Merkel Crushes Hopes For German-Funded Pan European Socialism Once Again

Tyler Durden's picture

UPDATE: Nowotny just confirmed ECB's lack of confidence in the EU Summit and stomped on Greece's hopes for negotiation.

  • *ECB'S NOWOTNY SAYS DON'T EXPECT TOO MUCH FROM EU SUMMIT
  • *NOWOTNY SAYS ECB DOESN'T WANT TO CONTINUE BUYING BONDS
  • *NOWOTNY SAYS ECB FAVORS EFSF BOND PURCHASES OVER BUYING ITSELF
  • *NOWOTNY SAYS GREEK TALKS CAN'T START WITH WISH FOR MORE TIME

As we noted over the weekend, there really is only one voice on which to act in Europe (and plenty of noise that should be ignored) and that is Germany. This morning we already heard from Herr Schaeuble and Herr Siebert, but Frau Merkel has just come over the top with her hope-crushing reality that (via Bloomberg):

  • *SEIBERT SAYS MERKEL CONCERNED EU SEEKING 'EASY WAYS' ON CRISIS
  • *MERKEL SAYS ECONOMIC GROWTH MUST BE SUSTAINABLE
  • *MERKEL SAYS LIVING BEYOND MEANS LED TO EURO DEBT CRISIS
  • *MERKEL SAYS SHARED EURO-AREA DEBT 'COUNTERPRODUCTIVE' NOW
  • *MERKEL REJECTS JOINT EURO BONDS, JOINT EURO BILLS
  • *MERKEL REJECTS JOINT DEPOSIT INSURANCE IF MEANS JOINT LIABILITY

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SeverinSlade's picture

It's okay.  We still have Hopium to look forward to.  Crack addicts unite!

Harlequin001's picture

There is no 'joint' in 'union'...

gmrpeabody's picture

There is no 'i' in..., oh, wait.

potlatch's picture

legalize weed; the Germans may get so high they just go, "oh shit, numbers, ah fuck it dude, we cool."

theMAXILOPEZpsycho's picture

I truly hope the German electorate will respond by removing Merkel from office. As its exactly this kind of selfish thinking that lead to the rise of a certain Mr Hitler and WW2. Not every nation can be as productive as it's neighbor. But with the correct incentives, with the chance of borrowing, southern europe can become a competitive export powerhouse too. Germany needs to recognize this and recognize that no good ever comes from hoarding all ones cash and resources for oneself. They need to share the wealth, That way europeans can look forward to a spiraling success story, rather than an economic death spiral...

Ignorance is bliss's picture

I'll give the Southern Europeans money...in exchange for a BJ. I am sure Germany doesn't want to give something for nothing either.

Nussi34's picture

Mee too. Only virgins qualify!

StychoKiller's picture

Experience counts in BJs! :>D

Harlequin001's picture

You're just 'not cracking' it dude. MDB is just so much better...

and he's thick as fuck...

smb12321's picture

He's being sarcastic.  Nobody could be that damn dumb and still manage to walk.

Freddie's picture

He could be a union "worker" - specialfically and unionized govt worker.   The joke is none of these broke countries wants to cut their incredibly bloated govt workers payroll or benefits.  Govt workers are the sacred cow.  

Same with the USA unionized govt leeches starting with Wisc, IL, Calliepornia, NY, Detroit and the list goes on and on.

MeelionDollerBogus's picture

unionized SNORGTEE inspector.

Cranios's picture

Wrong, worng, and wrong. Hitler rose because external countries imposed fines and reparations upon them. In the present case, Germany is simply saying they aren't going to bail out countries that have spent themselves into oblivion with vote-buying socialist programs. Good for Germany and Merkel. You don't create wealth by spreading it around, you create wealth by investing it in the most productive use available, and that isn't buying daddy time off with pay, free healthcare and 6 week vacations for Frenchmen, Italians, and Greeks.

 

Try again.

smb12321's picture

Actually the Hitler part is not true since the Locarno Treaty (1925) normalized relations and essentially gave the green light to Germany for plundering eastern Europe.  Hitler obsessed with Germany's defeat but it was Liebenstraum that obsessed Hitler.

Of course you are correct about wealth.  Redistribution has been going on since markets began and always for the same reason (it "helps" the little guy).   In the end you run out of money (as the West has done) and the cries for spreading the wealth grow even louder.  Exactly like the French facing economic disaster so they shorten the retirement age.

noses's picture

Liebenstraum. Yeah. Right.

Moron. Use a dictionary.

Dismal Scientist's picture

The Germans also have 6 weeks holidays. They are competitive because they tooka cut to real wages over the last 10 years while the rest of Europe didn't. Now its the rest of Europe's turn...

