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Germany Backs EFSF Expansion With 523 Votes In Favor, 85 Against; EUR Sells On The News
The German "TARP equivalent" EFSF expansion vote has passed with a resounding majority of 523 votes For and 85 Against. Obviously this was largely priced in judging by the rapid sell off in the EURUSd on the news. And now, back to focusing on the structural failure of the Eurozone which no vote can fix.
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Slaves bitchez!
be back here in December when the whole thing starts all over again....Greeks immediately celebrate, pack the uzo and head for the beach.
Watch oil priced in Euros. It's going to crush them.
All Greeks are cleared to head to the beach.....all Germans are cleared to head to the factory.......we're adding an hour to your workday.
Greeks love the beach....Germans love to work. Everyone's happy.
"Poor people form a rich country giving money to rich people from a poor country." Alternatively, bankers raping and pillaging. They shoot horse thieves don't they?
about 500 billion euro debt expansion europe wide - not just Germany - debt spread out, semi shared by all european nations ALREADY PRICED IN
one heck of a slippery slope though
interesting............ there is hidden danger here
http://expose2.wordpress.com
Man, ZH is fast with the news!
whats new people...need imput
Big surprise, not!
All this unfounded fear mongering about a German NO was nonsense. Merkel even got enough votes from her ruling coalition.
if you were threatened with suicide, your family included, what would you do?
Huh?
MAD card.
Sure. But I remember some sensationalistic articles here at ZH that speculated about a German NO followed by a coalition breakup. Such "news" really hurts ZHs credibility...
Agreed unless the opposition of voters to these extensions are also false or do not mean anything to their parliamentary representatives.
Such "news" really hurts ZHs credibility...
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Made me laugh. US citizens never stop.
On the contrary, it once again validated their credibility as a good provider of US cheap propaganda.
It is a for profit blog and there is a market for selling the possibility that a no would have emerged.
Your denial is a bit big to swallow: checking the vote, 500 + for, less than 100 against.
When one is able to capture an audience by claiming that a no vote is possible on such ground, high credibility.
Now, indeed, US citizens have a taste for cheap propaganda but still it is a remarkable deed.
I´m from Switzerland and I knew it would pass.
But I agree, the US posters here at ZH have no clue about Europe.
Very true. US posters know nothing about Europe. And neither do Europeans.
Some of us knew it would pass. It's no coincidence that the vote was made right smack in the middle of Oktoberfest.
And if needed, Oktoberfest festivities will be extended yearlong so as to prevent the sheeple from revolting.
The results of the vote were exactly as predicted. Why? Because this is not about "bailouts". This is about neo-colonization by rich imperialist countries. No wars this time, just clean debt. Until someone wakes up. Then it'll get ugly. Really fucking ugly.
I'm an American. I went to public school, so I'm not that bright. But let's see if I understand Europe: endless war interrupted by (relatively brief) periods of peace, along with the occasional bouts of genocide. The peace currently enforced by your local neighborhood superpower, the good ol' USA, after having to bail them out not once but twice in less than a century when shit hit the fan. Of course, europeans hate the USA, except when the Germans get out of hand. Looks like a 4th reich is coming yet again, as Europe is now basically Germany plus a dozen or so poodles, yorkies and chihuahuas masquerading as nations. Do I have a good understanding???
Germans, US citizens, French and English, for the most of them are german.
Speak up about this pre-vote next time.
So easy to take a piss...
Well I'm Archie Bell from Houston TEXAS...n lemme be the one who suggests that you all "Tighten Up" my baguette eatin brothers....cause this Eurotrash 'poseur' crap just doesn't cut it here - we be an International COMMUNITY of folks what care enough to pass opinions about stuff -you can't dance to the floor vibe - there's the door-you free to leave
...an take your accordion with you!
"...an take your accordion with you!"
cracked me up!
Sounds like my teenage daughter, "You don't understand me at all!"
Meanwhile, I knew something would pass as soon as Obummer gave Merkel a prize. Everything since, is merely political theater.
What is there to have a clue about? You make Europe sound like it needs some kind of special perspective.
The PTB have decided this will become one, contiguous trading bloc. No amount of screaming, bitching, whining or truth will ever change that.
The end.
The possibility of merkel failing to achieve coalition backing was real. Everyone understood that the legislation would pass. So what? All this does is buy a bit of time. The upper house will sign-off on this crap as well, again, just buying time. In the end it will not matter. The pain will come.
http://globaleconomicanalysis.blogspot.com/2011/09/growing-isolation-in-...
