Leaked Draft Of Euro Summit Statement On EFSF

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Thu, 10/20/2011 - 09:32 | 1792466 Ctrl-Alt-Defeat
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TL;DR Bitchez

Thu, 10/20/2011 - 10:20 | 1792717 bbq on whitehou...
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5. The President of the Eurogroup is elected in line with Protocol n°14 annexed to the Treaties. A decision on whether he/she should be elected among Members of the Eurogroup or be a full-time President based in Brussels will be taken at the time of the expiry of the mandate of the current incumbent.

Brussels the new DC only this time without a congress to worry about.

These people are insane.

Thu, 10/20/2011 - 09:33 | 1792468 Monkeyfister
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I scrolled through all of the posts for 10/19, and Zero Hedge seemed to miss the release of the GAO Audit of the Federal Reserve-- released yesterday. So, here it is: http://sanders.senate.gov/imo/media/doc/d1218%20%282%29.pdf

And here is the Sanders report based on the audit: http://sanders.senate.gov/imo/media/doc/101911%20-%20THE%20SANDERS%20REP...

The GAO has determined that some serious hanky-panky has been in play at the FED. Seriously.


Enjoy the reading!

Thu, 10/20/2011 - 09:33 | 1792470 hackettlad
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Who's going to deny this?  Do the British papers now have a monopoly on disinformation?

Thu, 10/20/2011 - 09:34 | 1792471 Fips_OnTheSpot
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German Bundestag said it's "70 pages" - so wtf?

Thu, 10/20/2011 - 09:34 | 1792472 danger close here
danger close here's picture

Sad state our world is in; maybe for the better.

Thu, 10/20/2011 - 09:36 | 1792482 youngman
youngman's picture

I thought there was going to be only one market moving news release a day...I can´t handle one every hour...my HFT crashed...

Thu, 10/20/2011 - 09:36 | 1792483 pendragon
pendragon's picture

why are the (french) leakers only using the uk press...surely this is a euro issue

Thu, 10/20/2011 - 09:39 | 1792507 littleguy
littleguy's picture

I think the Europeans are basically clueless and their press doesn't give a monkey's. In the UK we're predicting total armageddon, hence why our press are on top of it. It's a theory at least.... 

Really sad we're all getting dragged into the quagmire by the French and German 'tards...

Thu, 10/20/2011 - 09:42 | 1792531 pendragon
pendragon's picture

you're probably right. ambrose evans pritchard has been all over it.

Thu, 10/20/2011 - 09:42 | 1792532 pendragon
pendragon's picture

you're probably right. ambrose evans pritchard has been all over it.

Thu, 10/20/2011 - 09:43 | 1792537 EL INDIO
EL INDIO's picture

It’s because the robots only understand English.

And ZeroHedge too.

Thu, 10/20/2011 - 09:36 | 1792488 Ethics Gradient
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What you need to make things really interesting is a French President that suffers from Angry Short Person Syndrome and that needs help to recapitalise his banks and doesn't get it. To put the cherry on the cake, he should be suffering from pressures at home and sleep deprivation.

Thu, 10/20/2011 - 09:39 | 1792506 ISEEIT
ISEEIT's picture

Sounds like Soviet Union lite. This shit won't fly absent an actual massive realization of crisis. Love the part about screwing Ireland out of it's corporate tax rate. If this is what they release it's over.

Thu, 10/20/2011 - 09:45 | 1792551 Lord Welligton
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Closer coordination in the euro area is also warranted in taxation matters which are essential for greater convergence and coordination of euro area economies. We recall in this context that we are all constructively engaged in the discussions on the Common Consolidated Corporate Tax Base.

They can fuck off.

Thu, 10/20/2011 - 09:51 | 1792583 Lord Welligton
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This shit won't fly absent an actual massive realization of crisis

Said the same on another thread yesterday.

A "real" crisis will have to occur before parliaments and people agree to "ever closer union".

But I think they will lose control.

Thu, 10/20/2011 - 09:40 | 1792514 pendragon
pendragon's picture



the daily crucible a far more suitable publication to leak zee merde to

Thu, 10/20/2011 - 09:43 | 1792539 MsCreant
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Ecofin? As in the Euro Coffin?

Thu, 10/20/2011 - 09:43 | 1792540 machineh
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[p.m.: PSI to be prepared by the Eurogroup]

[p.m.: full lending capacity of the ESM/ decision making procedures - to be discussed by the Eurogroup]


Nothing here, folks. This is just one of those blank legal forms that you can buy at a stationery store.

Write in any figures you like, and declare victory!

Thu, 10/20/2011 - 09:44 | 1792545 bentaxle
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This doesn't sound like "orderly default." More like orderly default, fingers crossed.

Thu, 10/20/2011 - 09:49 | 1792556 DormRoom
DormRoom's picture

With this plan, how is the EU going to enforce fiscal change from countries that break the rule?   PIIGs have already shown moral hazard.  They know ECB will always bail them out, or else the EFSF blows up, and brings down the core.


Without full fiscal integration, you can not have proper enforcement mechanism.  So all this is lip-service, and grandiose posturing, until the EFSF financial bomb explodes.

Thu, 10/20/2011 - 09:54 | 1792592 downtownshuter
downtownshuter's picture

Is there anything more destabilizing than a government stabilisation mechanism?

Thu, 10/20/2011 - 10:14 | 1792682 Hansel
Hansel's picture

Is this it?  Is this what they will release on Sunday?  This says nothing other than they plan to have more meetings.

Thu, 10/20/2011 - 10:23 | 1792729 bbq on whitehou...
bbq on whitehouse lawn's picture

Its a document to remove sovernty of states and put in place a supreme leader.

Its insane. These are dangous people.

Thu, 10/20/2011 - 10:27 | 1792765 DutchDude
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bastards; only 1 sentence about totalitarian ESM; and it's about the fact finance ministers must sign it at the end of november! Pure evil!

Thu, 10/20/2011 - 11:54 | 1793294 Maxwell Smart
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"6. Further integration"


That happened to Poland in 1939.

Thu, 10/20/2011 - 12:03 | 1793347 Grand Supercycle
Grand Supercycle's picture

NASDAQ megaphone pattern on daily chart indicates big move ahead.

USD weekly chart remains bullish and as predicted for some time further dollar upside expected.


Thu, 10/20/2011 - 14:35 | 1794220 Gief Gold Plox
Gief Gold Plox's picture

This document seems like a plant for some reason. At least I fucking hope it is.

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