TWSceptic's picture

You really couldn't be more wrong. Germany didn't get where they are by asking and receiving money from others. Your socialist view on the world has never solved anything, you are trying to solve problems with solutions which are responsible for the problems.

bagehot99's picture

What an absolute load of bollocks. Upon WHAT do you state that Southern Europe can be an economic powerhouse? They work 35 hour weeks, they take 8 weeks vacation and they retire at 57 on insanely generous pensions. I'm sorry to bring you into the real world but your assertion is based upon uninformed fairy stories of the kind that created the Euro. 

gmrpeabody's picture

You simply must pay attention for SARC if you want to survive around here, Grasshopper.

MillionDollarBonus_'s picture

Totally agree Maxi. Merkel is JUST like Margaret Thatcher - stingy, mean and brutal. Countries like Spain and Portugal are literally being conquered by austerity. This is the beginning of World War III, but this time it is a FINANCIAL war, not a physical war. Join the twitter revolution and fight back now: 

#StopMerkel

#StopRatingAgencies

#StopSpeculators

GCT's picture

MDB is Zerohedge's form of free entertainment njrod.  Almost everytime MDB posts a thread we all get a good laugh. Every internet forum must have its own clueless joker and MDB is ours!  Read his thread get a good laugh!

Hayabusa's picture

I have a friend who thinks we should all pay more taxes to help others... I told him he could volunteer to pay more taxes and give a much larger percentage of his income to the IRS if he felt that way, but added like him I was free to choose.  He became furious and insisted I pay as much as he, it was my "duty."  I pointed out he was attempting to take freedom from me by telling me how to allocate money I earned... he looked confused.  I wasn't confused, his cry for the haves to pay for the have nots free lunch is always the same... it falls under the heading of entitlement programs and those receiving the free lunch I've found are even more stingy with the entitlement money they receive than those who earned it in the first place - ironic isn't it?

potlatch's picture

I work 2 jobs and barely make my bills.  I apologize for being troublesome.

mrktwtch2's picture

merkel.."momma didnt raise no fool"..lol

SWRichmond's picture

MERKEL CONCERNED EU SEEKING 'EASY WAYS' ON CRISIS

Well, of course they did, they're politicians aren't they?

bdc63's picture

* MERKEL SEEN AT COLOGNE BEER GARDEN OVER WEEKEND WITH FIST FULL OF DEUTSCHE MARKS

Nussi34's picture

She likes fisting gay ClubMed politicians

Uncle Remus's picture

For A Few D-Mark More...

potlatch's picture

Freddie Mercury crossed a lot of line swhen he started favoring the Berlin night life.  Merkel was a ruthless dom in one club that he favored.  I blame her for Freddie's decline.

LawsofPhysics's picture

Leave the Euro Germany and let's focus on the U.S.S.A., that is when the real fun begins.  Moreover, if everyone in the world becomes a "producer" like Germany, who will be the "customers", a colony on Mars?  FAIL.

achmachat's picture

this gives a whole 'nother meaning to "soup nazi"

:-)

monopoly's picture

A Grandmother that says NO to the children. Very rare.

augustusgloop's picture

Grandmother says no to the Snopes' begging children. If only our politicians hadn't rolled over when Goldman et. al came begging in 2008. 

mrkolice's picture

please don't use the word socialism in this context. true, it's socialism for bankers, but we are seriously dying here.

LawsofPhysics's picture

Correct, the only welfare here is welfare for the banks and other broken and failed business models.  FYI, that is called fascism and not socialism.

potlatch's picture

but it's so much easier to blame lazy poor people.  can't we just blame lazy government workers and call it a day?

Cranios's picture

Government-paid healthcare, 4-6 weeks of vacation per year, and daddy time off for babies, and you think Europeans haven't had socialism up to now? What planet are you on?

LawsofPhysics's picture

This farce can't end fast enough if you ask me.  Burn it all the fuck down and let's find out precisely what the real value of everyone's labor really is.  Fucking bring it.

Cast Iron Skillet's picture

that's the kind of socialism we have in Germany. Seems to work OK as long as it's paid for up front and does not increase debt.

Blammo's picture

Germany has plenty of debt.... No clean governments anywhere that I'm aware of

N. B. Forrest's picture

Singapore and Canada are close.

potlatch's picture

sounds civilized to me.  you do realize, the wealthy never work, right?  Or do you think everyone works except people at departments of motor vehicles, who are the cause of our ills?

knightowl77's picture

I saw a report over the weekend, that the EU high court had ruled; that if you got sick on your vacation, you were entitled to another vacation...To me that sums the mess that is Europe