed her stockings with loot. Another bureaucrat, bought and paid for.

Sun, 09/04/2011 - 14:59 | Link to Comment Corn1945
Corn1945's picture

The Euro could actually be a half decent currency if they throw the PIIGS out.

The dollar is the one that has the big problems. As long as I hear "We have to spend more so we don't go bankrupt" I will be long gold/silver. I really don't hear that kind of non-sense out of the Euro zone.

Sun, 09/04/2011 - 15:16 | Link to Comment unky
unky's picture

mecklemburg vorpommern is unimportant nazi-land anyway.

they have no industry, highest unemployment and lowest income in germany, quite unimportant

Sun, 09/04/2011 - 15:49 | Link to Comment PY-129-20
PY-129-20's picture

They have a beautiful landscape. Many young people moved away from MV. Your analysis is correct. Unfortunately. NPD lost some votes, but still is present everywhere. I wouldn't name it a "nazi-land" though. That would mean the NPD is in completely in charge and controlling every aspect of it. No, fortunately not, but they are very present there and try to gain more influence. It didn't work this time.

What I find more shocking - more and more people decide not to vote. I can understand this. I am frustrated myself when I look at my options (I have no real option to vote against EU-bailout packages - just the LINKE - and I don't like to vote for them.)

 

Mon, 09/05/2011 - 11:06 | Link to Comment Lednbrass
Lednbrass's picture

You sound like the German version of an urban New York twit talking about the South.  Look down your nose as long as you like, I have a feeling that if things get really ugly they will be able to kick the crap out of you enlightened metrosexuals at five to one odds at least.

Sun, 09/04/2011 - 15:20 | Link to Comment jhm
jhm's picture

Who cares about this god-forsaken state up there at the polish border and the Baltic Sea? That Land is as completely irrelevant for anything and everything going on in Germany as can be.

Nothing will change.

(/rant on) If Merkel would go down tomorrow the Social Democrats and the Greens would jump in, so inconceivably eager to bail out the rest of the world and to please each and every one on this planet that one can only wonder if there is any brain left in anyone in these parties. It seems to me that we have a rather large und uncurable problem in Germany, which has a lot to do with that austrian private who became the Führer, consequently then with World War II and the last 66 years, in which we have been brainwashed by our dear beloved allied victors so completely in getting told how terrible, ugly and inexplicable evil we have been that today we all are utterly happy to become the paying fool for the rest of the globe, as long as we get back the illusion of being a respected part of the planetary family. (/rant off)

Or they have a european financial domination peace and happyness masterplan in Berlin so utterly clever and cunning that the world will be flabbergasted in the end. I doubt it, seriously, considered how "brilliant" our political class looks these days. But who knows ...

People here are as asleep as everywhere else, much more interested in their status symbols and their fun as to realize how dire their situation is. The awakening will be bitter and terrible. The few people who are awake are ... to few. Nothing will change. No german masses on the streets. No revolutionary movement to prevent the gouvernment ruining the country. Only the coice between the devil and beelzebub, pestilence or cholera. Nothing will happen. No political alternatives existing, no alternatives even in sight, nada. The 29th of September will come and go and the boring parliamentarians in Berlin will let the law regarding the EFSM through on the nod and thereby put another cascet nail into the german Basic Law. When the people will finally wake up it will be too late to complain.

Sun, 09/04/2011 - 15:34 | Link to Comment disabledvet
disabledvet's picture

he was a corporal not a private. quite good with the paint brush as well. Let's have a look:

http://www.youtube.com/watch?v=mALbFREo-bk&feature=player_detailpage

I love Churchill but I think we have a winner when it comes to oil and canvas:

http://www.youtube.com/watch?v=0Mej6Xrk4Xw&feature=player_detailpage

Still...the PM's got a way with color.

I'm still looking for the "Stalin Art." Get back to you on that one. "Rhymes with stolen" is all i've found so far.

Sun, 09/04/2011 - 16:32 | Link to Comment FinalCollapse
FinalCollapse's picture

Next time you enter Poland - ask for proper visa. Just saying....The problem was not one Austrian - it was millions of enthusiastic Germans invading, killing, and stealing all over Europe.

Sun, 09/04/2011 - 17:16 | Link to Comment PY-129-20
PY-129-20's picture

Yes. Unfortunately. But there will be no next time. You've not mentioned how it ended. And that's why everything has changed and there will be not a next time (okay, I don't know what happens in a thousand years from here. Let's hope the best.)

About Poland. I must admit I am not a fan of Poland. Made some bad personal experiences. I know this has nothing to do with Poland or the people from there. Some of you may have probably made the same experiences with German people. It doesn't matter.

It was not the first time in the history of Poland. It was always surrounded by nations that wanted a part of it. Austria-Hungary, Russia, Prussia, Germany, Russia again. I can understand their mistrust and their attitude.

