• BullionStar
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Barkel Press Conference Begins... And Ends

Tyler Durden's picture




 

The much anticipated press conference between Merkel and Barroso, hence Barkel, in which nothing of any substance will be announced, has begun. Rolling headlines as we get them:

  • MERKEL SAYS WE NEED MORE EUROPE, NOT LESS IN EURO-ZONE (sounds familiar)
  • MERKEL SAYS WILL DISCUSS EUROPEAN SUPERVISIONS OF BANKS AT EU SUMMIT, BANKING SUPERVISION IS A MID-TERM GOAL
  • BARROSO SAYS WILL PUSH FOR BANKING UNION AT THE COMING SUMMIT
  • MERKEL SAYS EU NEEDS ANSWERS SOON ON POLITICAL UNION
  • MERKEL SAYS DISCUSSING EU BANKING SUPERVISION WITH BARROSO
  • BARROSO SAYS EU SHOULD DISCUSS ELEMENTS OF 'BANKING UNION' -> we agree to hold another conference at a future time

And... that's it folks. Proceed to the egress.

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Mon, 06/04/2012 - 13:48 | 2492657 slewie the pi-rat
slewie the pi-rat's picture

i'll pass, great ass'd lass/laddie

tyler can blow marcFaber if he needs money;  the trollZ will pay-per-spew

tyler's weekend posts were xlnt, btw, due to how fuking ripped he was and i don't mean those abs, BiCheZ!

and if people don't understand what is meant by banking union here, they shoulda been on zH, paying attention over the weekend when marioECB spake of the 4squid-led planners who would lead the EU into abject poverty {while enriching their owners @ (you guessed'er, chester!) the FED}

ps:  the checks are in the mail...  and they are gonna clear...  angela's goose is cooked and they are just waiting to fork her and her nation, 4evah!

Mon, 06/04/2012 - 14:02 | 2492710 Acorn10012
Acorn10012's picture

Yes, some of the avatars are spectacular.

Merkel trying to get the best deal she can...great game of chicken on display. Whatever the compromise, I suspect Merkel will get something significant in the deal.

Mon, 06/04/2012 - 13:23 | 2492533 sabra1
sabra1's picture

speaking of which, i'm hosting dinner tonite. what goes good with face?

Mon, 06/04/2012 - 13:35 | 2492605 fuu
fuu's picture

Fava beans?

Mon, 06/04/2012 - 17:35 | 2493625 Overfed
Overfed's picture

And a nice Chianti.

Mon, 06/04/2012 - 22:59 | 2494662 StychoKiller
StychoKiller's picture

Finger sandwiches?

Mon, 06/04/2012 - 13:14 | 2492480 Dr. Kananga
Dr. Kananga's picture

Remember the "secret plans" German leadership had up their sleeve to win WWII in 1945?

Neither do I. But they did talk about it a lot. Everyone knew they had one. They had to have one.

Mon, 06/04/2012 - 13:14 | 2492483 Colonial Intent
Colonial Intent's picture
Give a man a gun and he can rob a bank, give a man a bank and he can rob the whole world......
Mon, 06/04/2012 - 13:28 | 2492563 pods
pods's picture

Only bested by the quote about the Camden crack head with a cordless sawzall.

pods

Mon, 06/04/2012 - 13:19 | 2492488 Aquiloaster
Aquiloaster's picture

Merkel doesn't even need to write new meeting notes; regurgitate the same bullshit again hoping it works better this time.

Mon, 06/04/2012 - 13:23 | 2492536 ThirdWorldDude
ThirdWorldDude's picture

We can hope they save on paper and use the same old scripts...

On a second thought, can anyone bring them a fucking teleprompter?

Mon, 06/04/2012 - 13:17 | 2492497 Fred Hayek
Fred Hayek's picture

Instead of Barkel, how about Moroso in recognition of how all EU countries should feel?

Mon, 06/04/2012 - 13:18 | 2492503 Miles Kendig
Miles Kendig's picture

Until Germany starts talking about its national wealth as European wealth one must question their vision of a fiscally united Europe.

