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Latest Barrage Of Headlines From Europe

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Wed, 10/19/2011 - 12:02 | 1789179 slaughterer
slaughterer's picture

I thought the 2 trillion Euro was on the way already.  /sarc

Wed, 10/19/2011 - 12:13 | 1789243 I Ching
I Ching's picture

I thought Merkel et al were a bunch of strokes.

Wed, 10/19/2011 - 12:37 | 1789346 eurusdog
eurusdog's picture

But what about the market which has already priced in not only the Magic Wand but the Quidditch match victory over Slitherin. What now? Classic

Wed, 10/19/2011 - 14:27 | 1789372 sqz
sqz's picture

What's ironic is that economically for all (at a one-off cost) the best solution would be if Germany left the Eurozone and returned to the Deutschmark. Germany would then be able to very easily repay the Euro-denominated debts of their banks in new upward revalued DM and have no further bailout responsibilities to the EZ, other than incidently through EU-wide vehicles.

This would free up the restraints on the remaining EZ countries to lower interest rates, monetize their debt, devalue their currency and use fiscal stimulus where needed through the now Fed-equivalent ECB.

In addition, when over 70% of the German population consider the Euro unworkable or even dislike it, for Merkel to tie herself so strongly to the Euro is both strange and seemingly politically suicidal. She does not need to pander to the opposition with any upcoming Euro-related confidence altering voting in the Bundesbank. Especially since she could have used the implicit threat of leaving the Euro to have a better negotiating position at these bailout talks.

Given how close we are to the weekend's summit and the November "deadline", to me, that signals that she has acceded to either,

1) some kind of weak EZ bailout solution, e.g. an unworkable EFSF plan, and is trying to prop up the markets once the inevitably sour figures and paper-thin guarantees come through, or

2) is preparing to commit to some kind of Eurobond solution and therefore pre-selling, e.g. the two-tier "Red vs Blue" EZ Eurobond solution in this European Parliament document:

http://www.europarl.europa.eu/document/activities/cont/201103/20110317AT...

Wed, 10/19/2011 - 13:26 | 1789513 Hard1
Hard1's picture

but...but....but....we were all hoping on the stroke of the magic wand!!

Wed, 10/19/2011 - 18:05 | 1790553 Bwahaha WAGFDSMB
Wed, 10/19/2011 - 21:13 | 1791081 Ahmeexnal
Ahmeexnal's picture

Zauberstab!

http://www.youtube.com/watch?v=cw9g-_hVw44

But in Merkel's case the lyrics should be changed to: "Du bist the Hässlichste aller Hexen"

Wenn dein Mund lacht, geht in mir die Sonne auf,
 mit dieser Zaubermacht weckst du meine Lenden auf.
 Deinen Augen kann ich mich nicht entzieh'n,
 in deinen Augen muß ich hoffnunglos verglüh'n.

 Du bist die Schönste aller Hexen,
 alles an dir ist reiner Sex, wenn
 ich dich kriege,
 zeigt dir mein Zauberstab die Liebe.

 Du hast Beine, die Säulen deiner runden Pracht,
 deine Beine sind ganz speziell für mich gemacht.
 Süsser Käfer, dein Sex-Appeal haut mich um.
 Du bist die Schönste aller Hexen,

 alles an dir ist reiner Sex, wenn
 ich dich kriege,
 zeigt dir mein Zauberstab die Liebe.

 Du bist die Schönste aller Hexen,
 alles an dir ist reiner Sex, wenn
 ich dich kriege,
 zeigt dir mein Zauberstab die Liebe.

 Wenn dein Mund lacht, geht in mir die Sonne auf,
 mit dieser Zaubermacht weckst du meine Lenden auf.
 Komm und nimm mich, zeig mir deine Eitelkeit.

 Du bist die Schönste aller Hexen,
 alles an dir ist reiner Sex, wenn
 ich dich kriege,
 zeigt dir mein Zauberstab die Liebe.

