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Euro Soars On Merkozy Announcement Of Full Agreement... But No Euro Bonds - Live Press Conference Webcast
Here come the latest headlines from the Sarkozy-Merkel press conference:
- SARKOZY CITES COMPLETE AGREEMENT WITH GERMANY REACHED
- FRANCE, GERMANY SEEK TO PREVENT REPEAT OF CURRENT CRISIS
- FRANCE, GERMANY WANT `NEW TREATY' FOR EU
- AUTOMATIC PENALTIES BACKED FOR BUDGET VIOLATORS, SARKOZY SAYS
- SARKOZY SAYS PREFERENCE IS FOR TREATY AMONG 27 EU COUNTRIES
- EUROPEAN MONETARY FUND BACKED, SARKOZY SA
- SARKOZY SAYS NO COMMENTS TO BE MADE ON ECB
- CRISIS MUST BE STOPPED TO PRESERVE EUROPE, SARKOZY SAYS
So now all the two European heads have to do is convince the rest of Europe that abdication of national sovereignty to Merkozy is in everyone's best interest. And what would a European announcement be without a plan to plan:
- REINFORCED IMF ROLE SOUGHT, SARKOZY SAYS
Regardless, EURUSD up 40 pips on the news. For now.
And now back down on the following kicker as it seems the Eurobond ex Machina is once again dead.
- EURO BONDS ARE `IN NO CASE' A CRISIS SOLUTION, SARKOZY SAYS
- MERKEL SAYS EUROPEAN COURT WON'T VETO MEMBER STATE BUDGETS
- MERKEL SAYS EUROPEAN COURT WON'T VETO MEMBER STATE BUDGETS
Watch the conference live here:
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Full agreement on nothing !
Nothing that addresses the problems, just long term structural changes.
Heil Merkel bitchez!
I don't understand. Are there two Merkozys?
Yes.. There is, for your information...
But the male breed is the one on the German Dog chain, and he is a god damm Russian/Ukraine named Sarkozy..
He even looks like a German Shepard. They want their justice.
Learn the rules..beginner..
No mention of the announcement on reduced PSI or less threatening ESM changes, ZH? Shame on you! :)
As I have told you dooms day junkies, the Euro/USD will be $1.40 in a few weeks. The world is not going to end and shorting this market is a Bear Trap. Trade accordingly.
If you take turns ramping the dollar or euro, the sheeple won't notice they are both being debased.
If the euro goes down and stays down, then the game of tag is over and so is the can kicking.
If the can kicking were over, central banks would have to make due with whatever gold they have amassed up to this date. Now we can't have that, so we will spend whatever amounts of paper necessary to kick the can.
The dollar hit the top of the channel and the euro hit the bottom. Tag, you're it. Time for the Santa Clause rally.
It's all pretty logical!
1. Our kids will have to pay our debts.
so=
Any changes will have to be made in the future... for them.
I look forward to fighting for my country against these Fascists. bring it on bitchez...
Which country are you in?
I don't look forward to fighting the fascists in America. They're firmly in power, very well armed, and very willing to kill citizens.
You must be of french racial heritage.
Those crazy guillotine guys!
Just keep doing what your told and I'm sure you'll be fine.
Yaaay!
Everything's fixed for good!
Sarkozy said so.
Now, about that unpayable amount of sovereign debt (necessitating hair/neck cuts), massively undercapitalized black holes of banks (nationalized and private) sucking all capital into their vortexes, and global economic structural imbalances and inefficiencies on a level higher than ever seen in anything that can be called the 'modern era'....
Oh, right. It's all fixed. Sarkozy said.
Sorry.
SARCsquared
TruthInSunshine,
They are in absolute agreement that they will talk about all those inconvenient issues once a month in scheduled meetings with other Eurozone leaders until those issues go away.
Yes.
The new Sarkozy-inspired strategy appears to be to bore the world to death by blowing smoke up thine asses.
'SARCsquared '
You mean Sark Sarc? That's his new nickname. Those crazy french, I can never tell when they are serious anymore.
Boring.
She's a MAN, baby!
Germany 2 Squid 0. Game continues....
Thank goodness the problem is solved! Now gold can fall from it's artificially inflated value and unemployment can deflate as well. *sigh*
Anyone speak French and can translate??
He said:
"blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah "
stops scratches balls, looks over lovingly at Merkel, continues.
"blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah "
"blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah. blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah blah, blah, blah blah blah, ummm., blah, blah, blah "
in French they say "patati patata", but same meaning...
You mean, you scratch my balls, I scratch yours? Merkel would love that.
He said "Oui bleu, bleu, bleu, bleu
She said "Ja Blar, blar, blar, ja blaren"
Well played, sir!
strange.... I never voted for a agreement.... at least not a German or a French one....
How many country's are in the Eurozone? => 17 BITCHEZ!!! 17!!!