Mon, 06/04/2012 - 13:35 | 2492602 Nobody For President
Nobody For President's picture

...Until Germany starts talking about its national wealth as European wealth... 

 

And that is going to happen when? hahahahahahaha

Mon, 06/04/2012 - 13:39 | 2492611 Miles Kendig
Miles Kendig's picture

When Europe is under complete German control....

Until then Angela will do her best at paying homage to her neighbors generally and the new French president specifically

http://www.youtube.com/watch?v=DiptV4Oiuo0

Mon, 06/04/2012 - 13:20 | 2492507 slaughterer
slaughterer's picture

I guess Eurobulls still have Wednesday and the Super Mario Draghi show to hope for. 

Mon, 06/04/2012 - 13:20 | 2492508 Joshua_D
Joshua_D's picture

Well, I feel much better. When do we get Barkel t-shirts?

Mon, 06/04/2012 - 13:25 | 2492548 Satan
Satan's picture

When you open an account at Bankia.

Mon, 06/04/2012 - 13:20 | 2492510 ebworthen
ebworthen's picture

What, is she going to ask Russia to join the EU?

Fastest "highly anticipated" press-conference in a while; getting harder for her to keep a straight face?

Mon, 06/04/2012 - 13:20 | 2492511 junkyardjack
junkyardjack's picture

She forgot to mention anything about printing or Eurobonds.  I'm sure they will be back on in a few minutes to announce those...

 

S&P 500 to test 1250 in 3....2....1....

Mon, 06/04/2012 - 13:20 | 2492515 blindman
blindman's picture

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/3_The...
The Real Reason Why Global Markets Are Melting Down
.
With global stock markets in turmoil, gold on the move, and panic in Europe, today Michael Pento, of Pento Portfolio Strategies, writes exclusively for King World News to let readers know exactly why markets are melting down. Here is what Pento had to say about the situation: “Most investors and market pundits continue to misdiagnose the reason behind the worldwide economic malaise. The underlying problem isn’t ‘uncertainty’ or any other platitudes Wall Street and politicians like to offer. The truth is that massive sovereign debt defaults (if central banks allow them to be written down honestly) are very deflationary in nature.”

"The carnage all began when Irish and Southern
European banks became insolvent due to non-performing real estate assets. Then the sovereigns borrowed so much money, in order to bail out the banks, that their economies have become insolvent. Now banks find themselves insolvent once again … this time because they own the debt of bankrupt countries that were shoved down their throat by the ECB’s LTROs.

So we now have a situation where insolvent nations are trying to bail out insolvent banks by proposing to borrow more money, which will cause the countries to become even more insolvent. Then, of course, banks are asked to lower their country’s borrowing costs by buying more of the debt issued from insolvent nations. Doesn’t that sound like it will work out well?

If you can believe it, that is the proposed magic bullet to save Europe. Once it fails, look for the ECB, Fed and BOJ to launch another massive money printing spree. Each and every worsening piece of economic data brings us closer to that eventuality. That is the reason why gold soared $65 per ounce on Friday. Gold is signaling the helicopters are just over the horizon. " ...

Mon, 06/04/2012 - 13:25 | 2492517 Dr. Engali
Dr. Engali's picture

 

MERKEL SAYS WE NEED MORE EUROPE, NOT LESS IN EURO-ZONE

 

What was it Hitler said before he invaded Russia? We need more elbow room?

Mon, 06/04/2012 - 13:29 | 2492569 djsmps
djsmps's picture

Lebensraum

Mon, 06/04/2012 - 13:46 | 2492645 walküre
walküre's picture

Endlösung

Mon, 06/04/2012 - 13:22 | 2492523 ArrestBobRubin
ArrestBobRubin's picture

Barosso's Twin Pillars of True Globalist Genius

-"global warming"

-"banking union"

Can't we please release The Cannibal and give him Mr. B's scent?

 

Mon, 06/04/2012 - 14:47 | 2492907 azzhatter
azzhatter's picture

Barosso and Farage in a cage match

Mon, 06/04/2012 - 13:26 | 2492531 skepticCarl
skepticCarl's picture

Since it is the Banksters' best interests to keep the Euopean banking system working, I expect that they will find a way to cobble some sort of bank union.  It will be complex, opaque, nearly unregulated, and naturally, be backstopped by the tax payers in the Eurozone.  They will even find a way to end-run Germany's objections to Eurobonds, if it suits their purposes.  I have complete faith in Banksters.

