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Finland Throw A Wrench In Europe's Rumormill

Tyler Durden's picture





 

Because if left unchecked Europe will likely talk the algos trading the market with flashing read headlines to 36,000, here comes Findland to put some things in order

  • FINNISH PM KATAINEN REJECTS PROPOSAL TO USE ESM AND EFSF MONEY TO BUY GOVT BONDS

Yes, the same Finland who ten days ago made it perfectly clear that the EFSF is also subordinating, when they demanded collateral from Spanish banks courtesy of negative pledge language.

Finland will demand collateral for its share of emergency loans to shore up the Spanish banking system should the money come from the euro-region’s temporary bailout fund, Finance Minister Jutta Urpilainen said.

 

It remains undecided whether the bailout will be granted via the temporary facility, in which case Finland will require collateral,” Urpilainen told reporters in Kokkola, Finland, yesterday. The other alternative is to grant the loan through the European Stability Mechanism, the “permanent crisis mechanism, which will provide better security for taxpayers” and won’t result in demands for extra guarantees, Urpilainen said.

Still dreaming the Spanish bailout will be pari passu to bonds and not subordinate anyone? Then wait until Germany pulls the negative pledge card next and the whole European house of cards tumbles (just as Germany wants), and comes begging to Merkel for any bailout on any terms, all the while pushing EURUSD to parity, generating record profits for all German exporters. Just as Germany planned all along.

 


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Wed, 06/20/2012 - 11:02 | Link to Comment TrainWreck1
TrainWreck1's picture

So Europe and the Euro are Finnished?

:(

Wed, 06/20/2012 - 11:03 | Link to Comment Divided States ...
Divided States of America's picture

Maybe Europe is FINNISHED this time around for good???

Wed, 06/20/2012 - 11:29 | Link to Comment El Oregonian
El Oregonian's picture

Maybe, but all I know is that they're getting a good Euro-nating on.

Wed, 06/20/2012 - 11:24 | Link to Comment disabledvet
disabledvet's picture

Obviously no the EU isn't "Finnished." it may well have to proceed without them however. Given that Sweden and Norway still have their own (perfectly sound) money this should not come as a surprise.

Wed, 06/20/2012 - 12:23 | Link to Comment financial apoca...
financial apocalyptic contagion's picture

Tyler: problem is if consumer demand falters around the world or if shit just gets too expensive, Germany would earn nada from achieving parity

Wed, 06/20/2012 - 11:34 | Link to Comment Silver Bug
Silver Bug's picture

Time for the EURO monster to go.

 

http://jimrickards.blogspot.ca/

Wed, 06/20/2012 - 11:11 | Link to Comment DaveyJones
DaveyJones's picture

http://www.youtube.com/watch?v=ZvUwC5JTAJY&feature=player_embedded#!

interesting interview with Assange and Equadorian President

currently seeking asylum at the embassy

 

Wed, 06/20/2012 - 11:26 | Link to Comment disabledvet
disabledvet's picture

Very interesting. "First of a wave" I think as nations throughout the world begin accepting the (very rich) victims of "main stream media" (sure ain't Main Street media that's for sure.) the other interesting one will be New Zealand.

Wed, 06/20/2012 - 11:02 | Link to Comment bdc63
bdc63's picture

the writing is on the wall folks ... they aren't even trying to hide it anymore. 

the EURO and it's make-believe union are DEAD AS A DOORNAIL

Wed, 06/20/2012 - 11:31 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

So....is this a natural collapse or a controlled demolition?

See World Trade Center Towers 1, 2 and 7 on 9/11 for examples of controlled demolition.

WTC 1 and 2 were not "traditional" controlled demolitions (they were demos none-the-less)......but WTC 7 was a classic demo.

Wed, 06/20/2012 - 11:06 | Link to Comment falak pema
falak pema's picture

OT/

 

Here is the most awesome and outrageous banksta blackmail threat issued to the US government :

ROBERT REICH: Jamie Dimon Has Exposed A Huge Global Loophole - Business Insider

For those who have been bailed out in 2008 who have continued to spread the disease world-wide now to threaten this has to be the sign that this crony game is a time bomb ticking! And its coming from the horse's mouth.

Wed, 06/20/2012 - 11:05 | Link to Comment Conman
Conman's picture

Ich bin ein Berliner.

Wed, 06/20/2012 - 11:50 | Link to Comment twh99
twh99's picture

That literally means: "I am a donut."

Wed, 06/20/2012 - 11:05 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Possession is the fucking law.  In this case, possession of real fucking collateral or tangible assets.  Paper and paper promises dying faster in the absence of any real consequences for bad behavior, awesome.

Wed, 06/20/2012 - 11:07 | Link to Comment Satan
Satan's picture

" we will accept the souls of your unborn children as collateral ".

Wed, 06/20/2012 - 11:07 | Link to Comment the not so migh...
the not so mighty maximiza's picture

Finland bring this fucker down.

Wed, 06/20/2012 - 11:33 | Link to Comment dwdollar
dwdollar's picture

Still think a country like Finland is the first to leave the Euro. They're paying out, yet they don't receive the political dominance of the largest creditor Germany. The cost of leaving the Euro is very low for Finland (compared to most others).