Belgians don't get a vote because they have no government to represent them at the table.....=)
once all technocrats are installed, there should be no problems! let's see how many riots commence!
you surely meant
16 bitchez
1 germany
And some others nonEURO bitches like Polish gov , which is broke just like greece , but it hides it much better ,
18, if you count the dumb wallon/flemish divide. Typical moule-frites play!
Adolf Linköln bitchez!
Nice.
If you're losing, rewrite the rules of the game. I love it! Can you say: European Plunge Protection Team (EPPT)?
European Putt-blug Protection Team!
darn...
Let's see...It took them how long to "agree" to "disagree" on the EFSF...and we're supposed to believe that all EU members will quickly agree to becoming the United States of Europe? Thanks for ze shorteeng opportuniteeeee.
So €bonds it is...
I guess I'll be double checking my bug out bags tonight.
When this charade comes to a head, I don't think TPTB will have a chance to start WW3 because of the huge number of countries which will be involved in their own civil wars.
German language broadcasts to begin in France at once.
Showers and clean underwear mandatory.
Cheese to be firmer, less smelly.
Only pickled vegetables allowed.
BIER NICHT WIEN, SCHWEINEKOPFEN!!! AND PAY US AT ONCE!!!
That's funny stuff right there.
Sprechen Sie Douche! Kool.
I like this part..
"AUTOMATIC PENALTIES BACKED FOR VIOLATORS, SARKOZY sAYS"
I'll drone your ass if you don't cut bitches
The good ole '3 strikes' doctrine.
Yeah, all sounds swell.
Here is the issue: they are all broke. Otherwise this "crisis" would already have been addressed. First we have the failed EFSF, then the IMF to the resue, then last weeks central-bank-thing...but wait, now there is finally agreement to agree to agree........ zzzzzz.
BTW: Heard Corzine has turned state on JPM and other banksters criminals.
Maybe thats why he is MIA???
Yes but now there will be PENALTIES for being broke! See? Fixed.
+1,000 - Classic! Put that on a t-shirt SD1!
"BTW: Heard Corzine has turned state on JPM and other banksters criminals."
Talk about a rumor with no basis in reality. How can Corzine "turn state" against JPM and the banksters when JPM and the backsters ARE the state?
Well that's the joke, see? Like Al-Qeada is the CIA and the 911 terrorists are the government.
It's all very entertaining. The inside jokes, the double meanings. Hilarious.
Reminds me of the Clarke and Dawe skit.
"So where are they going to get the money from?"
"That's a good question."
pods
Rumor is Corzine is hiding under Biden's desk. Biden seen sitting at his desk alot lately.
We dont CARE about vague promises, we're equities, we want FREE MONEY!
It's the Stability Pact all over again. WTF?
Been there, done that, got the T-shirt:))))))
they are in full agreement that today will be a risk-on day
I fully agree... That we do not agree on agreeing to agree ! There , made it simple for you.
So they are saying they are REALLY serious this time?
This plan is going to work. Promise. Pinky swear.
pods
LOL - unfortunately Merkozy cannot share the details of this agreement as the dog has once again eaten our homework...(Sarkozy & Merkel nod in agreement with one another as they are confident that the markets have once again bought the old "dog ate my homework' excuse) Now back to the regularly scheduled european liquidity crisis...
The Germans have taken over Europe and just as before the French acquiesced.
For Sale: WWII French rifle. Never fired. Only dropped once.
This would have sounded good 10 or 15 years ago but how exactly is this going to help now. If ever closing the barn doors after the horses have all bolted applied...
Designing a better padlock, for 2050.
wow all that pumpage and they still can't get it up over 127 SPY.. look out below bitches !
EU Treaty changes were announced 2 weeks ago.
They will take about 2 years to vote on and include "referendums" for some countries.
This is an awesome solution.
Notice how sovereignty is now a bargaining chip. Soon democracy will be as well. All to save the banks from accountiability. Perserving the banking system is ALL that matters.
Another '10 year plan' seems Europe is learning from the master teachers in the US.
Can someone explain how 17 bankrupt nations agreeing to join hands and become one sovereign state in any way makes them less bankrupt? Either the sum of the parts equals the whole or there is someother issue in play. Is it not completely clear that the only way they can stay solvent is to conjure more money out of thin air? The IMF/BIS/CBs can do this NOW if they want to. The fact they are holding the money back until they can get sovereign power consolidated is quite telling. These EURO bonds are just more noise to distract from the real issue of consolidating power.This idea that raising more debt to service past debt is somehow a solution to their collective indebtedness is completely insane.
The same way you can take junk mortgages and bundle them together into AAA traunches. It worked quite well for a while, for some people.
You need rating agencies to provide their OPINIONS - NOT ANALYSIS - JUST THERE OPINIONS - then it is game on...My name is Lloyd Blankfein & I approve this message
It's the Reich Solution. Resistance is futile.