Mon, 06/04/2012 - 13:26 | 2492553 bbq on whitehou...
bbq on whitehouse lawn's picture

Eurobonds will have an "opt-out" feature. Germany will be the only one able to opt out everyone else will be forced to swallow the bonds.

This fits with the kick the can to stupid land and allows for the euro to be saved. Yay.

Mon, 06/04/2012 - 13:28 | 2492561 Gigantor
Gigantor's picture

The EU is about 12 months behind the times and each of these "meetings to discuss future possibilities" do nothing but confirm that.

The problem is to much debt, to many insolvent banks, to much spending.

 

No plan put forward does anything to else even one of the above problems. Not even close.

 

Mon, 06/04/2012 - 13:30 | 2492575 NEOSERF
NEOSERF's picture

You know things are coming unglued again when the word "summit" starts getting thrown around again which basically means...please don't crash the market while we try to throw you some essentially worthless headlines about throwing good money after bad.

Mon, 06/04/2012 - 13:36 | 2492609 williambanzai7
williambanzai7's picture

And so life imitates art...here Fido, have a EURO Biscuit...

Mon, 06/04/2012 - 13:44 | 2492639 walküre
walküre's picture

They know they're fucked. The BIG one is coming.

Germany is surrounded by armies of bankers and European politicians that want BLOOD from every German man, woman and child.

Let the BLOODLETTING commence - AGAIN.

Germany has ONE CHANCE. That chance is to PULL OUT of all treaties with the UK, US, Zion FIAT cabal and form an axis with Russia and China.

Thanks for playing everyone. Come back when you can afford to buy the Mercedes, BMW and Audi with REAL money.

Mon, 06/04/2012 - 13:55 | 2492679 Centurion9.41
Centurion9.41's picture

Ahhhh yes, go historical with the Jew/German angle and ignore the reality & fact that Germany effectively gave Israel subs capable of throwing nukes from a place Arab states & terrorist organizations will NEVER be able to touch....

The historical significance of "nazi" Germany being the provider to Israel of the ONLY untouchable nuke delivery system known to man, is lost on the "genius" of candy-@ss 99%ers who think their prowess on X-Box translates to their anarchist libertarian fantasies.

Mon, 06/04/2012 - 13:50 | 2492667 markar
markar's picture

BARROSO SAYS STRUDEL WAS EXCELLENT

Mon, 06/04/2012 - 14:14 | 2492774 No Euros please...
No Euros please we're British's picture

But, but you're forgetting the "secret" EU meeting. You know the one where Merkel agrees to everything and everything gets fixed and everyone sits around smoking hopium and lives happily ever after. The one the European markets have rumoured for this week, or sometime soon(ish).

Mon, 06/04/2012 - 14:15 | 2492781 Problem Is
Problem Is's picture

Euro-Ponzi:

"MERKEL SAYS WE NEED MORE EUROPE, NOT LESS IN EURO-ZONE"

Merkel: Classic Euro-Amway...

Mon, 06/04/2012 - 14:49 | 2492913 azzhatter
azzhatter's picture

she is comparing Barosso's schlong to Sarko- we need more

Mon, 06/04/2012 - 14:45 | 2492889 ArrestBobRubin
ArrestBobRubin's picture

"MERKEL SAYS WE NEED MORE PLUTONIUM, NOT LESS IN EURO-ZONE"


Mon, 06/04/2012 - 14:44 | 2492892 ivana
ivana's picture

Uuuuuuuuuuugh !

Full scale tyranny coming to EU citizens ... banksters will offer Merkel something she (and German bankster group) cannot refuse and than ... by by by democracy and normal living

Mon, 06/04/2012 - 15:31 | 2493069 TheTwoJohns
TheTwoJohns's picture

Standing on the verge of cliff
Embracing longtime horizon

I jump off and fly
In the Southeast direction

Having my favorite red shorts on
Having red parachute

Ready to hit the air

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