Behold The New Anschluss: ECB's Paramo - "Prepare To Give Up Significant Sovereignty"

Tyler Durden's picture

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transaccountin's picture

After reading this and the previous post on the eurobonds I feel ill.

Honestly this entire thing is sickening and nowhere near a solution; rather it reminds me of World War I and the stupid schlieffen plan - once you go down the rabbit hole there's no coming back.

We're surely approaching a police union.

sabra1's picture

you, you have insulted my avatar!!!!

sqz's picture

I think this is a great post and it has a consistent message. Thank you, ZH, for passing it to us in full!

Michael's picture

Trickle down tyranny at its finest, because trickle down economics didn't work, or did it?

Kayman's picture

I don't believe Germany has any lust for domination over the rest of Europe.  Megalomania didn't succeed in the past and it will not succceed in the future.

Europe has to go back to a Common Market and dump the Common Currency.

jeff montanye's picture

imo you are right on both counts.  

but to clarify, whoever is seeking dominion over the piigs without bloodshed is too late.  oh, the poster meant without shedding their OWN blood.  i see.

uhb's picture

Ha... Germany wins World (Financial) War 3.....the third try is lucky ;)

Bendromeda Strain's picture

Kayman - I believe the European megalomaniac has yet to appear on scene. Let the mice lay the groundwork and the serpent only needs to take up the reins at the right time. Define success and I will tentatively agree to your second point. Your third point is of course correct but Europe is currently controlled by egomaniacs who refuse to admit failure. They would rather submit to the megalomaniac.

economics1996's picture

Will the Russians pick a fight or China?

transaccountin's picture

The ECB should act as the backstop, but limit it only to rolling over debt, NOT for creating new debt. If a country has 5 Billion in Euros of an existing bond coming to maturity, the ECB should act to backstop this 5B only, but not to allow for additional sales to provide for day to day operations of these governments. Those costs need to be bore by the tax payers of the respective countries.

Schmuck Raker's picture

A Russian invasion may be a far cry better than what the Europeans are inflicting on themselves these days.

Kopfjager's picture

So it appears ze Fourth Reich finally conquered Europe by fighting like Jews.  Oh the irony.  

jeff montanye's picture

and the israelis are, too slowly, learning the limitations of the blitzkrieg and the occupation.

Ethics Gradient's picture


That is all.

Sudden Debt's picture

In the good old days it was: "He who pays diner get's laid"...

looks like...



Zero Govt's picture

"We cannot completely delegate governance to financial markets. The euro area is the world’s second largest monetary area. It cannot depend solely on the opinions of ratings agencies and markets. It needs economic governance arrangements that are preventive and linear." 

These Marxist morons are truly delusional

It was "economic governance" that got these fuking retards into the position they're in. It was 'Spend, spend, spend' with debt, debt, debt that paddled them up Shit Creek in the first place

Let's suspend the market, let Govt take over the whole show.. the EC/ECB/EU were always aiming for Soviet Russia anyway, they are to a man Communist cretins anyway

EUSSR here we come

Transformer's picture

You should look up the words-- communist, fascist, capitalism, socialism, democracy, republic.  In fact, study these terms, until you understand what they mean, and can use each in a meaningful paragraph.  I sense that your heart is in the right place, but, once you understand what these words mean, then you will be able to post here without sounding like a moron. 

There are several different ways of organizing the relationship of economics to politics.  I am constantly amazed by the people who seem to know only two, and thus put everything they see into one or the other.

agent default's picture

You really don't have a fucking clue, do you? 

Zero Govt's picture

you're no doubt using the academic descriptions for fascist, communist etc (they all equal parasite BTW)

but do teach me, i don't like to be called a moron on a thread without a fuller explanation


robobbob's picture

fascist, socialist, communist

I know what those words mean, and I leave the navel gazing and how many angels on a pin head to the eggheads

the iron fist a slavery is still an iron fist, with, or without, velvet glove, color not withstanding


agent default's picture

It will  be EUSSR.  There is no way the people will put up with this crap for long.  From now on, whenever there is an election in an EU country, eurosceptic parties will gain strength and momentum.  No way these Eurocrats will allow anything like that interfere with their pet project.  They will crack down, violently, ruthlessly, and without even a pretense of an excuse on all fronts.  I for one doubt there will be elections in some EU countries for a long time to come.  Forget about democracy, Europe is now run by a bunch of self righteous, incompetent , who didn't see it coming, when it came they did not know what it was, but now have the solution to whatever it is lunatics,  from East to West and from North to South. It is over in Europe.  Truly over.  I just hope something happens and this scum get their teeth kicked in, literally.

