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Re: (EUEUEUEUEU) Germans can't understand debate against Obamacare/centralized federal healthcare

Posted by JohnL on Sat May 12 19:23:29 2012, in response to Re: (EUEUEUEUEU) Germans can't understand debate against Obamacare/centralized federal healthcare, posted by Olog-hai on Sat May 12 19:12:56 2012.

I’m a Nazi? Really? Thanks!

The only Nazi I think I am, is a grammar Nazi. Though I could work hard and become a soup Nazi. Nah. It has already been done.

But thanks for trying. And no thanks for being trying.

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Re: (EUEUEUEUEU) Germans can't understand debate against Obamacare/centralized federal healthcare

Posted by orange blossom special on Sat May 12 22:49:23 2012, in response to (EUEUEUEUEU) Germans can't understand debate against Obamacare/centralized federal healthcare, posted by Olog-hai on Sat May 12 17:40:01 2012.

So, will Obamacare mean that we don't need medical coverage on our auto policies anymore? Or that sick fee on colleges?

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EUEUEUEUEU "too cowardly" to confront homophobia—per home affairs commissioner

Posted by Olog-hai on Tue May 15 13:45:32 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

EU Observer

Malmström: Europe "too cowardly" to confront homophobia

2012.05.15 @ 18:58
By Philip Ebels
BRUSSELS — EU home affairs commissioner Cecilia Malmström has said Europe is "too cowardly" to stand up to mounting homophobia.

"I must say that what is going on now, in recent years, makes me quite scared. We hear ... homophobic speeches and reports of violence against LGBTI people. What we are witnessing is not a society [moving] towards openness and tolerance. It is rather the opposite," she said at an event in Brussels on Tuesday (15 May), on the eve of the international day against homophobia on 17 May.

"The main problem is the lack of people standing up for the values in Europe today. The amount of people who are too coward to question this rhetoric," she added.

"This goes for politicians, governments, companies, but also for ordinary citizens,” she added. “There is a lack of political leadership. [And] far too many ordinary citizens do not stand up against such developments."

Asked by EUobserver if the lack of political leadership also goes for the European Commission, she answered: "We could probably do more."

Malmström spoke at a meeting organised by Ilga Europe, a Brussels-based NGO campaigning for equal rights for lesbian, gay, bisexual, trans and intersex (LGBTI) people.

The event saw the launch of what is to become ILGA Europe's annual report on the state of play of LGBTI rights in Europe.

The survey looks at 42 legal criteria ranging from entitlement to adoption to compulsory sterilisation in the case of gender change and covers 49 European countries.

It said "great progress was achieved ... particularly in the fields of asylum and protection from violence."

But it added that "in some countries there is either no progress whatsoever, or worse." The press release accompanying the study also said "none of the countries in Europe can provide full legal equality for LGBTI people."

The UK was judged the most gay-friendly EU country, scoring 21 points on a scale from -12 to 30. It was followed by Germany (20), Spain (20), Sweden (18) and Belgium (17). The worst country was Moldova (-4.5), followed by Russia (-4.5), Armenia (-4), Azerbaijan (-4), Macedonia (-4) and Ukraine (-4).

Earlier this month, a gay rights activist was fined in Saint Petersburg for violation of a local law banning pro-gay "propaganda." A similar bill is currently making its way through Russia's national parliament.

The report comes with a so-called "Rainbow Map" of the old continent, going from deep-red in the east to green in the west. Spain (20) and Portugal (15) look very green in the south. But France (6) and Italy (2.5) are much less gay-friendly.

ILGA Europe director, Evelyne Paradis gave an upbeat statement.

"The homophobic rhetoric of today is mostly a reaction to the fact that the [LGBTI] movement has grown so strong," she told this website.

She added that the economic crisis and the fact that lots has been achieved already is making the EU commission "weak" on fundamental rights.

"We have a commissioner for fundamental rights; we have a charter of fundamental rights. And yet I have the feeling that before [the crisis], they talked about it more. We are entering the zone of complacency," she noted.


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Re: EUEUEUEUEU ''too cowardly'' to confront homophobia—per home affairs commissioner

Posted by AlM on Tue May 15 13:49:17 2012, in response to EUEUEUEUEU "too cowardly" to confront homophobia—per home affairs commissioner, posted by Olog-hai on Tue May 15 13:45:32 2012.