Nailed it.
Euro soars on Merkozy Agreement.
Merkozy: we are both in agreement that we are completely fucked.
sorry, correction:
Merkel: We are both in agreement that I just completely fucked you up your brown littel Frenchhole!
Sarkozy: Mais qui, c'etait tres formidable!
that is exactly the way the french people see it. But, both Socialists and Sarkozy, agree to the treatment, even if they bitch about the sudden German panzer penetration. But then, You can't blame Merkel, the Euro zone countries brought this on themselves by being profligate and debt insolvent. Now its the big sausage from Francfurt. Ein, twsie, tri ...these boots were made for walking!
...doesn't matter S&P up AGAIN on nothing. Why isn't there a rumor and lies ETF?
They also got the European Court of Justice involved. Must be part of jobs for the lawyers. God (with a capital G), you just can't make this stuff up.
Coming across RTS
Scratch that:
Budget will be supervised by ECJ and German MinFin. OK:)
ECJ will rule on, but not oversee national budgets.
SOunds like another agreement that is no agreement at all and anything to come of it will be months and years down the road. IE Gemany flying the EU finger, or taking the whole thing over!
Talk Talk Talk
Now it's my turn FWIW :
SARKOZY CITES COMPLETE AGREEMENT WITH GERMANY REACHED
... and the other 25 EU countries ?
FRANCE, GERMANY SEEK TO PREVENT REPEAT OF CURRENT CRISIS
... every week , or just every month now ?
FRANCE, GERMANY WANT `NEW TREATY' FOR EU
... "want" is NOT "having"
AUTOMATIC PENALTIES BACKED FOR BUDGET VIOLATORS, SARKOZY SAYS
... & hit those that can't pay ... with what ?
SARKOZY SAYS PREFERENCE IS FOR TREATY AMONG 27 EU COUNTRIES
... "preference" .. to what ?
EUROPEAN MONETARY FUND BACKED, SARKOZY SA
... with what ?
SARKOZY SAYS NO COMMENTS TO BE MADE ON ECB
... at least he's learning ;-)
CRISIS MUST BE STOPPED TO PRESERVE EUROPE, SARKOZY SAYS
... why ? ... everybody I know wants out
+1,000 - How many weekly 'emergency' meeting does it take to determine if this is truly an emergency or if 'Merkozy' can simply extort the world capital markets & Central Banks by planning to plan a plan to address the ummm 'emergency'...classic points aleph0 - personal favorite -->
FRANCE, GERMANY SEEK TO PREVENT REPEAT OF CURRENT CRISIS
... every week , or just every month now ?
I think you need to get the rights for the reality TV show!
"Automatic Penalties" - bahahahaha
Kind of like tagging on a late payment fee to someones monthly credit card bill that can't already make an interest payment? That sort of penalty, in essence... Good luck with that. Ever heard of "can't pay/wont pay"?
I don’t know what the hoopla is about, but Germany and France have just proposed a complete new Eurozone, with the ner do wells tossed out for the IMF to handle. To me that means no banker heists or PIGGS debt stick saves. Way too complex.
my belief is that the penalty, would be a further loss of sovereignty
It is pure folly to think the EU can be saved by these two people agreeing on a "plan". The solution to the debt crisis is the creation of millions of new jobs, collection of tax revenues, and a curtailment of deficit spending. The "plan" does nothing to create millions of new jobs. It is a canard.
The agreement is watershed in the followng if the other sovereigns sign on:
1° France eats humble pie. For many years. As Merkel (Germany) wears the pants. AUtomatic spanking on fiscal discipline for alles including France.
2° Fiscal harmonisation now possible. Golden rule applied. So Europe is into AUSTERITY BIGTIME. No way out! This is BAD for USA as they need fiat print and inflation driven growth in Euro zone. Shit will hit the fans later on between O'bammy/FED/GS vs Merkel/EUro zone.
3° ECB will print but second line behind FED/IMF pump. ECB will buy second market sovereign bonds OR via pipeline to IMF who buys direct. No DiRECT ECB involvement as lender of last resort to sovereigns.
4° Merkel, having addressed long term Sovereign debt issues (short tsunami liquidity problem not yet solved), will then attack the longer term Banking debt predicament. she pretends it is a PROBLEM not a PREDICAMENT, à la Martenson present, so its a cliff hanger for many years. The EFSF new version à la Schauble is supposed to address that. It will be presented on 9 Dec. presumably with Sarkozy backing. Will it work? Probably not, Time will tell, but based on the math it looks bad as NO growth in Euro zone.
4° What happens to Germany's export model if long Euro recession in Austerity to 2014? BIG 64000 USD QUESTION, AS THIS COULD MEAN EURO BANKS, AS US BANKS THROUGH CONTAGION, ARE PREDICAMENT NOT PROBLEM....EURO BANK BOOOM-BUST...IN 2013? If German surplus pump collapses and France stays a no-no in terms of growth and exports, then Euro zone will collapse in few years.
