Hannan: "The Euro Is The Problem, Not The Solution"

Tyler Durden's picture


72 seconds of crystal-clear thought from English MEP Daniel Hannan as he rather poignantly questions European leaders on the results of last July's European Stress Tests (and the Spanish banks passing with flying colors). In one of the more colorful analogies of the European cataclysm, Hannan describes Europe's self-dealing bailouts as "a transfusion, taking blood from one arm and pumping it into the other arm" noting that unfortunately, there is also a hole in the tube. You simply don't solve a debt problem with more debt; as he concludes "the Euro is the problem not the solution".

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 06/13/2012 - 19:11 | 2523806 world_debt_slave
world_debt_slave's picture

here we go again, same old song and dance, bitchez!


Wed, 06/13/2012 - 19:15 | 2523818 lordbyroniv
lordbyroniv's picture

Someone really needs to start this revoilution already.


How much longer can this go on?


Wed, 06/13/2012 - 19:18 | 2523834 world_debt_slave
world_debt_slave's picture

let Ted Nugent explain it


Wed, 06/13/2012 - 19:45 | 2523858 Manthong
Manthong's picture

If you want a few chuckles and a bit of encouragement :


We need a statesman in this country that understands as much about traditional U.S. culture and the Constitution as Mr. Hannan.

Wed, 06/13/2012 - 20:18 | 2523970 Will To Live
Will To Live's picture

I salute Daniel Hannan.

A. No one there.

B. 2 people clapped at conclusion.

C. Europe is Fuct.

Thu, 06/14/2012 - 07:00 | 2524846 Kingbingo
Kingbingo's picture

"How much longer can this go on?"

Some of us were wondering that in the 70's. As much as I would like the answer to be something else, these central planners can stretch things out longer than you would think possible. 


That said, I am liking the accelerated rate that the various turds are getting pureed by the fast moving air cooling device at the moment. Gives me hope we can’t be at this for that many more years.  

Wed, 06/13/2012 - 19:47 | 2523894 buryfarmer
buryfarmer's picture

The moment van rompuy found out spain would need a bailout: 


Wed, 06/13/2012 - 20:10 | 2523948 Peter Pan
Peter Pan's picture

A group of powerful men and corporations wanted a world without borders where people and capital could travel freely. That is why a Euro was crucial to this outcome. But the outcome simply serves the financial mob and its bets which are now made in the name of one Euro currency.

But the freedom of movement also enabled jobs to go walking and profits to change location. The workers got told that they were no longer competitive.

Thu, 06/14/2012 - 02:39 | 2524689 Ghordius
Ghordius's picture

sure, that's why the financial mob is shrieking to break up the Euro, eh? the group of powerful men and corporations that want a world without borders hates trading and monetary blocks.

all what this MEP is asking is that the southern countries break up and default by devaluing, which would make wonders for banker's bonuses

his country devauled by 30%, up to now. magic? well, it's a bit like slashing the payroll of every Briton by 30%, isn't it? luckily, Britons are not complaining that "they were 30% less competitive than the other europeans"


so go on, since this is the solution let's ask for California to set up it's own currency and do the same trick /SARC

Wed, 06/13/2012 - 21:29 | 2524110 xtop23
xtop23's picture

I kinda enjoyed that actually. Short and sweet, guy's got style.

Wed, 06/13/2012 - 22:10 | 2524235 Cole Younger
Cole Younger's picture

Nigel Farage on Spain Bail Out



Wed, 06/13/2012 - 19:09 | 2523808 veyron
veyron's picture

That lady could hardly hide her glee ...

Wed, 06/13/2012 - 19:12 | 2523815 Sophist Economicus
Sophist Economicus's picture

Long lasting batteries

Thu, 06/14/2012 - 01:46 | 2524647 GMadScientist
GMadScientist's picture


Wed, 06/13/2012 - 19:30 | 2523852 Estrella
Estrella's picture

I noticed that. She could care less. She is on the "team" and is "going to be taken care of" as long as she "does as she is told".

Just exactly like the Senate and House here in the U.S.

We are past the point of no return. This problem cannot be fixed. I do not know when it will come to a crisis, or how bad the crisis will be, but, it is inevitable that the crisis will come.

Wed, 06/13/2012 - 19:11 | 2523811 ronaldawg
ronaldawg's picture

Both Hannan and Farage are "my nigga" - these guys are telling it like it is. 