Is homophobia increasing, or is just the awareness of it increasing? Was there ever a better time to be gay in Moldova or Armenia?





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Re: (EUEUEUEUEU) Germans can't understand debate against Obamacare/centralized federal healthcare


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EUEUEUEUEU attacking Israeli settlement products

Posted by Olog-hai on Tue May 15 14:13:23 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

The antisemitism of the EU (and the lies) keeps getting sicker and sicker.

EU Observer

EU takes aim at Israeli settlement products

2012.05.15 @ 09:22
By Andrew Rettman
BRUSSELS — EU foreign ministers have "warned" Israel that they will take a tougher approach to exports originating in illegal settlements on Palestinian land.

The ministers, in a statement on Monday (14 May) detailing Israel's long-term campaign to expropriate Palestinian farmers in the fertile West Bank, said: "The EU and its member states reaffirm their commitment to fully and effectively implement existing EU legislation and the bilateral arrangements applicable to settlement products."

Under current EU law, settlement products are excluded from preferential import tariffs granted in the 12-year-old EU-Israel association agreement.

Israel is obliged to indicate the originating postcode of each shipment, while member states' customs authorities cross-check the information against a list of settlement postcodes to see which tariffs apply.

According to Human Rights Watch's Jerusalem-based analyst Bill Van Esveld, Israeli authorities get around the rules by coding settlement products under the firms' corporate headquarters in Israel proper or by bundling them together with Israel-proper-origin goods. Meanwhile, the lack of clear product-origin labels makes it hard for European consumers to choose whether or not to buy the items.

"You can find white wine made in the Golan Heights in [leading] supermarkets in Belgium," Stuart Reigeluth, an activist with the Brussels-based NGO the Council for European Palestinian Relations, told EUobserver, referring to Syrian land annexed by Israel in 1981.

According to commission figures, the EU is Israel's number two import destination after the US, buying some €11.6 billion worth of Israeli goods each year. The statistics do not give a breakdown in terms of settler goods.

An EU diplomat told this website that the ministers' statement on imports "should be seen as a warning to Israel."

He noted that the "substantially tougher" language in the EU communique was prompted by acceleration in settlement activity last year, putting in danger the EU's preferred solution of a separate state for Palestinians alongside Israel.

He added that "the usual suspects" — referring to the Czech Republic, Italy and the Netherlands — were joined by Bulgaria and Romania in trying to water down the language at the last minute.

For his part, Irish foreign minister Eamon Gilmore told press after Monday's meeting in Brussels that Dublin might propose an outright import ban on settler products during its EU presidency in early 2013.

"I think we may have to look at the question of banning products from settlement areas into the EU. We have always resisted the idea of boycotts in relation to Israel. But I think a distinction has to be drawn here between Israel and the settlements," he said, according to the Irish Times.

EU ambassadors based in Ramallah have long advocated a boycott, as well as a visa ban on settler radicals, in internal EU reports. But their ideas never saw the light of day.

Monday's EU communique also reiterated EU support for Israeli security and castigated Palestinian militants for rocket attacks out of Gaza.

The Israeli foreign ministry, in a statement published the same day, said the EU criticism is "based on a partial, biased and one-sided depiction of realities on the ground." It added that "Israel is committed to the wellbeing of the Palestinian population."


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Re: EUEUEUEUEU attacking Israeli settlement products

Posted by AlM on Tue May 15 14:17:55 2012, in response to EUEUEUEUEU attacking Israeli settlement products, posted by Olog-hai on Tue May 15 14:13:23 2012.

Whether it's good foreign policy or not, what is antisemitic about refusing favored status to products made by Israel in teritories not recognized by EU member countries (or the US for that matter) as being part of Israel?



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Re: EUEUEUEUEU attacking Israeli settlement products

Posted by Mitch45 on Tue May 15 14:54:13 2012, in response to EUEUEUEUEU attacking Israeli settlement products, posted by Olog-hai on Tue May 15 14:13:23 2012.

Hell, why not? Take some focus off themselves.

Imagine what would happen if there were no Jews or Israel. Where would the world turn their anger?

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Re: EUEUEUEUEU attacking Israeli settlement products

Posted by Olog-hai on Tue May 15 14:59:52 2012, in response to Re: EUEUEUEUEU attacking Israeli settlement products, posted by Mitch45 on Tue May 15 14:54:13 2012.