The possibility of merkel failing to achieve coalition backing was real.
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Yes and?
You did not read what I wrote.
I wrote about selling the possibility.
A no vote is always a possibility. Now the possibility sells better when it looks very likely.
All the credit to this site to have managed to sell a possible but very unlikely outcoume.
With in mind that US citizens demand for this kind of shit... But at least, there was some market investigation job done.
If all anyone did was report on the probable, and not the merely possible, then the world would be covered in black swans.
I'm not sure what your problem is with this site. If you think you can make it better, stop being a snarky jerk and try to improve things. If you're just here to fluff up your puny ego by trying to insult your projected image of 'Americans', I suggest getting some therapy.
Speaking of propaganda, how's that whole European Union and Euro thing working out for you just 4200 days later?
my understanding was a 75% DISAPPROVAL of this amongst the German Volk. So, perhaps the sentiment of a NO vote was based upon that.
Big surprise, not!
All this unfounded fear mongering about a German NO was nonsense. Merkel even got enough votes from her ruling coalition.
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It was no surprise. As it is no surprise US citizens demand for propaganda denying the most obvious to come exists.
There is a market for selling that the vote would have given a "no"
'unfounded', not.
'fear mongering', not.
what is there to fear about economic accountability and responsibility? Indeed, the 'fear' factor is greater now than it was before. The threat of a continuation of Ponzi schemes is the real nightmare here.
Ouzo. Not uzo.
My bad...not through my first cup of coffee...my 1 remaining brain cell isn't up yet.
Actually, it's not doin half bad: they're heading to the beaches with Uzis to welcome their new er, partners; it's part of the goodies packet that came with the (not so anymore) secret defense pact GPap signed with the Golem.
Unlimited refills on armaments, (watch as Greece steps down from Nato committments) plus a huge horde of funny money (brought to you by way of the drug pipeline what all the goyboys been dying to protect since Gulf War1)
In return, the talmudists get unlimted access to Greek Island bases, open a second front on the Turks, and the much needed alternate flight path which will take the armaggeddom delivery of those big bunker busters OBomba handed over courtesy your tax $ to a place that rhymes with Barbara Ann(if you're twisted enuff!)
No, I think you doin pretty good...maybe put your hand to writing a screenplay sequel to 'On The Beach' ...with your powers of prediction after that second coffee, who knows what cinema verite you could produce!
And now what? Answer: Leverage baby:)
New shooter, coming out..........
This is yesterday's news. The key is the leveraging of these funds to €2T. If they pass that, then we're fucked.
They don't need to "pass" that. They will just do it.
Constitutionality? Referendum?
They already announced that the law will be adjusted to fit. Don't forget: Those people make the laws, too.
god you're an idiot. no they didn't, and no they don't.
"Constitutionality? Referendum?"
Who's the idiot? What on earth is causing you to think either concept is relevent or really at play here?
Exactly--these article titles are very misleading. Evidently the tylers are sucking wind on their pms. This vote has fucking NOTHING to do with "euro TARP" these votes are nothing more than a formality to ratify the 200bil addition settled on in July. I used to come here to get away from the SPIN. Now same shit, different URL.
it's lke Robin Williams in Good Morning, Vietnam -- rip something off the teletype and throw it out there as click porn, diddit, da, ditda, dit (whatever). Sadly, I'm all too ready to click and have the Tylers do my thinking for me. Then the rest of you guys come along and tell me to think for myself. Lots of links to the side to provide other perspectives, and wham, the markets have moved. So much easier when QE2 was going strong. Hmmm, maybe it's going to come around again - Fred Bergsten in NYT saying cheap dolla will help create jobs. God help us, because we can't do it ourselves.
Bundestag, the lower House, voted, now Bundesrat, the upper House, will vote tomorrow, has to "confirm" the vote, that's where Angie is going to run into major trouble!
Besides, 400x Billion ain't enough anyways, so this political theatre ain't over either!
Me stay short and short some more, buy more Physicals and all them other much needed items for "protection":)))!!!
Might get pinched today as the markets will go nutty since more debt is good mentality rules. When this bill comes due there are going to be some serious crying.
523 traitors
the politicians that voted "no" are traitors as well, TPTB have asked them to play the good guys so that they will have established their good credentials toward the people, so that they can continue screw the people.
