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Here Is Why Angela Merkel Has Not Responded To Draghi Just Yet

Tyler Durden's picture


Curious why Germany by way of Angela Merkel, has not yet responded officially to Mario's promises to break Article 123 if needed, in order to preserve the Goldman bonus pool, even if it means flooding Germany with inflation - something that historically has taken her at most a few hours? Better yet, curious why Mario Draghi picked exactly today to go ahead and defy Germany knowing full well there would be no official response for quite a while? Here's why.

From Deutsche Welle as of a few hours ago.

Merkel off on vacation after turbulent start to 2012


German Chancellor Angela Merkel kicked off her summer break with a visit to the Bayreuth festival on Wednesday. She heads off on holiday after a tough first half of 2012 and with 2013 elections looming around the corner.


There won't be a summer press conference this year. In recent years, Merkel had sat down with the media before taking off on holiday. This year though, she'll be skipping the event altogether, avoiding any uncomfortable questions. She's off to go hiking with her husband, finally enjoying a couple of days without cabinet meetings, EU summits or crisis talks.


The vacation will start with the Wagner opera festival in Bayreuth. This year, it'll be the Flying Dutchman – a story of a captain, roaming the seas on a ghost ship after having failed to make it around the Cape of Good Hope. Berlin, too, had its share of political storm and turmoil this year; the first six months of 2012 were anything but plain sailing.

And now we know: going forward the best time to go long the EUR for short but violent rallies is the hour, if not minute, when the German chancellor leaves for vacation. Guaranteed money maker. Now the only question is how long after that trade does one have until the EUR has to be shorted all in in anticipation of the inevitable German response...

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Thu, 07/26/2012 - 09:49 | 2652884 bigdumbnugly
bigdumbnugly's picture

the "when the cat's away" investing strategy?

Thu, 07/26/2012 - 09:52 | 2652904 flacon
flacon's picture

Merkel is livin' it up! 





Thu, 07/26/2012 - 09:59 | 2652950 williambanzai7
williambanzai7's picture


Thu, 07/26/2012 - 10:06 | 2652966 mcguire
mcguire's picture

note:  Merkel is not headed to London for the Olypmics..

Thu, 07/26/2012 - 10:15 | 2653003 BaBaBouy
BaBaBouy's picture

BUSY Getting Laid In the Black Forest ...

Thu, 07/26/2012 - 10:53 | 2653171 _ConanTheLibert...
_ConanTheLibertarian_'s picture


Thu, 07/26/2012 - 10:35 | 2653100 magpie
magpie's picture

Obviously she is not needed in person to blow up the rest of tptb and to steal the gold required for the Euro backing...

Thu, 07/26/2012 - 12:03 | 2653462 I dont belong here
I dont belong here's picture

but Romney is...

Thu, 07/26/2012 - 15:59 | 2654285 magpie
magpie's picture

Someone better warn him then

Thu, 07/26/2012 - 10:08 | 2652976 azzhatter
azzhatter's picture

Gawd, she's hot!!

Thu, 07/26/2012 - 10:13 | 2652989 piliage
piliage's picture

I'm into curvy women and all, but I don't want them to bend light and impact tides.

Thu, 07/26/2012 - 10:16 | 2653006 Randall Cabot
Randall Cabot's picture

"She's off to go hiking with her husband..."

She has a husband?

Thu, 07/26/2012 - 10:54 | 2653176 _ConanTheLibert...
_ConanTheLibertarian_'s picture

She's hiding with her husband...

Thu, 07/26/2012 - 10:32 | 2653088 sessinpo
sessinpo's picture

How can you tell if she bends light and impacts tides? Doesn't the universe rotate around her?

Thu, 07/26/2012 - 10:41 | 2653127 piliage
piliage's picture

At least that part of the Universe which uses the Euro...

Thu, 07/26/2012 - 10:15 | 2653002 Benjamin Glutton
Benjamin Glutton's picture

She may soon wield more power than any German leader since Hitler if these stories are accurate.


The German high court has declared Germany electoral law as invalid and unconstitutional.

“A new election law has been found to be illegal by the Constitutional Court. It says the law will have to be changed before the next election.

It’s a big blow to the German government: the Constitutional Court has found that its new election law is incompatible with the constitution and thus null and void. That means there is currently no legal basis for determining the distribution of seats in the German parliament, the Bundestag.

The next elections must take place by October next year – and the Bundestag will have to have passed a new election law by then.

The law that’s been thrown out was pushed through at the end of 2011 by the current governing coalition of Christian Democrats and liberal Free Democrats against the wishes of the opposition Social Democrats and Greens. Those two parties challenged the law in court, as did some 3,000 citizens.”



Merkel’s election law reform declared unconstitutional

Berlin: Germany’s top court has ruled changes in the current election law, introduced last year by Chancellor Angela Merkel’s coalition, as unconstitutional.

The Wednesday’s ruling has left politicians with limited time to draw up a new law before the general election in 2013, Xinhua reported.


this is huge!
this means ANY GOVERNMENT decission done under this LAW is NULL and invalid and it means there is currently no legal basis for determining the distribution of seats in the German parliament, the Bundestag.

if the government was elected on basis of a invalid LAW the government itself is invalid and all laws which were changed or made in time of this government are also.


Thu, 07/26/2012 - 10:35 | 2653103 metastar
metastar's picture

In that case, any laws enacted by the illegal alien Barry Soetoro should be null and invalid.

Thu, 07/26/2012 - 13:43 | 2653819 RichardP
RichardP's picture

Barry is part of Merkel's government?

Thu, 07/26/2012 - 18:24 | 2654854 jimmytorpedo
jimmytorpedo's picture

But all Germans should take the lead from ex-Stasis/KGB agent.

Thu, 07/26/2012 - 10:58 | 2653193 _ConanTheLibert...
_ConanTheLibertarian_'s picture

so this also means bailouts of EU countries by Germany are illegal?

Thu, 07/26/2012 - 11:04 | 2653219 noses
noses's picture

I guess you just failed to understand: If they don't get their act cleaned up before next regular elections take place, Germany will turn into Greece. One unsatisfied citizen will suffice to render the elections (which then would not be based on any valid law) invalid and Germany will have to repeat the show until nobody is even showing up (so nobody would have a reason to complain). 

Thu, 07/26/2012 - 10:18 | 2653015 malikai
malikai's picture

And that, my dear friends are what we call "Tundra Thighs".

Thu, 07/26/2012 - 10:45 | 2653140 Uncle Remus
Uncle Remus's picture

Oh sieg heil baby. Rrrrrrrrrrrooowww.

Thu, 07/26/2012 - 10:48 | 2653152 WestVillageIdiot
WestVillageIdiot's picture

I wouldn't want to be the guy that has to march into that Sudetenland.

Thu, 07/26/2012 - 10:54 | 2653177 Uncle Remus
Uncle Remus's picture

Ja. No goose-shtupping.

Thu, 07/26/2012 - 11:22 | 2653288 mick_richfield
mick_richfield's picture

"Springtime for Merkel and Germany.

Winter for Euro and France."



Thu, 07/26/2012 - 11:45 | 2653382 canardo
canardo's picture

holy crap

Thu, 07/26/2012 - 10:15 | 2653004 Bartanist
Bartanist's picture

Ahhhh .. those crazy Germans. You don't know if they will roll through your country in tanks or streak through naked.

Thu, 07/26/2012 - 10:29 | 2653072 GERxit
GERxit's picture


Criticism of Germany's fine but comparing them to Nazis all the time is idiotic.
The majority of this country nowadays wasn't even born at that time!

Thu, 07/26/2012 - 10:44 | 2653133 piliage
piliage's picture

You know what else is idiotic? Taking offence to a joke on the internet.

Thu, 07/26/2012 - 10:49 | 2653157 Uncle Remus
Uncle Remus's picture

Just as idiotic is confusing a reference to a military tactic with nazis.