The "Anglo-Saxon" world is their next target. You should see the racism against them.

Never mind their openly lying and calling settlement land "Palestinian land" as if it were a fait accompli.

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Re: EUEUEUEUEU attacking Israeli settlement products

Posted by AlM on Tue May 15 15:10:19 2012, in response to Re: EUEUEUEUEU attacking Israeli settlement products, posted by Olog-hai on Tue May 15 14:59:52 2012.

Never mind their openly lying and calling settlement land "Palestinian land" as if it were a fait accompli.

That is a statement of opinion that you happen to disagree with. People who call themselves Palestinian used to occupy that land. Presidents Reagan, Bush, Clinton, Bush, and Obama, among others, have not acknowledged Israel's right to that land.






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EUEUEUEUEU's economic crisis causing rise of far left and far right

Posted by Olog-hai on Wed May 16 16:43:23 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

And both are rabidly anti-Israel, never mind very much alike except on the support of state religion.

Jerusalem Post

Extremism in Europe

By JPOST EDITORIAL
05/08/2012 00:02

Extremist parties on both the far-Left and the far-Right are on the rise, apparently exploiting the economic turmoil that has swept across the debt-ridden continent.

A worrying trend is sweeping Europe. Extremist parties on both the far-Left and the far-Right are on the rise, apparently exploiting the economic turmoil that has swept across the debt-ridden continent. The co-opting of extreme solutions to the Muslim immigration issues also seems to be playing a part.

In France, a number of anti-Zionist parties on the far-Left made a strong showing in the first round of voting in April. And in the wake of socialist François Hollande’s victory over Nicolas Sarkozy in Sunday’s presidential race, there is a real possibility that these parties will be included in Hollande’s government coalition.

Richard Prasquier, the president of the CRIF umbrella group of French Jewry, has warned of the need for caution regarding the rise of the Left in France. While Hollande, has made the right public comments in condemning anti-Semitism and professing admiration of Israel, some of the parties who are supposed to be partners in Hollande’s coalition “are not friends of Israel,” he said.

These Trotskyites, anarchists and Greens, who succeeded in garnering 15% of the vote in the first round of voting, have collaborated with Islamists. Shimon Samuels, Director for International Relations of the Simon Wiesenthal Center, has testified to seeing representatives of these parties “marching with Hezbollah banners, incongruously invoking Allahu Aqbar” in demonstrations in France and outside the anti-globalization World Social Forum in Brazil, and in India.


Cause for additional worry in France is the surprising success of Marine Le Pen’s National Front, which received 18% of about 11 million votes in the first round. And more support for the extreme Left and Right is expected in the upcoming legislative elections and in the regional and local ballots.

Meanwhile, last Thursday in London’s mayoral election, rabidly anti-Zionist Ken Livingstone — who has excused suicide attacks and accused Israel of ethnic cleansing — nearly defeated rightwing incumbent Boris Johnson. Particularly worrying, was the precedent set. Livingstone managed to receive 48% of the vote on a campaign that appeared to be based on catering to one million Muslim votes by alienating some 200,000 Jews. It might not have worked for Livingstone, but promoting an anti-Israel position to garner Muslim support could become a tactic in other cities where there is a high percentage of Muslim residents.

In Greece, the neo-Fascist Golden Dawn party is poised to win 7% of parliament seats, easily passing the 3% threshold. In the 2009 elections Golden Dawn received just 0.29% of the vote. In a June article on Greece’s political crisis that appeared in Foreign Policy, Golden Dawn was seen as having “no prospect of winning parliamentary seats.”

But as support for mainstream parties in Greece has waned, the space for the fringe has widened. Greeks are increasingly attracted to parties that promise to crack down on crime and the migrants who supposedly cause it.

Inevitably, the rise of extremism – whether on the Right or on the Left – is bad for the Jews. Benjamin Albalas, head of the Jewish community in Athens voiced his concern over the rise of parties like Golden Dawn. He noted that while there have not been any attacks against Greece’s estimated 5,000 Jews, he was pessimistic: “Now they are attacking Muslims, immigrants, homosexuals and foreign workers, but not the Jewish people. Not yet.”

Recent developments in Europe point to a worrying trend of far-Left and far-Right empowerment.