 Du hast Beine, die Säulen deiner runden Pracht,
 deine Beine sind ganz speziell für mich gemacht.
 Süsser Käfer, dein Sex-Appeal haut mich um.

 Du bist die Schönste aller Hexen,
 alles an dir ist reiner Sex, wenn
 ich dich kriege,
 zeigt dir mein Zauberstab die Liebe.

Wed, 10/19/2011 - 12:15 | 1789255 Unprepared
Unprepared's picture

Have no fear, the "EURO is stable".

Hint: stable here is a medical term.

 

Translation: "EURO is in a vegetative state"

http://en.wikipedia.org/wiki/Persistent_vegetative_state

Wed, 10/19/2011 - 12:18 | 1789268 johngaltfla
johngaltfla's picture

Have no fear, the "EURO is stable".

Germany and France to the PIIGS:

"I swear honey, I'll pull out"

Wed, 10/19/2011 - 13:29 | 1789522 Forgiven
Forgiven's picture

Now that's funny!

Sat, 12/24/2011 - 16:17 | 2009445 haibop
haibop's picture

sure it is. Power4Home

Wed, 10/19/2011 - 12:03 | 1789182 Xibalba
Xibalba's picture

All will rejoice when Babylon fails.  

Wed, 10/19/2011 - 12:04 | 1789188 lizzy36
lizzy36's picture

Did they say anything about my pony?

Because I thought this weekend in Eurocrat land was all about rainbows and ponies.

Wed, 10/19/2011 - 12:05 | 1789190 Quintus
Quintus's picture

I heard it was Unicorns.

Wed, 10/19/2011 - 12:06 | 1789195 AngryGerman
AngryGerman's picture

pink elephants

Wed, 10/19/2011 - 12:13 | 1789240 machineh
machineh's picture

If they could just get TOTUS to attend, they'd have a full clown posse.

Wed, 10/19/2011 - 12:31 | 1789323 lizzy36
lizzy36's picture

Didn't you hear?

Totus got stolen by Mexicans, under the direction of Iran, got transferred to the BAC holding Company (allowed under rule 23), and got repo'd at the fed d/c window.

#DUH.

Wed, 10/19/2011 - 12:05 | 1789191 JW n FL
JW n FL's picture

 

 

http://www.youtube.com/watch?v=JXzKcS_9qi8

Max Keiser and co-host, Stacy Herbert, talk about the European penny drops as more banks need more bailouts while the public debt clock ticks up to $40 trillion. In the second half of the show, Max Keiser interviews Michael Betancourt about the threat that Occupy Wall Street presents to our modern form of capitalism that relies on ignorance and passivity in the population in order to operate schemes of fraud and bubbles.

 

Wed, 10/19/2011 - 12:05 | 1789192 knight99
knight99's picture

HP reference nice. So you are just a fact truth telling machine. You do believe in magic ;)

Wed, 10/19/2011 - 12:24 | 1789287 Pinky
Pinky's picture

Knight99 I was just about to post the same thing.  The HP series appears to be a fitting allegory for the neverending war between (what I call) the Crown and the Krauts.  Not exacly neatly divided camps, but they suffice.

Wed, 10/19/2011 - 12:05 | 1789193 AngryGerman
AngryGerman's picture

MERKEL SAYS THANK GOD THE FRENCHMAN IS GONE

Wed, 10/19/2011 - 12:06 | 1789196 jdelano
jdelano's picture

heheh.  Slytherin Quidditch.  Expounding upon the theme....

 

Sarkozy, Merkel, Timmaaay -- Fluffy

insolvency -- Voldemort

Wormtail -- Greece

Hagrid -- The german people

Snape -- ?

Malfoy -- ?

....

Wed, 10/19/2011 - 12:06 | 1789197 NotApplicable
NotApplicable's picture

So... the Euro is now officially TBTF?

This should end well.