Thu, 07/26/2012 - 10:50 | 2653161 shovelhead
shovelhead's picture

I agree.

Today's Germans are not nearly as wildly free and fun loving as the Nazis of yesteryear.

Thu, 07/26/2012 - 13:12 | 2653719 robobbob
robobbob's picture

exploited, overplayed, cliched, often unfair, and not good for judging individuals, regardless of what the PC crowd delude themselves into believing, stereotypes can only exist over time if there is sufficient basis to sustain them. we all have them. UK, US, Fr, IT, black, white, brown, yellow

in the case of Guurrmens, they love order. they love following the rules. great at building complex contraptions. believe themselves superior. all thats missing is the strong (wo)man with the guts and right circumstances to step up and take advantage of those things.

Thu, 07/26/2012 - 11:04 | 2653226 noses
noses's picture


Thu, 07/26/2012 - 11:43 | 2653379 Nobody For President
Nobody For President's picture

And there went my breakfast...

Thu, 07/26/2012 - 09:52 | 2652908 BKbroiler
BKbroiler's picture

As a kid, whenever my folks left town I'd throw a house party. 

Thu, 07/26/2012 - 10:02 | 2652957 FeralSerf
FeralSerf's picture

A binge on drugs, booze and sex for all.  Eat, drink and be merry for tomorrow we die.

Thu, 07/26/2012 - 10:12 | 2652986 Stoploss
Stoploss's picture

DRAGHI!! You Fucking Pussy!!!

NO BALLS LOL!! Ha ha ha ha ha.!!

Thu, 07/26/2012 - 09:49 | 2652889 John Law Lives
John Law Lives's picture

Let's see Mario "Magic Man" Draghi and Angela "Moneybags" Merkel come up with a comprehensive plan to create millions of good new jobs in the EU.  Until this, this is much ado about nothing...

100% FUBAR.

Thu, 07/26/2012 - 10:52 | 2653165 NoClueSneaker
NoClueSneaker's picture

MAD is an comprehensive and obvious  "plan" since Jens Weidmann gagged and dildoed :-(


Angela at Wagner, Europe plays kinda Verdi ... with heroic tenors of SuperMarioPrinters .....

Thu, 07/26/2012 - 09:50 | 2652890 The Final Countdown
The Final Countdown's picture

Phew, no bikini pics :-)

Thu, 07/26/2012 - 10:01 | 2652901 SheepRevolution
SheepRevolution's picture

Merkel in dem Bikini's, that is tzo Germish und zoo zexy

Thu, 07/26/2012 - 10:07 | 2652969 Joe Davola
Joe Davola's picture

Never mind.

Thu, 07/26/2012 - 10:08 | 2652975 The Final Countdown
The Final Countdown's picture

I see it took williambanzai only 9 minutes to make me look like a fool with my bikini comment.

Thu, 07/26/2012 - 11:24 | 2653296 mick_richfield
mick_richfield's picture

he has a photoshop macro for that.

Thu, 07/26/2012 - 09:50 | 2652893 maxw3st
maxw3st's picture

Outstanding investigative journalism going on here. And that's not a facetious comment. Short, sweet, to the point, accurate, and very timely. Thanks!

Thu, 07/26/2012 - 09:50 | 2652895 slaughterer
slaughterer's picture

She will phone in her NEIN via her mobile phone, do not worry.  

Thu, 07/26/2012 - 16:03 | 2654297 fockewulf190
fockewulf190's picture

Not today. Mario blurted crap already known to all, and the markets shot a load. Perhaps this was pre-approved. Makes Mario look like he's a powerful guy, Merkel gets nice headlines about her trip to Bayreuth bracketed by stories of a big up day in the markets. Be interesting to see if there was anybody in Frankfurt who might have gotten whiff of Mario's statement. Somebody could have made a fortune with such information.

Thu, 07/26/2012 - 16:05 | 2654298 fockewulf190
fockewulf190's picture

Whiff beforehand that is.

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