Zero Govt's picture

we're all going Greek

nothing like some street theatre to keep us warm this winter

Teamtc321's picture

"It was "economic governance" 

That got the entire globe in this shit storm again. 

jeff montanye's picture

imo the global shitstorm was the result of poorly regulated and poorly run banks which bought control of government so they could remain poorly regulated and poorly run rather than be bankrupted as a freer market would have made them.  

bad capitalists and bad socialists, working together for the lesser good.

ffart's picture

EMU to eurozone countries: Let's not turn this rape into a murda'

Sudden Debt's picture

In this gangbang, you don't wanna stand in front.

Better be at the end of the line....


Zero Govt's picture

or better still in a country that isn't being ruined by Big Govt macro and micro (mis)management

...i'm having trouble thinking of one!

ffart's picture

Maybe Uruguay? Their motto is "Liberty or death" of course they're right next to Brazil...

Zero Govt's picture

Thanks, you've given me some homework to do now  ;)

sabra1's picture

at least this won't affect canadian real estate!

sabra1's picture

hey! i know, what about a REFERENDUM?

Sudden Debt's picture

Yeah... I just did one and I decided never to do it again.


Ghordius's picture

You included your wife in your referendum? AGAIN?
You know to what this leads...

Manthong's picture

Gee, makes sense to me.

After all, if your country owes a lot to the international banking conglomerate, isn't it proper to surrender your sovereignty and your freedom until you pay off your debt under their terms?

Kopfjager's picture

This is the price you pay for believing it is your right to retire at the age of 20 with full benefits, regardless of how much debt your nation has to accrue in order to finance that "right." 

Gubbmint Cheese's picture

"You sure have a pretty mouth" (Germany to the rest of the EZ)

jeff montanye's picture

but with surprisingly painful teeth.

Mike2756's picture

Not going to happen.

gniuz's picture

Being forced into giving up sovereignty without solving the EUR problem will eventually lead to war..

Pretorian's picture

When you have EU press conference with 3 head of states and no english speaking person can understand it then everything else is just desperate attempt. Bass said "Pope German, Banker Italian.....mama miaa

Ghordius's picture

I wonder how they can even think like human beings if they don't speak English...

JR's picture

Demand: “Prepare to give up significant sovereignty.”

Answer: “We’re not going to do it.”

Zero Govt's picture

you don't think they'll let people vote on it?

Papadickhed just breathed the words 'democratic vote' in the EU and he was toppled faster than a lightening bolt!

JR's picture

When the exits begin to close history shows that voting, fortunately, is not the only way. Ghandi did not transform India by voting, or by revolution.

Kopfjager's picture

As I understand it, there's no way for citizens of EU members to vote on such a thing.  Anyone know who has the power to put such a thing into practice?  

jeff montanye's picture

some light is cast here on the ecb and its current limitation/possible future choices for change:

imo the twentieth century history of europe makes war less likely and democratic opposition more likely.

especially during economic dislocations, where there is a strong and lasting popular will, sufficiently ambitious politician often find a way.

Ghordius's picture

Are you serious? There is a thing called Parliament,
It makes other things called laws.
What about the political party you vote for? Did you ever vote?

Trying to Understand's picture

Are you 'serious'??? Any Member of the EU, whether governed by a Parliament or other body is only allowed to make the laws it is told to make by the UN... via the EU, whose sole STATED PURPOSE is to implement UN Treaty Laws, bit by bit, piece by piece. Anything outside of that mandate is forbidden and will be penalized in one form or another.

and yes, it is here in the good ol' USA too: