Game Over? Reuters Says Germany, France Exploring Idea Of Core Euro Zone, End Of Existing Structure

Tyler Durden's picture

If anyone needed the proper epitaph for the insane stupidity out of Europe, Reuters may have just provided it. In an exclusive article, Reuters stuns us with the following: "German and French officials have discussed plans for a radical overhaul of the European Union that would involve establishing a more integrated and potentially smaller euro zone, EU sources say. French President Nicolas Sarkozy gave some flavour of his thinking during an address to students in the eastern French city of Strasbourg on Tuesday, when he said a two-speed Europe -- the euro zone moving ahead more rapidly than all 27 countries in the EU -- was the only model for the future." It gets much worse: "The discussions among senior policymakers in Paris, Berlin and Brussels go further, raising the possibility of one or more countries leaving the euro zone, while the remaining core pushes on towards deeper economic integration, including on tax and fiscal policy." Not sure how to further clarify this: Europe is preparing for its own end, and the dissolution of the existing structure of the Eurozone, which likely means an end to the EU in its current format, a reshaping of the customs union, and the overhaul of the zEURq.PK in its current form. Ironically, this may end up being favorable for the Euro... and detrimental for Germany. So the question is: will Germany go for it? At this point, it probably has no choice, unless it wants a mutiny on its hands.

More from Reuters on this shocker:

A senior EU official said changing the make-up of the euro zone has been discussed on an "intellectual" level but had not moved to operational or technical discussions, while a French government source said there was no such project in the works.


Such steps are also opposed by many EU countries, whose backing would be needed for any adjustments to the bloc's treaties, making them anything but a done deal.


"This will unravel everything our forebears have painstakingly built up and repudiate all that they stood for in the past sixty years," one EU diplomat told Reuters. "This is not about a two-speed Europe, we already have that. This will redraw the map geopolitically and give rise to new tensions. It could truly be the end of Europe as we know it."


Nonetheless, the Franco-German motor has generally been the driving force in steps forward for European integration.


To an extent the taboo on a country leaving the 17-member currency bloc was already broken at the G20 summit in Cannes last week, when German Chancellor Angela Merkel and Sarkozy both effectively said that Greece might have to drop out if the euro zone's long-term stability was to be maintained.


But the latest discussions among European officials point to a more fundamental re-evaluation of the 12-year-old currency project -- including which countries and what policies are needed to keep it strong and stable for the next decade and beyond -- before Europe's debt crisis manages to break it apart.


In large part the aim is to reshape the currency bloc along the lines it was originally intended; strong, economically integrated countries sharing a currency, before nations such as Greece managed to get in.

And so forth. Read the full thing here.

In other news: euroskeptics - take a bow. We truly can't wait for Abrose Evans Pritchards' and Nigel Farage's responses to this news.

As usual, the Economist summarizes it best with one cover.

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I think I need to buy a gun's picture

oh my god all the bullshit, the plan is in place just execute it already,,,,cnbc is at another new high in bullshit

BaBaBouy's picture

F*I*N*A*L*L*Y ...


A Plan "B" ...

Smithovsky's picture

Let's get rid of the dead weight and move on already.  

Comay Mierda's picture

I'm going on a coke and hooker binge this weekend, likely will end up in a coma for a few months.  wake me up when all this euro bullshit is over and my gold is worth $10,000/oz

Kitler's picture

"German and French officials have discussed plans for a radical overhaul of the European Union that would involve establishing a more integrated and potentially smaller euro zone, EU sources say.


...raising the possibility of one or more countries leaving the euro zone, while the remaining core pushes on towards deeper economic integration, including on tax and fiscal policy."


Merkozy are telling the little PIIGS to STFU and hand over the sovereignty of their nations and citizenry to the ECB banksters like good little boys and girls or get booted off of the Survivor Europe (TM) nightly news broadcast program.

The bankers themselves can then decide best what if any services the citizenry should receive in exchange for their continued support of the European parasitic banking system.

barkster's picture

it's the "establishing a more integrated" part of "a radical overhaul of the European Union that would involve establishing a more integrated and potentially smaller euro zone" that interests me.

slewie the pi-rat's picture

this is the best we're gonna doo-doo, mehapz

the piigs should be ok w/ their own currencies, defaults (?), auster-it-eeez, and BKs

i'm sure the banksters will be most helpful, aren't you?

will the new EU (FR + GER + countries to run away to) be able to withstand the dipping in solvent? 

Going Loco's picture

Your gold will be worth $10,000 an ounce and a Big Mac will cost $5,000. The second one will not taste as good as the first (I am referring to the Big Macs, not the hookers, about which I know nothing).