Absolutely great observation DonD. Yes, TPTB will ALWAYS have their minions on both sides of each and every controversial issue so that they always have a useful pawn to push forward no matter the result.
I am going to the gym, I can't watch my bloomberg terminal another day I getting motion sickness
Really dull across asset classes for this vote. Credit off tights as well today...
WEre left with Austrian vote tomorrow - also expected to pass.
*cry*
Can someone explain how this affects U.S. stocks and the general stock market outlook? I suppose they're rally since this is considered "good news" by the general populace? Am I even close?
Sorry, still getting the hang of this whole economy stuff.
stocks will rally on another dose of hopium, kick the can for another couple weeks.
rally for weeks on this? cmon, your lucky if it holds the day
agreed, will only last until the next article out of the FT or Der Spiegel cast doubt on european unity. Merely stating this doesnt solve any of the problems, just buys a couple weeks or maybe even days until the next crisis of confidence.
Hahaha you guys really don't get this yet? Rally is the expected and logical result, therefore, market will crash a good 200
I too have noticed the reverse logic rule. It's gone well beyond the observation that the market rallies on bad news. Reverse logic, where the market goes up when it should crash, and down when it should rally, esp in PMs, is now almost a given. But inasmuch as it is NOT a market, but a manufactured abomination being forced to trade within a range, we should not be surprised.
Opposite George comes to mind.
pods
may hold off until tomorrow unless GDP today is a surprise up. Upper German house still has to vote...though I suspect it will get through there too unless the German people take to the streets suddenly (doubt it).
Just like our politicians. Chest thumping populist rhetoric, but when it comes down to it, the TBTF show they have them all by the balls. There is no hope for ordinary citizens any more, any idea to the contrary is an absolute joke. When will the people finally stand up and say enough is enough?
so all this bloody ruckus about Liesman lying was quite fascinating, but the reality is he was actually Trueman cause the darn vote passed
You're seriously clueless and the sad thing is there are a lot of you. This vote has not a goddamn thing to do with Liesman's "tarp" rumor/plan.
They didn't pass the Liesman rumor of double-levered half-Nelson euro TARP. Liesman credibility is still squarely in the self-serving political hack mouthpiece category.
It looks like IQ averages dropped about twenty points overnight....
was the Obaminator speechifying about jobs again - those shot per pass this bill mentions are getting too much perhaps
I havbe lost track which expansion is this?
from how much to how much?
Ok, we're fucked.
Cue up image of Hank Paulson wearing lederhosen, chugging large stein of Oktoberfest bier and studdering off German drinking songs...
Europe's screwed.
tripple leverage bail-out fund money coming!! more casino money, more fun
Closed shorts, went long, making money.
Chef!!! ...nobody is making money, they are making a killing. Lol. http://www.youtube.com/watch?v=Wm17jKf5G9A
...ritual slaughter. http://www.youtube.com/watch?v=H5kmKJHy4es
An idiot in Brussels. Could it be true??
http://www.huffingtonpost.co.uk/2011/09/28/peter-oborne-idiot-newsnight_...
So will the expansion fo the EFSF take care of ongoing national deficits and sliding economic growth?
No, it will enrich the banks, wich is it´s pupose. What world do you live in?
My question was rhetorical to point out the uselessness of the EFSF expansion. Your "thumbnail image" though is a good indication of where most of the politicians get their ideas from.
It´s more along the lines of what I wish for them: a hard fisting. Couldn´t get myself to have anal fisting thumbnail though...
geez, and I thought it was more parliamentary sausage
I thought some German judge dude said this was unconstitutional?
Is Germany's Constitution "just a goddamned piece of paper" like ours?
Laws and constitutions, do you see anyone caring?
...uh, we meant beaten. http://www.youtube.com/watch?v=f9Q5xFyWWb0&feature=related
Listen--please read a little more. This vote is not about the tarp plan. This is about putting a little more water in the fire bucket. If there's anythin left after Greece is bailed out this time, that money could be "levered ten times" but it would take a German referendum and and alterations to the constitution to do it.
this news good for the dow jones to be up 1.5%. Gold and silver and oil will also have a slight rally. The European Hentai show continues. Everybody's getting banged these days.
yes all ok greece ios not bankrupt anymore, the us consumer has recovered and China doesn't have a bubble thats exploding
rally on
Mein armes Deutschland.
Another suicide pill swallowed by Germany. Sad but true.
Here's the coalition breakdown:
*MERKEL WON 315 COALITION VOTES FOR EFSF; 10 CDU, 3 FDP OPPOSED
You're numbers are wrong. It was 85 opposed, 3 abstained
This has been thoroughly priced in already and then some so it´s probably sell on news.
DAX, CAC, FTSE are going down now.....
I will never again vote for any of the parties that have voted yes today: CDU/CSU/FDP/SPD/Green. Anything is better than getting bend over by the lazy ClubMed forever. We need a revolution here.
And Weimar 2 begins.
OK back to bed now NY Raining torrents. zzz notice the pm,s are leading again.
A bit surprised by the huge margin of the win vote. I guess AIG and BAC can breathe a sigh of relief for a few more weeks on those credit defaults on Greece, and we can all look forward to higher taxes and inflation in Northern Europe whilst the ouzo swilling hairy monkeys down in Greece receive their pensions and benefits after working at a local taverna for a couple of hours.
The Germans were all probably thinking that the alternative is a pan-European bank run followed shortly by riots seen lately in London. That was possible, so I can hardly criticise their fears, but now when this bailout is implemented, we're in an infinitely worse place as a whole. Coming next: Single European bond market, fiscal union, and a bunch of very rich banker-politicians pumping up the superyacht market.
what a traitor Merkel Is
what a traitor Merkel Is
i just looked at futures, up, and euro up. But since the thing needs to be passed by something like 17 parlimants I don't see what the big deal is. Plus only in a small country is there any chance of a vote against this thing. never in an establsiment country like germany
When are people going to realize that the rulers will do whatever they want whenever they want. Of course this passed just like TARP passed, even if the people were 99% against it passing. The people have an option available to them if they don't like their government and think it doesn't serve them any longer. The people are unwilling to take that option so the game continues and it will keep on continuing until the people demand no more thievery. I don't ever see that happening though particularly not in Germany with their history. This is why I kinda chuckle inside when I see people talk about arrests and convictions and elections. Give me a break...
What this vote tells me is that as Germany and France have been saying, they will now do: Under no circumstances will they let Greece default...they will continue to hand over bags of cash and do as we did in the US, hope that "growth" magically springs up out of brutal austerity and misappropriated (to Greece) investment in a bankrupt nation...they clearly believe that the alternative will take down all their banks, which it very well might. This kick the can is clearly going to take another year or two until the belt tightening and lack of growth get people in the streets in Germany and France...
I am convinced the Greek riots were the most violent we will see in Europe. What did they accomplish? Squat!
I know the Greeks will continue to offer the most resistance to full unification. This resistance has its roots not in disliking the unification but in the absolutely necessary drop in living standards it will bring. You should have seen the Greeks when the Euro was introduced. You would have thought they were the ones that invented it and were backing it. Glowing smiles all around.
Lucky for all of us, Greece is a small enough country that the ECB can "bribe" them to shut up once the bigger picture is complete. "Throw and extra billion or two down there to keep the natives quiet" type thing.
Jonx
what deomocarcy
it will be the4 same whoevber they vote
what we need are referendums in issues like this 75 percent of the people she repsrsenst do not want it yet she chose the undemocratic vote
XLV. DISCOURSE CONCERNING THE MACHINE
Infinity nothingness. Our soul is thrust into the body, where it finds number, time, dimension. It ponders them and calls them nature, necessity, and can believe nothing else.
Pascal, Pensees
http://en.wikipedia.org/wiki/Blaise_Pascal
It's not news that politicians are sell-outs but 523 to 85, they're not even trying to fool any1 anymore they just spit in your (taxpaying) face, kick you in the nuts and laugh about it
because they know you can't/won't do anything about it
From the article:
"And now, a special committee will be established in the Bundestag to ensure parliamentary involvement even in hurried EFSF resolutions."
Is that like our "Super Congress" here in the Fascist States of Amerikkka?
Tell me again - who really won World War II?
Hint: The winner wasn't a nation.
For more hints: http://en.wikipedia.org/wiki/Antony_C._Sutton - Wall Street and the Bolshevik Revolution, Wall Street and the Rise of Hitler and Wall Street and FDR
Told you sooooooooo.
"They had the choice between default and dishonor - they chose dishonor; they will get default later."