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Full Barroso, Van Rompuy Letter Begging For G-20 Money

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Sun, 10/30/2011 - 11:11 | 1826132 slewie the pi-rat
slewie the pi-rat's picture

Rumpoystilskin!  give us the children back!

the ultimate uber-elite entitlement:  global governance, BiCheZ!

 

 

Sun, 10/30/2011 - 11:21 | 1826159 Popo
Popo's picture

Does anyone else find it particularly inappropriate (if not offensive) when the unelected Mr. Rompuy proclaims to act with "common purpose" and "collective spirit"?

Sun, 10/30/2011 - 11:42 | 1826191 stopcpdotcom
stopcpdotcom's picture

This is what Common Purpose is up to in the UK:

http://www.stopcp.com/

 

 

 

Sun, 10/30/2011 - 13:27 | 1826385 ratso
ratso's picture

The letter is pathetic.  They are dreaming that there is a fairy godmother coming.  

The Eurozone will simply have to accept  very difficult financial terms for years because they were cowardly when they had to look the Greek thieves in the eyes and address their lies and theft.  Now they want the rest of the world to make believe along with them that the problems aren't as big as they really are and that all funds lent to the Eurozone will not just be thrown down the Greek, Portuguese and Italian ratholes.

Who will be so stupid as to put more money at risk in this mess?  

Sun, 10/30/2011 - 19:56 | 1827028 TheFourthStooge-ing
TheFourthStooge-ing's picture

Thus spoke Van Rumpy:

"We have acted firmly and decisively with a sense of urgency and common purpose to find a greater fool, a bagholder of last resort."

 

Mon, 10/31/2011 - 03:00 | 1827771 Buck Johnson
Buck Johnson's picture

Your exactly right, nobody wants to throw money down these ratholes including Spain and Ireland and other countries that are in the shadows waiting to explode along with others.  It's so funny that they plan to put 250 to 400 (I've heard so many different sums to this that I don't even think they are sure if they can get the money) which will be levereaged to 1 Trilion euros but they are running around to the rest of the world asking them for money.  Selling them bonds that are leveraged with the guarantee that if they fail the "possilbe" funded part will cover 20% of the failure.  Which all of that is on a foundation of toxic debt.  No on in their right mind would put money in this, no one.

Sun, 10/30/2011 - 12:43 | 1826293 Sean7k
Sean7k's picture

Absolutely. Fascism without the veneer of democracy, Rompuy is asking for greater central control over finance, labor,food, energy and the enviroment. Oh and China, let that damn Yuan rise, not a demand really, just another beggar bureaucrat with a meaningless threat- he has forgot the golden rule: he who has the gold, makes the rules.

Though China is worried they will be shut out of the gold derby while the US and Europe still hold most of the marbles.

Global financial coordination=global slavery and an end to fascism, as fascism requires imperialism and so we transition to totalitarian socialism. 

 

Sun, 10/30/2011 - 13:12 | 1826353 stirners_ghost
stirners_ghost's picture

Do you find it less offensive when elected officials speak in such terms? As if the voting preferences of some constitute an obligation for you? You should find Mr. Rompuy's declarations less offensive--he's no more threatening than a beggar.

Sun, 10/30/2011 - 11:36 | 1826183 Azannoth
Azannoth's picture

Just when you thought Europe could not sink deeper, you have 2 head cock-suckers beggin for money in the 'former colonies' yuk

Sun, 10/30/2011 - 11:45 | 1826193 Innocent Bystander
Sun, 10/30/2011 - 13:39 | 1826415 IQ 101
IQ 101's picture

That is an amazing video, I.B. 

I hope all Z.H.ers will watch it.

Sun, 10/30/2011 - 14:51 | 1826525 slewie the pi-rat
slewie the pi-rat's picture

ok

thxz, good-lookin'!

Sun, 10/30/2011 - 11:54 | 1826203 The Big Ching-aso
The Big Ching-aso's picture

Rompuy just looking for another rump to hump.  

Sun, 10/30/2011 - 12:05 | 1826210 Zero Govt
Zero Govt's picture

 

Let Van Rompuy Eat Cake

Sun, 10/30/2011 - 11:13 | 1826140 maxmad
maxmad's picture

should be good for a 20 handle drop in the S&P once someone at the G-20 rips up the leter! 

Sun, 10/30/2011 - 11:47 | 1826195 maxw3st
maxw3st's picture

Can't wait for the futures market to open up today. Should be fun. But, if things run true to form this'll probably keep the Euro soaring for another week. I am fully prepared to keep my current short and add more to the pile at 1.45 and 1.50 as needed. The higher it goes the more profit will accrue on the way down. It was worth 1.10. With current prospects for prolonged recession that will decrease. 1.50 to parity would be sweet!

Sun, 10/30/2011 - 11:14 | 1826142 BurningFuld
BurningFuld's picture

Herman says: "Da giant debt bomb is about to go off" Now everyone please play nice and the flowers will be out it the spring and the birds will sing.

Sun, 10/30/2011 - 11:55 | 1826204 Schmuck Raker
Sun, 10/30/2011 - 11:15 | 1826145 erg
erg's picture

Brother can you spare €560 billion?

Sun, 10/30/2011 - 12:07 | 1826230 Zero Govt
Zero Govt's picture

The EC (European Communist Party) bankrupt again??

Eastern Europe 'genius' moves onto Western Europe ..i'm 'shocked' who wudda thunk it!!

Sun, 10/30/2011 - 11:16 | 1826146 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Baroso, Merkel ,sarko, pap...I just hate these lefty, academic euro beurocrates so much and I'm getting so tired to death of them; at least in the uk our leaders are openly ruling class elitists, thugs...

Can't we just gas them already? why all the waiting?

Sun, 10/30/2011 - 11:37 | 1826185 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

in fact add to that..I'd like to gas people who voted for them as well...

how can people actually vote?? We always say no one will vote in the next election (like after the iraq war and tony Blair's going round the world lying; yet then plenty still turn out for "their civic duty")

fuck it I think EVERYONE SHOULD DIE!!!

...save for me and about 2000 well selected females...

Sun, 10/30/2011 - 13:49 | 1826431 ratso
ratso's picture

Don't imagine for a second that it is acceptable to say "I'd like to gas people..".

Sun, 10/30/2011 - 13:09 | 1826349 Freddie
Freddie's picture

As evil as they are - they are better than the Chicago muslim.  Nigel Farage is so right about this evil EU scum.

Sun, 10/30/2011 - 11:17 | 1826147 Top_Kill
Top_Kill's picture

A few more months of chaos and bureaucratic fumbling should advance the vatican backed global central bank. Everything is going forward as planned. We lose because they are experts in failure, which will only produce more of their solutions.

Sun, 10/30/2011 - 11:58 | 1826209 The Big Ching-aso
The Big Ching-aso's picture

Too many dykes and not enough fingers.    Or flannel shirts.

Sun, 10/30/2011 - 15:14 | 1826588 Elwood P Suggins
Elwood P Suggins's picture

From hopeium to Popeium!

Sun, 10/30/2011 - 11:19 | 1826148 Popo
Popo's picture

Von Rompuy said:

"We have acted firmly and decisively with a sense of urgency and common purpose. In the current economic situation, with world growth slowing and the global economic outlook deteriorating, we need to renew this collective G20 spirit. So our overall objectives for the Cannes G20 Summit should be to help restore global confidence, support sustainable growth and job creation, and maintain financial stability."

 

Yeah... well... that's not something you can just "decide", boys.  You see, you need to actually 'have' the cash,  or 'have a partner' with cash.   You've got neither and you're already patting yourself on the back for your "decisive", "firm" actions.  

And from all I can see -- even if your so-called "plan" did work out, it looks like you're much more concerned with "financial stability" than "sustainable growth" which you haven't actually addressed at all.

Sun, 10/30/2011 - 11:20 | 1826156 BurningFuld
BurningFuld's picture

Ah Financial Stability...music to the Bankers ear.

Sun, 10/30/2011 - 11:41 | 1826190 maxw3st
maxw3st's picture

I didn't see your post when I made mine. I see we both see the same lack of any substance to claims of dealing with the issue of growth. This isn't referring to any left-wing or socialist agenda. It's about generating the revenue stream to handle the interest payments on all the debt. There is no plan for stimulating growth anywhere in the "plan" as proposed to date. So far it has all been about covering banker'$ a$$e$ so they can lock in their bonuses.

Austerity measures and principle reductions ("haircuts") are great for stabilizing the banking system at this point in time. They do not however; address the ongoing problem of financing that debt. The Euro-zone is no better off than the US when it comes to unemployment. In fact the US is beginning to recover, but the Euro-zone, due to Trichet's interest rate hikes and austerity measures, is sliding backward when it comes to GDP. They are headed for recession. All the refinancing measures addressed to date do not address the issue of growth at all (other than to assure it will decrease).

To top it off, Merkel, et.al., seem to be determined to keep their currency some 30% overvalued. This is another effort that severely undermines any prospects of growth of either exports or tourism - two of Europe's major potential sources of increasing revenue. Talk about cutting off your nose to spite your face! Personally, I will remain short the Euro vs. the USD. I was only expecting a return to a more normalized 1.20 or so, but current behavior by ECB and EMU officials is beginning to make it look like zero bid is a distinct possibility.

Sun, 10/30/2011 - 11:57 | 1826208 BurningFuld
BurningFuld's picture

Careful Dude!

Sun, 10/30/2011 - 12:11 | 1826233 Hansel
Hansel's picture

Printing currency everyday would lead to sustainable growth and they would 'have' the cash.  Is that what you are recommending?

Sun, 10/30/2011 - 11:17 | 1826150 HD
HD's picture

Once I built a railroad...

Sun, 10/30/2011 - 12:21 | 1826243 Zero Govt
Zero Govt's picture

...and that was bankrupt too

Rail has been totally insolvent for 100 years ...only economic retards dumb (and corrupt enough) to prop up Rails bankrupt business model is, yes you've guessed it, politicians

not content with that red-ink sink hole the morons then added nuclear energy, green energy, electric cars, garbage incenerators and the Olympic Games to their investment portofio of totally insolvent garbage

how do politicians always end up totally bankrupt and in the sewer? ...any ideas!

Sun, 10/30/2011 - 12:43 | 1826295 Eally Ucked
Eally Ucked's picture

Obviously you don't know what is the rail. My advice for you is to go to Europe and use it. Eurostar for example with 2hr. travel from London to Paris. Do you think building rail track is more expensive than highway per mile, or maybe maintenance cost are lower for highways? Is it much more economical to use trucks to ship your stuff over thousands of miles? Is oil that cheap?

Sun, 10/30/2011 - 13:14 | 1826358 Freddie
Freddie's picture

Rail works in the US because it is mostly free market.  Passenger in the US does not work.  Who knows how much European rail loses.  It can work better because cities are closer. UK rail by and large is shit. Liberal facists want more passenger rail in the US because it would mean more union jobs and ticket conductors making $150,000.

Sun, 10/30/2011 - 16:15 | 1826693 Eally Ucked
Eally Ucked's picture

Travel from Toronto to Montreal (650km) takes close 6 hr and 450$, London -Paris 2hr10min for distance similar to it and 160$. Beside that train is leaving station every 1hr, so you can choose the most convenient for you. You can go shopping or to visit your favorite restaurant, if you wish, and go home. Trains are full so I don't see that they losing any money on that business. You can buy also cheap Europass for all trains in EU and travel where ever you want and when you want. Try to do it using your car and compare your costs. Of course they have much better city transport, and much cheaper too so you can get everywhere in the city in no time. Just try it.

Sun, 10/30/2011 - 11:20 | 1826154 breezer1
breezer1's picture

"i'll pay you tuesday for a hamburger today".

Sun, 10/30/2011 - 11:26 | 1826155 Quintus
Quintus's picture

I'll gladly pay you Tuesday for a Trillion Euros today....

Sun, 10/30/2011 - 11:21 | 1826157 Segestan
Segestan's picture

Socialist..... always attempting to build on a dream , a promise and a prayer. You would think Europeans would have figured it out by now , but just look at Asia Minor , the craddle of higher civilization itself, and it's a shit hole. Maybe this all has to do with people and not numbers?

Sun, 10/30/2011 - 11:50 | 1826198 XitSam
XitSam's picture

"8) Improving global governance. Finally, we look forward to discussing the report on global governance by Prime Minister David Cameron."

Excuse me? I am in a G20 country, our stuff is screwed up as it is, we don't need no global governance. Does the rest of the world minus the G20 have any say in this global governance?

Sun, 10/30/2011 - 12:04 | 1826223 Segestan
Segestan's picture

It's all kinda like Gods work.... you just have to have faith that you're leaders are working for you. You know... pretend.

Sun, 10/30/2011 - 11:22 | 1826160 Fips_OnTheSpot
Fips_OnTheSpot's picture

Kick the can, until pressure is so high, ESM can be ratified. Which will give _ANY_ financial souverignity just to non-elected assholes in Bruxelles. Including full immunity for housings and people within ESM. Dicatorship coming thru.

Sun, 10/30/2011 - 11:22 | 1826161 Schmuck Raker
Schmuck Raker's picture

Europe needs money ?!?! This is a job for...

SUPER COMMITTEE !!

[da-da-daaa]

Sun, 10/30/2011 - 12:16 | 1826238 slewie the pi-rat
slewie the pi-rat's picture

nice avatar 4 a beltway babee

i'm sorry, the super communists, er, committee is running a bit behind schedule.  aversion to cutting pork, same as europe, especially for goobermint "employees".  too little, too late, blahblahblah...

if the G20 can't handle this trifle, fuk europe!

Sun, 10/30/2011 - 11:24 | 1826162 maxw3st
maxw3st's picture
Notice that, even under the section referring to the restoration of growth, nothing is detailed, anywhere in the letter, that specifically addresses actions to be taken that will stimulate growth. Zerohedge is precisely correct in referring to all this as the continuation of a Ponzi scheme at the central bank level.
Sun, 10/30/2011 - 11:58 | 1826205 Rainman
Rainman's picture

The oligarchs survive by turning bullshit into a common currency.

And speaking of oligarchs, Der Spiegel's Schulz knocks it out of the park in defining America's Second Gilded Age.

http://www.spiegel.de/international/spiegel/0,1518,793896,00.html

Sun, 10/30/2011 - 11:26 | 1826164 Global Hunter
Global Hunter's picture

My common responsibility and purpose is to my family and home, it is definately not banks and their equally stupid and dangerous ponzi scheme.  These guys need to be jailed.  

Sun, 10/30/2011 - 11:25 | 1826165 achmachat
achmachat's picture

Dear Santa...

Sun, 10/30/2011 - 11:26 | 1826166 broke433
broke433's picture

This is indeed bullish until Italy's next auction.

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