Jean's picture

It's "remember" or "recall" nothing, a lawyer can kill you with the word "know".

optimator's picture

Send the Bernak and his Heidlebergs over there to show 'em how to solve all their problems (and make the bankster richer).

Pegasus Muse's picture

"...which likely means an end to the EU in its current format,..."

tschüß .... ciao ... un adieu ... adios ... tanto tempo ... later dude

Wish Farage was a US Citizen.  I’d vote for him for President.  He’s better than anything we got.  


King World News:  MEP Nigel Farage


GenX Investor's picture

Who benefits the most from a EURO collapse?  Germany, and there is no way they are going to backstop that FIAT with their gold holdings, so it is a case of cake and eat it too (for the time being).  They are going to increase their exports to the USA of BMWs because all of Euro holders are going to be USD holders soon, which will put the last nail in the coffin of the ill fated currency.  Germany will have up to 1 year to capitalize on this implosion until world wide receission sets in and the banking cartel is left with a zero sum end game, and eat each other like cannibles.  But that is just my guess, I could be wrong???

trav7777's picture

just fucking invade greece already

Mr Lennon Hendrix's picture

Just when I got to thinking the US is the stupidest piece of shit government, Europe went and destroyed Libya, which is one of their greatest oil suppliers.  Now they can't figure out that their financial system is unsustainable.  Europe, you lose.

Jay Gould Esq.'s picture

"Been there, done that."

-- The late, former U.N. Secretary-General Kurt Waldheim.,,2609038_1,00.jpg

Mr Lennon Hendrix's picture

Is the snake that is the New World Order eating itself?  Is the long tradition of Germany vs. Italy coming to a head?  Will Europe implode before the US bombs Iran? 

It appears the illuminatti are up shit creek.  Without a viable solution for all of the problems they have created, how will they give us ther New World Order? 

Or maybe we should all buy NFLX and forget about it.

Comay Mierda's picture

the euro was designed to implode.  then they will introduce even more currency/fiscal consolidation.  then that will implode, then they will have even more consolidation.  its all about implosions and power consolidations

NotApplicable's picture

Ding, ding, ding, Winnnah!

What they couldn't do by constitutional referendum in the beginning, they will do now by withholding aid while keeping all exits sealed.

This is not a game-over event, but a change of rules between quarters.

Mr Lennon Hendrix's picture

The people won't go for it.   I think they will all go back to seperate currencies.

NotApplicable's picture

The people? They will kill each other off, while they starve. The "leaders" meanwhile, will do what they're told.

Ahmeexnal's picture

Just remember there's a little event called WORLD WAR in between each of those cycles you speak of.

Comay Mierda's picture

I am aware of that part of the plan. Nations nuking each other while suppressing armed uprisings and devaluing fiat currencies to starve the sheeple.

john39's picture

i think this part actually is part of the plan....  collapse and cause choas, then seize control.    its that second stop where they must be stopped.

NotApplicable's picture

A dependent population is incapable of stopping this criminal cartel (once again, part of the plan).

Iam_Silverman's picture

"A dependent population is incapable of stopping this criminal cartel "

In that case can we help them out by sending over all of our welfare queens, chronically unemployed and SNAP participants?

reggiehammond's picture

Yeah Power Lunch is about to kick into high gear. I FUCKING HATE CNBC.

WestVillageIdiot's picture

I never turn on CNBC anymore.  Never.  My life is happier and my blood pressure is lower.  Just turn them off and walk away.  That is the only way they will die.

Carlyle Groupie's picture

I'm tuned out and stress free for the last 5 years. Except when I see CNBC clips on the hedge then I get enraged and combative. Usually things break in the near vicinity.

Ima anal sphincter's picture

They had two congress critters on just a while back. Talking abut the "Super Committee" and cutting the budget by 1.2T. Blah, blah, blah........Is the SC even constitutional?????


Same old shit.....different day. They DO help me stay in shape with the cussing skills. You never want to loose that ability when it comes to today's bankers and budget.

edotabin's picture

CNBS? I had dramatically limited my TV viewing to a late night stupid movie 2-3 times a week.  Then my cable box went on the blink and kept rebooting.  Rather than call the cable company I just pulled the plug and it is a paperweight collecting dust. I am on my 3rd month now.  Other than quitting smoking, this is the best present I ever gave myself.

eureka's picture

Please tell everyone with half a brain to boycott CNBC - and all other GE outfits for that matter. Scum bag cheerleader liars.

optimator's picture

That's not nice.  Jeffy Immelt is trying so hard to help, O'bummer, why Jeffy even quit his spot on the NY Federal Reserve board to devote himself full time to our President, and , oh, General Electric too.  They should make a reality show out of Jeffy's day.  It would be funnier than his comedy channel, CNBC.

i root for that fat jersey governor's picture

then never watch it again - that will hurt it, at least doing your part.