Wed, 10/19/2011 - 12:07 | 1789198 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

What qualifies Angela Merkel to be able to state such things with authority?

What makes her more qualified than you or i to state such things?

Wed, 10/19/2011 - 12:11 | 1789237 slaughterer
slaughterer's picture

She has a physics degree, LOL.  If you look closely at most German ministers CVs, you will see that many did not study the sector they are in charge of.  You have former rock band managers in the government, Mommies, student activitists all charged with massive amounts of responsibility.  

Wed, 10/19/2011 - 12:37 | 1789351 trav7777
trav7777's picture

we are smart...we hire failed executives and community organizers for our responsibility positions

Wed, 10/19/2011 - 12:27 | 1789305 LeBalance
LeBalance's picture

That's Frau Monkey Woman to You!

Wed, 10/19/2011 - 12:12 | 1789199 Manthong
Manthong's picture

What's left but to suck in a big hit of hopium and buy in support of our wise bankers and their politicians so that a bright future is assured for us and our children.  

Or,, Maybe its time to join the safari in Ohio. 

http://www.kare11.com/news/article/942991/396/Exotic-animals-escape-Ohio-farm-owner-found-dead

 

Wed, 10/19/2011 - 12:07 | 1789203 vote_libertaria...
vote_libertarian_party's picture

...and yet stocks stay at yesterdays fraudulant rumor pump levels...

 

BASTARDS!!!

Wed, 10/19/2011 - 12:08 | 1789210 hedgeless_horseman
hedgeless_horseman's picture

Enter (once again) the invisible hand of The Fed with just enough help to keep the Euro from dying, but not too much, lest the US Treasury auctions face higher rates.

Wed, 10/19/2011 - 12:10 | 1789224 LawsofPhysics
LawsofPhysics's picture

Didn't the last German bund auction go badly?  Higher rates coming regardless.

Wed, 10/19/2011 - 12:37 | 1789300 hedgeless_horseman
hedgeless_horseman's picture

 

 

"Failed German Bund auctions?  What do I care?  The Germans (and any other bond issuer except England) are the enemy!  Oceania has always been at war with Continental Europe.  The Euro must not become an alternative to the Petrol Dollar, or else we will never see the end of non-cooperatives like Hussein, Ghaddafi, and Ahmadinejad.  America can't handle $20 gasoline and a 7% 10 year UST."

 

-Turbo Tax Timmy

Wed, 10/19/2011 - 13:50 | 1789602 schadenfreude
schadenfreude's picture

The fight between US / UK / EZ for BRIC's money to buy some debt is raging. I don't know if it's better to lose or to win this fight.  Just another shot please. I'll give you the money tomorrow....gimme just one more shot.....please!!!!!!!!!!!!

Wed, 10/19/2011 - 12:08 | 1789211 CrashisOptimistic
CrashisOptimistic's picture

STOP WITH THE BULLSHIT.  THEY HAVE NO MONEY.  IT'S OVER.

Wed, 10/19/2011 - 12:28 | 1789314 LeBalance
LeBalance's picture

they never did.  that's the fun part.

Wed, 10/19/2011 - 12:08 | 1789213 LawsofPhysics
LawsofPhysics's picture

more doublespeak.  Yawn.  Get busy dying or get busy living I guess.  Hedge accordingly.

Wed, 10/19/2011 - 12:08 | 1789216 YesWeKahn
YesWeKahn's picture

Market princed in not only the complete resolution of the european crisis, it also priced in a steady growth in the order of 4%.

Wed, 10/19/2011 - 12:08 | 1789217 Nostradamus
Nostradamus's picture

If they're not going to allow the euro to fail then that means they'll have to print infinite amounts of money.

Wed, 10/19/2011 - 12:12 | 1789227 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

The EUR/USD, gold and silver are all saying no at the moment. But, then again, they are fascist controlled markets. So, what they say, don't mean s**t.