Wed, 06/13/2012 - 19:14 | 2523827 BKbroiler
BKbroiler's picture

yeah, I was wondering, maybe Nigel is taking on scholars.

Wed, 06/13/2012 - 19:16 | 2523831 GOSPLAN HERO
GOSPLAN HERO's picture

Man, you gots to like Obama!

Wed, 06/13/2012 - 19:13 | 2523817 ArrestBobRubin
ArrestBobRubin's picture

Well Duh!

Wed, 06/13/2012 - 19:15 | 2523828 Ganja Jane
Ganja Jane's picture

 From CFR youtube channel, "Secretary Geithner discusses the state of the global economy and the U.S. recovery":



Wed, 06/13/2012 - 21:05 | 2524058 NemoDeNovo
NemoDeNovo's picture

FU Timmay you little Troll Fucker, and how Sweet Greenspans wife interviewing Timmay @ the CFR.  If I have to explain this being problematic then you are not paying attention.

Wed, 06/13/2012 - 21:41 | 2524138 xtop23
xtop23's picture

I have an incredibly high pain threshold. I was able to watch Little Timmy for a total of almost 6 seconds before I had to click the back arrow.

Wed, 06/13/2012 - 19:17 | 2523832 whoisjohngalt11
whoisjohngalt11's picture

Love the transfusion analogy :-)

Wed, 06/13/2012 - 19:19 | 2523835 kaiten
kaiten's picture

Move on, nothing new here. Just another british clown.

Wed, 06/13/2012 - 20:11 | 2523946 AUD
AUD's picture

Yep, ZH pimping another Brit who is happy to take the Euros he seemingly despises, all the while ignoring the bigger deadbeat across the channel.

God save our gracious Queen... God save our noble Queen...

Wed, 06/13/2012 - 21:43 | 2524145 Ricky Bobby
Ricky Bobby's picture


I say we let Europe sort itself out this time. No Yanks, No Russians, No Brits. Let's just let nature take its course and see what happens. My bet is Socialism will receive it's just rewards - WASTELAND.

Wed, 06/13/2012 - 21:53 | 2524171 AUD
AUD's picture

Sure, but what the fuck do you think the Brits can contribute anyway, except wankers like Farage & Hannan?

Wed, 06/13/2012 - 19:20 | 2523838 ebworthen
ebworthen's picture

Transfusion from one arm to the other, LOL.

Or taking a skin graft from the face for the ass cheeks.

Wed, 06/13/2012 - 20:00 | 2523926 krispkritter
krispkritter's picture

Or Vice Versa. And fat from their asses to plump up their lips...so they can kiss more asses. 

As stated above, Farage and Hannan may get it, and some others because you can hear them applauding Farage at the end of his focused and astute rants, but there can't be that many of them because the insanity continues unabated. 

I love the fact that Hermie Van "Can I touch Your" Rump-boy isn't even showing up for these sessions. Truths a bitch huh?

Wed, 06/13/2012 - 20:21 | 2523977 Will To Live
Will To Live's picture

Rectal Cranial Inversion.  Look it up.

Wed, 06/13/2012 - 19:23 | 2523842 aleph0
aleph0's picture

"72 seconds of crystal-clear thought from English MEP Daniel Hannan"

The above was typical British understatement .

Wed, 06/13/2012 - 19:26 | 2523849 nmewn
nmewn's picture

Using one credit card to pay off another credit card doesn't work?

Wed, 06/13/2012 - 19:34 | 2523865 Bendromeda Strain
Bendromeda Strain's picture

No, but robbing Peter to pay Paul does!

it's the Chicago way...

Wed, 06/13/2012 - 19:37 | 2523868 iDealMeat
iDealMeat's picture

Yup,  Using a CC @ 14% to make payments on a CC @ 9%  =  FAIL

Wed, 06/13/2012 - 19:50 | 2523908 Beam Me Up Scotty
Beam Me Up Scotty's picture

Except when Daddy is there to back up his spoiled rotten brat.

Wed, 06/13/2012 - 20:03 | 2523933 Zero Govt
Zero Govt's picture

did someone mention Mit Romney?

Wed, 06/13/2012 - 19:40 | 2523879 theTribster
theTribster's picture

It does if you have an infinite supply of credit cards that have infinite credit limits, just ask Benny Bernanke and he'll explain how it can work very well. Of course, for him its just an analogy because he has, as we all know, the printing presses that provides unlimited credit. But hey printing press vs infinite card with infinite limits = no difference. Just make sure to get points with those credit cards :)

I'm starting to get the shakes from lack of QE stimulus, its the new drug of choice for Wall Streeter's don't ya know? They get a little a that and its off the races, they like the good stuff though none of that popsicle twist bullshit - we want the direct liquidity injection baby - everywhere. Fuck the needle, get the firehose and bring it on - equities, commodities, some more bad debts, everywhere, just spray money Benny. In fact, see how much you can shoot across the pond to help out the poor Eurozone, you and I know we don't want them to collapse as its fucking up the value of the dollar!

OK, nuff rambling.

Wed, 06/13/2012 - 20:03 | 2523934 tom a taxpayer
tom a taxpayer's picture

My left nut is levitating, perhaps in anticipation of QE stimulus.

Wed, 06/13/2012 - 23:50 | 2524516 Taint Boil
Taint Boil's picture

Taint Boil in the middle

Wed, 06/13/2012 - 20:05 | 2523935 tom a taxpayer
tom a taxpayer's picture

My right nut just started levitating: confirmation of QE stimulus.

Wed, 06/13/2012 - 20:03 | 2523936 krispkritter
krispkritter's picture

It does if you have the Federal Reserve Absurdium Credit Card issued by the Bank of Bernank...no limits, no payments, no audits...'Just Take Our Word For It, Would We Lie To You?' TM

Wed, 06/13/2012 - 20:10 | 2523947 1000924014093
1000924014093's picture

Allow me: "That's totally different!  Private debt is NOT the same as public debt.  If it's public debt, you can do magic tricks with it."

Just ask teh Krugman.

Wed, 06/13/2012 - 19:33 | 2523862 New American Re...
New American Revolution's picture

Close, but as bad as Europe might appear, the Middle East is about to eclipse it; but this will only exasperate Europe further as world trade sprials into the dregs.   This is going to get very bad quickly, what with all this gasoline on the ground it takes just one match and there is a fire going on.   The same sides are still fighting over the Ottoman Empire 100 years later, only they are better prepared, better armed, and have a lot of experience fighting wars these last 4 decades.   This is serious stuff my friends, and all I'm reading here are comments from a bunch of clueless, wannabe comedians with nothing to say.  Except Ganja Jane, and she's high.   www.nar2012.com

Wed, 06/13/2012 - 19:39 | 2523876 Bendromeda Strain
Bendromeda Strain's picture

Look pal, nobody here is clueless, well, except for maybe Euro fan Kaiten. You want a discussion on the ME powderkeg? Fine. Just let us know in advance what you anticipate accomplishing right now, on this thread. Mkay?

Wed, 06/13/2012 - 19:49 | 2523887 Herodotus
Herodotus's picture

Sorry, but nobody gives a rip about the middle east.  All we care about in that region is the countries that have oil; and if things get bad and they won't sell us the oil voluntarily, we will send in troops to seize it and won't bother paying for it.


Wed, 06/13/2012 - 20:09 | 2523945 newengland
newengland's picture


That's your answer: send troops to steal oil? You are a vile thing, and the NDAA was probably written in order to protect your sort from those you abuse, eg the troops, you silly venal moron. The troops are not your toy soldiers, and you will find that out when your sort least expects it.

Thu, 06/14/2012 - 01:55 | 2524658 GMadScientist
GMadScientist's picture

President <BlueTeamNoRedTeam>,

That's your answer: send troops to steal oil? You are a vile thing, and the NDAA was written in order to empower your sort to abuse, eg the troops, you silly venal moron. The troops are not your toy soldiers, and you will find that out when your sort least expects it.


Thu, 06/14/2012 - 02:51 | 2524702 Think for yourself
Think for yourself's picture

I don't think he was personally endorsing that view, but only exposing it. At least that's what it sounds like, when you read "we" as "TPTB".

Wed, 06/13/2012 - 21:50 | 2524161 scatterbrains
scatterbrains's picture

"wont bother paying for it" is that the same as printing money out of thin air in exchange for oil? because I'm pretty sure we're allready doing that in a one off kinda way

Thu, 06/14/2012 - 01:52 | 2524653 GMadScientist
GMadScientist's picture

Can you do it without paying the troops either?

Because that's what it'd take.

You have precious little understanding of how difficult it is to hold someone else's territory long enough to extract oil.

Do NOT follow this link or you will be banned from the site!