I stopped watching CNBS, period, since 2008 financial melt down.

reggiehammond's picture

Real talk I stopped watching CNBC in 2001 and only recently started watching CNBC and Bloomburg again just because I've been doing some trading (and you might know there is some headline risk/volatility). I hate trading stocks and much prefer straight gambling (sports, cards, whatever) but I love the idea of betting on the decline of the entire financial world even if I LOSE EVERY FUCKING PENNY. With respect to CNBC, it was like a time warp because its the same FUCKING PEOPLE SAYING THE SAME IDIOTIC BULLSHIT AS TEN FUCKING YEARS AGO. TALK ABOUT GROUNDHOG DAY BILL MURRAY HOLLER. I TOOK TEN YEARS OFF AND ITS IDENTICAL. CAN SOMEONE EXPLAIN TO ME HOW BOB PISANI HAS KEPT HIS JOB? I feel like there is a slight chance they are just re-airing the 2008/2009 years but I wouldn't know because I didn't really follow finance that closely for those boom years (I did go to grade school with Dick Fuld's twin daughters though so I heard some great stories from the frontline). CNBC MAKES TONS OF MONEY AND PROVIDES AN OUTLET FOR WALL ST ASSHOLES TO RUN THEIR IDIOT MOUTHS AND THAT PISSES ME OFF. STOCK PICKING? The correlation matrix between individual stocks and the broader market is upwards of 90& so please TELL ME ABOUT WHATEVER FUCKING STOCK YOU LIKE THIS WEEK. NEXT WEEK IT WILL BE SOMETHING ELSE.

Don Birnam's picture

"2001 ?! I wasn't even A-list with Uncle Warren -- pardon me, 'MISTER Buffett' -- oops, well, 'A-list' isn't really the term -- uh, I wasn't even PRIVY to Mister Buffett's bathtub musings yet in 2001 ! You really have to watch, Reggie !"

TheMerryPrankster's picture

There is no past, there is no history, there is no context. There is only now. What is this 2001 you speak of? What is 2008? There is only sell in the morning and buy in the afternoon or just get drunk and sleep it off.

jdelano's picture

wait a minute wait a minute--yes it may ultimately make for a stronger Euro, but not before EVERYTHING GOES STRAIGHT TO FUCKING HELL.  No glossing over that bit.  Merry freaking christmas pumper chumpers!

WestVillageIdiot's picture

And enjoy your Christmas tree tax, thanks to the Pumpkinhead in Chief.  All I want for Christmas is a president that is not so openly phony and corrupt.  I think it would be easier to ask for a pony. 

flattrader's picture

Better go back and read that Christmas Tree thread again.

But, then again, your name is WestVillageIdiot for a reason.

eureka's picture

I welcome it. US should take a clue - drop loser states like California from the union.

WestVillageIdiot's picture

New York City sucks the blood out of the rest of the country.  Get rid of it and you'd be a lot better off.  The center of the thievery is right outside my door. 

jdelano's picture

the west village?  There's a 500 wannabe Sarah Jessica Parkers from Toledo and some drag queens outside your door.  Don't think bombing Crumbs (meant to say Magnolia) is gonna help much, point the psychos a little more south....   

WestVillageIdiot's picture

The West Village on Saturdays and Sundays during "brunch time" has become the sixth level of hell.  You just want to take that cupcake from Magnolia Bakery and ram it down their pie hole. 

jdelano's picture

don't i know it man.  my girlfriend drags me there at least twice a month.  If it weren't for the bottomless bloody marys I'd leave her over it.  

TheLooza's picture

As long as we have our access to water from the Col. River, California on its own would be quite a marvelous country.  We'd have to build a fucking fence on ALL of our borders to keep all you fucking illegals out.

WestVillageIdiot's picture

California is prime real estate.  It's not California that is the problem.  It is its inhabitants and all of their fucked up ideas. 

candyman's picture

I'm going fly fishing this afternoon at my favorate stream burried in the Sierra's near Tahoe. Its fucking georgeous outside today. Lifes a bitch in Ca. Not a Mexican as far as I can see...

J 457's picture

Don't know where you are, but winter has already set, snow in Tahoe.  Flies gone until 2012.  Fish the Taylor outflow in Feb when the mack fry swin into the awaiting Browns.   

candyman's picture

further down the hill on the silver