Sun, 09/04/2011 - 15:22 | Link to Comment jhm
jhm's picture

Who cares about this god-forsaken state up there at the polish border and the Baltic Sea? That Land is as completely irrelevant for anything and everything going on in Germany as can be.

Nothing will change.

(/rant on) If Merkel would go down tomorrow the Social Democrats and the Greens would jump in, so inconceivably eager to bail out the rest of the world and to please each and every one on this planet that one can only wonder if there is any brain left in anyone in these parties. It seems to me that we have a rather large und uncurable problem in Germany, which has a lot to do with that austrian private who became the Führer, consequently then with World War II and the last 66 years, in which we have been brainwashed by our dear beloved allied victors so completely in getting told how terrible, ugly and inexplicable evil we have been that today we all are utterly happy to become the paying fool for the rest of the globe, as long as we get back the illusion of being a respected part of the planetary family. (/rant off)

Or they have a european financial domination peace and happyness masterplan in Berlin so utterly clever and cunning that the world will be flabbergasted in the end. I doubt it, seriously, considered how "brilliant" our political class looks these days. But who knows ...

People here are as asleep as everywhere else, much more interested in their status symbols and their fun as to realize how dire their situation is. The awakening will be bitter and terrible. The few people who are awake are ... to few. Nothing will change. No german masses on the streets. No revolutionary movement to prevent the gouvernment ruining the country. Only the coice between the devil and beelzebub, pestilence or cholera. Nothing will happen. No political alternatives existing, no alternatives even in sight, nada. The 29th of September will come and go and the boring parliamentarians in Berlin will let the law regarding the EFSM through on the nod and thereby put another cascet nail into the german Basic Law. When the people will finally wake up it will be too late to complain.

Sun, 09/04/2011 - 15:31 | Link to Comment TK7936
TK7936's picture

Are there any British online Betting Agencys dealing with Eurozone speculations ?

Sun, 09/04/2011 - 16:26 | Link to Comment Sudden Debt
Sudden Debt's picture

HAHAHA!! I LOVE IT!!!

BRING ME BACK MY OLD CURRENCY AND DROP THAT EURO!!!

 

Sun, 09/04/2011 - 16:42 | Link to Comment Highrev
Highrev's picture

They're going to make an example of Greece.

Sun, 09/04/2011 - 17:27 | Link to Comment Use of Weapons
Use of Weapons's picture

I was going to link to the editorial piece in the Telegraph about the Tory party in the UK falling apart in Scotland, but it turns out:

Turkish hackers just nuked it. Here's a BBC link instead - http://www.bbc.co.uk/news/uk-politics-14780207

 

Telegraph is down, looks like Monday 4th will be an interesting day.

Update - currently down:

www.telegraph.co.uk

www.theregister.co.uk

 

Probably more to come - seems to be targeting UK media sites as we speak. Looks like a main ISP in Israel as well.

Sun, 09/04/2011 - 17:40 | Link to Comment gwar5
gwar5's picture

I've said all along the Germans don't have the stomach to backstop the EU and all it entails including, ultimately, enforcement from lazy Greeks and promiscuous Italians to cut their budgets and pay their bills. It's a conflict jjust waiting to happen.

 

And by Germans, I mean the German people. The politicians always want to expand their power, but the people are once again ahead of the pols on the economic IQ curve. I'm raising my Labor Day Weekend beer stein to the German people as I type. 

 

 

Sun, 09/04/2011 - 20:43 | Link to Comment how to trade ar...
how to trade armageddon's picture

There must be a "dump Merkel" movement brewing amove the CDU's conservatives. She's fast becoming a lame duck.

Anyway, this defeat just ups the pressure in the game of Greek chicken. This round will definitely be hairier than the last, and might turn out to be the final.

http://how-to-trade-armageddon.com/2011/09/04/playing-greek-chicken/

Sun, 09/04/2011 - 21:04 | Link to Comment Joy on Maui
Joy on Maui's picture

I perused Spiegel real quick and found that the topic du jour is the establishment of a core and a separate, rather pig-ish Euro zone.  Rumor has it that Merkel is leaning in favor of this now where she was much against such a year or so ago.

Mon, 09/05/2011 - 07:48 | Link to Comment docj
docj's picture

the reality is that soon enough Europe will finally set off on the right path to long-term viability

Really? Because the Euro-statists who created the EU will be all in favor of letting the richer nations toss the poorer under the bus? Really?

It's some delicious schadenfreude to watch Frau Merkel get slapped around (albeit on her weakest territories, electorally) but you can't honestly believe the European left will be in any way more serious about "long-term viability", or even different in any notable way.

Mon, 09/05/2011 - 08:15 | Link to Comment shacai
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