Leaked Draft Of Euro Summit Statement On EFSF

Tyler Durden's picture

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bbq on whitehouse lawn's picture

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.

Monkeyfister's picture



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!

hackettlad's picture

Who's going to deny this?  Do the British papers now have a monopoly on disinformation?

Fips_OnTheSpot's picture

German Bundestag said it's "70 pages" - so wtf?

danger close here's picture

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

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...

pendragon's picture

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

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...

pendragon's picture

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

pendragon's picture

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

EL INDIO's picture

It’s because the robots only understand English.

And ZeroHedge too.

Ethics Gradient's picture

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.

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.

Lord Welligton's picture

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.

Lord Welligton's picture

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.

pendragon's picture



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

MsCreant's picture

Ecofin? As in the Euro Coffin?

machineh's picture

[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!

bentaxle's picture

This doesn't sound like "orderly default." More like orderly default, fingers crossed.

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.

downtownshuter's picture

Is there anything more destabilizing than a government stabilisation mechanism?

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.

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.

DutchDude's picture

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!

Maxwell Smart's picture

"6. Further integration"


That happened to Poland in 1939.

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.


Gief Gold Plox's picture

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