5° How will UK react? Wait n see...as they, the City, don't like Euro austerity at all!
Eurosceptics / City banks are exercising pressure on Cameron who can't give in Merkel's joint austerity measures and jeopardize Britain's only revenue stream.
Yet if one believes the MSM he 'll think that if Sarkozy kisses Merkel's ass enough times, everything will be fixed.
how long will this bs go on....you would think the hedge fund managers would start to make them pay for all this bullshit made up rumor mill crap
It's a good news, they are going to rape old retired people.
very easy and legal way to have bear raid sell bonds raise cds and stocks will plumet ala 2008...and like in 2008m, unlike JPM in the old days, this is needed to purge the system
"People don't trust us anymore" Merkle "anymore"???? Bwah!
It's Happy Days in the markets! Wammer Jammer Dickie!
Japan is fucked...
Magic Dick! http://www.youtube.com/watch?v=a0q2Vy3fx2I
and now from France: http://www.youtube.com/watch?v=MDhoEISo5_c in your face.
changes to the Eurozone treaty is probably all the bankers ever really wanted anyway. one more step towards explicit global control.
A new treaty that allows free range money printing.
euro common bond is inevitable ... only problem is it won't fix the actual problem of too much debt and not anough cash to pay the interest.
AHAHAHAHAHAHAHAAAAA.
What penalty? Man man man, Greece would get a penalty, would they EVER be able to pay the penalty?
LOL What a joke.
they wont strip sovereignty until the crisis worsens
better back up the truck on SPY puts while they are cheap
So they are agreeing to plan a plan?
One would think so, but, I am uncertain if such a DRASTIC commitment can be made at this time...</sarcasm off>
A quick summary then for the fun of summarizing:
Germany sez:
Haircuts NONE
New money NONE
France sez:
DERP? Are we dead yet? No? Party at my maison!
Sarkozy tells Merkel he has everything under control:
http://hartgeld.com/filesadmin/images/cartoons/AN-Sarkozy-Suomo.jpg
Good for the Euro...not so good for the Eurozone.
I expect I'll see lire and drachma long before I see such a fiscally-integrated (think chain-gang) EZ.
The Vichy scum apparently want another ass-whuppin'.
If you see these currencies, they'll have but one true purpose, casus belli.
You can remain in the union on their terms, or die resisting it. Either serves their needs.
Remember, the world can remain irrational longer than we can remain solvent. The "new" EU treaty will likely be their original plan, just gussied up a bit. Just as after WWII, the sheeple will accept almost any form of enslavement in order to make the war stop. This Merkozy (spell-check: merrymaker, LOL) routine reminds me FDR and Stalin, where the fate of Europe is paramount as compared to the lives of those who live under it's thumb.
Introducing the Euro version of Abbott & Costello show starring Nicholas Sarkozy as Bud Abbott & Angela Merkel as Lou Costello - Can it get ANY MORE INANE THAN THIS! HOW MANY TIMES CAN TWO 'WORLD' Leaders present absolutely NO PLAN - shout nonsensical platitudes & cliches & be accepted with any credibility?!!!
All we need is for one of them to introduce the fact that Super Mario Monti will dive from 500 meters into an ordinary glass of drinking water & cut to the Looney Tunes music - then the day would be complete! God save us from ourselves!
Introducing the Euro version of Abbott & Costello show starring Barrack Obama as Bud Abbott & Boehner as Lou Costello - Can it get ANY MORE INANE THAN THIS! HOW MANY TIMES CAN TWO 'WORLD' Leaders present absolutely NO PLAN - shout nonsensical platitudes & cliches & be accepted with any credibility?!!!
All we need is for one of them to introduce the fact that Super Mario Monti will dive from 500 meters into an ordinary glass of drinking water & cut to the Looney Tunes music - then the day would be complete! God save us from ourselves!
There, I fixed it for you
Since when are France and Germany the saviors of Europe. The EU farts and DOW climbs.
It seems as if the Merkozys are arranging a new fire insurance certificate while inside the very same building that is on fire!!! Doh...........
The EXACT same thing happened the other week, like 3 times!; going into a weekend someone sparked a story or someone was downgraded and the euro sold off in spectacular fashion, only for the germans to call a meeting somewhere or with someone...monday comes and we're back at the highs. That sell off on friday was just too obvious...so obvious that it nearly killed me. Thats about 4 times i have fell for that shit now. Is it just me or has the whole market recently turned into a bullshit factory?
Why haven't they done anything to fix the real root of the problem and of the disparity of competitiveness:
LABOR MOBILITY.
http://thechinonomist.blogspot.com/2011/11/new-baby-is-being-born-call-d...