Wed, 10/19/2011 - 12:24 | 1789294 Hearst
Hearst's picture

Just as the London Gold Pool http://en.wikipedia.org/wiki/London_Gold_Pool is now recognized as an operation to manipulate the price of Gold when the price spiked, so shall the current manipulation Gold and Silver are subject to on a daily basis be recognized.  The central banks comprising the London Gold Pool tried keeping the price of Gold fixed at $35 per oz.  Today they are trying to keep Silver Under $30 and Gold under $2000.  They will fail and the winners will be the ones who have held on to their metal.

 

From the link

"The London Gold Pool was the pooling of gold reserves by a group of eight central banks in the United States and seven European countries that agreed on 1 November 1961 to cooperate in maintaining the Bretton Woods System of fixed-rate convertible currencies and defending a gold price of US$35 per troy ounce by interventions in the London gold market.


The central banks coordinated concerted methods of gold sales to balance spikes in the market price of gold as determined by the London morning gold fixing while buying gold on price weaknesses. The United States provided 50% of the required gold supply for sale. The price controls were successful for six years when the system became no longer workable because the world's supply of gold was insufficient, runs on gold, the British pound, and the US dollar occurred, and France decided to withdraw from the pool. The pool collapsed in March 1968.

The London Gold Pool controls were followed with an effort to suppress the gold price with a two-tier system of official exchange and open market transactions, but this gold windowcollapsed in 1971 with the Nixon Shock, and resulted in the onset of the gold bull market which saw the price of gold appreciate rapidly to US$850 in 1980."

Wed, 10/19/2011 - 12:08 | 1789218 misterc
misterc's picture

No more yelling "price stabiliteeeeeeee"

Wed, 10/19/2011 - 12:09 | 1789219 gojam
gojam's picture

Treaty change will probably result in UK exit from EU.

Wed, 10/19/2011 - 12:10 | 1789230 LawsofPhysics
LawsofPhysics's picture

I thought the UK was already out of the EU, they still use pounds don't they?

Wed, 10/19/2011 - 12:35 | 1789333 gojam
gojam's picture

UK are in EU but not in Eurozone.

Gov have promised referendum if any further changes to EU Treaty.

Big mistake to ask people, they don't always give the answer you want. Likely outcome 75% vote to pull out.

Wed, 10/19/2011 - 12:51 | 1789391 reload
reload's picture

Cammeron having promised a vote if he won the election was forced to backtrack - probably because the co governing Lib Dems were squaealing - but possibly because he never intended to keep his promise. Now he says he does not want a vote `willy nilly` as if it were some frivoilous topic. If we get a vote we ARE GONE - from the festering EU. Will they let us vote? dont hold your breath.

Wed, 10/19/2011 - 13:14 | 1789466 plongka10
plongka10's picture

Parliament will be debating a motion to hold a referendum on UK membership of the EU next week. Cameron has instructed the Tory MPs to vote it down under a 3 line whip. Total hypocrite given his election pladge on a referendum.

Wed, 10/19/2011 - 12:11 | 1789233 AngryGerman
AngryGerman's picture

ohno, they wouldn't? seriously, who the fuck cares. they are also broke.

Wed, 10/19/2011 - 13:40 | 1789556 gojam
gojam's picture

You're right.

..............and yet the Eurozone keeps asking for money from the UK.

Wed, 10/19/2011 - 12:10 | 1789225 AngryGerman
AngryGerman's picture

50 billion trillion million EFSF!!

Wed, 10/19/2011 - 12:10 | 1789226 Shylockracy
Shylockracy's picture

1. Proven history of involvement with intelligence services   Check

2. Politically Correct, affirmative action apparatchik             Check

3. Backed by financial and media concerns                        Check

4. Has sold his/her people to financial interests                 Check

 

Who is this?

a. Dilma Rousseff

b. Angela Merkel

c. Barack Obama

d. All of the above

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