Wed, 06/20/2012 - 11:08 | Link to Comment The Count
The Count's picture

The Finns are the only one with some guts in this mascarade but in the end the will play ball. There are forces working in the shadows that will not be messed with.

Wed, 06/20/2012 - 11:08 | Link to Comment Man Who Was Thursday
Man Who Was Thursday's picture

"Just as Germany planned all along" - do I sense irony in here? Genuine question

Wed, 06/20/2012 - 11:18 | Link to Comment aleph0
aleph0's picture

ZH assumes the German "politicians" know what they're doing IMO. I do not.

In the last bailout for Greece, most of them didn't even know how much the bailout was ... but nearly all signed it off.

No , I think this is part of the planned Currency War between US/EU ... only the EU hasn't woken up yet.

Wed, 06/20/2012 - 11:55 | Link to Comment Carl Spackler
Carl Spackler's picture

I would argue that German politicians are just as moronic as American politicians because the same sheeple are the underlying voters.

Case in point: 

Der Spiegel recently ran an article about how Germans are not loving Obama as POTUS as much as they used to love him. 

Conclusion, any voting populace who still loves an Obama (even if not as much) is guilty of electing other incompetent and corrupt candidates incapable of dealing with the predominant issues of our time.

And hey, I used to live in Bonn, and so I saw these clowns -live- in action.

Wed, 06/20/2012 - 12:09 | Link to Comment Dr. Engali
Dr. Engali's picture

But it's all okay beause we have big daddy warbucks Ben who wil ride in on his printer and save the day.....maybe...after a market crash.

Wed, 06/20/2012 - 11:11 | Link to Comment DrDinkus
DrDinkus's picture

Assuming this thing picks up steam after Bernack says no easing and SP and IT yields jump to unsustainable levels...where does SPX go from here? 1100? as the facade of the euro crumbles wonder how exposed our financials here are..

Wed, 06/20/2012 - 11:11 | Link to Comment Alejandrito
Alejandrito's picture

I think these words are  to their electorate.

The bond market is now beginning to discount the help:

http://cut.by/0vV7V

Wed, 06/20/2012 - 11:11 | Link to Comment Arkaenun
Arkaenun's picture

Looks like it is time to monkeyhammer Finland

Wed, 06/20/2012 - 11:12 | Link to Comment mrktwtch2
mrktwtch2's picture

how many more months of this charade?? 12 to 16 maybe..so if we are lucky maybe by oct of 2013..they will call the best accountants of the world to geneva to figure out how to unwind the failed euro and decide what each countrys currencies are worth..

Wed, 06/20/2012 - 11:17 | Link to Comment bdc63
bdc63's picture

I can't imagine that we have that long.  I think somethings gotta happen in this calendar year.  My guess is September.

Wed, 06/20/2012 - 11:20 | Link to Comment LULZBank
LULZBank's picture

Please dont scare me. I just got my iPhone and setup my Facebook account, waiting for Microsoft's Surface.

Wed, 06/20/2012 - 11:44 | Link to Comment bdc63
bdc63's picture

Karl Denninger ... looks like I'm in good company.  Thanks for the link.

Wed, 06/20/2012 - 12:14 | Link to Comment valley chick
valley chick's picture

looks like you and Karl are two peas in a pod on your timeline.. ;-)

Wed, 06/20/2012 - 11:51 | Link to Comment Bam_Man
Bam_Man's picture

But then will the OctoMom's porno-flick still be released?

Wed, 06/20/2012 - 11:15 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

Finland will put the spoke into the 'bailout' mechanism.

 

Not an f'ing chance.

Wed, 06/20/2012 - 11:16 | Link to Comment Temporalist
Temporalist's picture

Looks like ZH is still the best news source ahead of the pack:

JPMorgan Poised to Make 157% on MF Global’s LME Shares

http://www.bloomberg.com/news/2012-06-20/jpmorgan-poised-to-make-157-on-...

Wed, 06/20/2012 - 11:16 | Link to Comment Lebensphilosoph
Lebensphilosoph's picture

And the German-baiting begins.

Wed, 06/20/2012 - 11:19 | Link to Comment pagan
pagan's picture

Yep, this is a very intersting q. How will the other northern nations take it? Not so many, only Finland, Holland and Austria.

If Germany had any brains, they would use their reluctance and make an out.

 

But they lost ww2, so what obama says goes.

Wed, 06/20/2012 - 11:20 | Link to Comment valley chick
valley chick's picture

they can extend and pretend and entertain the masses...but nothing is fixed.  Printing ...no printing....Greece mess...all entertainment.  Bring on the mother load...Italy...like to get to the last chapter with less drama. 

Wed, 06/20/2012 - 11:28 | Link to Comment Broken Window
Broken Window's picture

This is total BS. Everyone knows, that Urpilainen and Katainen are euro fantatics, and don't hesitate a moment to sell finnish taxpayers for the bankers. United States of Europe is their main goal.

Wed, 06/20/2012 - 11:52 | Link to Comment elwu
elwu's picture

"Just as Germany planned all along."

Jesus wept! You sound more and more like certain infantile Greeks with their retarted conbspiracy theories.

Germany is to blame for everything and forever, of course.

How comes that half of the world is per self definition by profession a helpless victim of the sinister German plots? 

Grow up!

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