As was the case in the wake of World War I, Europeans’ support for extremist parties seems less about identification with their goals and values and more to do with punishing mainstream candidates for perceived mistakes. But even a throwaway vote for radicalism is liable to grant these extremists undeserved respectability and legitimacy.

Can it be that Europeans have so quickly forgotten the lessons of the recent past?


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(EUEUEUEUEU) Greeks withdraw $898 million from banks on Monday; fears of runs on bank

Posted by Olog-hai on Wed May 16 17:24:56 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

Wall Street Journal

EUROPE NEWS | Updated May 15, 2012, 5:59 p.m. ET

As Bank Withdrawals Surge, Athens Relies More on ECB

By BRIAN BLACKSTONE And DAVID ENRICH
Greek depositors withdrew €700 million ($898 million) from the country's banks on Monday, fueling fears of a bank run amid the growing political disarray.

With deposits falling, Greek banks become even more dependent on the European Central Bank to meet their funding needs, exposing the central bank to potentially huge losses if Greece leaves the euro area.

Greek President Karolos Papoulias told the country's political leaders that bank withdrawals plus buy orders received by Greek banks for German bunds totaled some €800 million on Monday, a transcript of his comments said. A central bank official confirmed the figures.

"The strength of banks is very weak right now," Mr. Papoulias said, citing a conversation he had with Greek central-bank Gov. George Provopoulos.

Monday's deposit withdrawal far outpaced Greek banks' steady decline in deposits since the start of the country's debt crisis in 2009, as depositors withdraw cash and transfer funds overseas. In the past two years, deposit outflows have generally averaged between €2 billion and €3 billion a month, though in January they topped €5 billion.

The latest data from the Greece's central bank show that total deposits held by domestic residents and companies stood at €165.36 billion in March.

With domestic funds drying up—and access to interbank lending markets shut down—Greek banks have become heavily dependent on the European Central Bank for funding needs. Greek banks borrowed €73 billion through the ECB's lending operations in January, say Bank of Greece figures, and an additional €54 billion via the ECB's emergency-lending facility, which allows Greece's central bank to lend money against a wider pool of collateral.

Risks associated with emergency lending remain with the Greek central bank and ultimately the Greek government and not the eurozone as a whole, as long as Greece is a member. Total borrowing from the ECB accounts for more than one-half of Greece's gross domestic product.

The ECB's emergency-lending facility isn't intended as a long-term fix. National central banks must get approval each month that they want to let their banks access the facility from the ECB's governing council, which can veto use of the program.

If Greece installs an antibailout government that reneges on its austerity promises, it would almost certainly be cut off from ECB funding. The ECB briefly rejected Greek bonds from its normal refinancing operations earlier this year after Athens was placed in default by major ratings agencies following its private-sector bond restructuring. Greek banks were still eligible for emergency funding.

Eurozone officials have threatened to withhold rescue funds for Greece if it refuses to cut spending and make other reforms it promised as part of its latest bailout. The result would likely be another default on Greece's bonds, cutting it off from regular ECB funds.

With the ECB's emergency loans intended for solvent banks facing only temporary funding problems, access to even this window would most certainly be shut down as well.

Greece's situation illustrates how quickly circumstances can change for financial institutions that rely on customer confidence.

So far, at least, banks in other troubled euro zone countries aren't facing the same sort of acute liquidity problems that Greek institutions are suddenly suffering.

For example, in Portugal, which after Greece is considered among the candidates to one day leave the euro zone, banks actually have managed to increase their deposit bases. The governor of the Bank of Portugal recently said that household deposits rose by €11.6 billion last year and are still growing this year. Portugal's largest lender, Banco Espirito Santo, said Tuesday that its deposits at the end of March were up 17.7% from a year earlier.

Among Irish banks, flows of private sector deposits "have been broadly stable for some time now," although they remain in negative territory, the Central Bank of Ireland wrote in its quarterly report last month.

As long as the withdrawal of departures is a trickle, rather than a flood, banks generally can manage to replace the funding, even if they are locked out of the capital markets. Among their options, they can raise interest rates they offer on deposits or replace lost funds by borrowing from central banks.

In an extreme case, governments can impose capital controls to keep deposits from going abroad.

—Stelios Bouras, Nektaria Stamouli and Patricia Kowsmann contributed to this article.


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(EUEUEUEUEU) Angela Merkel gives self, German ministers, pay raise

Posted by Olog-hai on Wed May 16 20:23:03 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

What happened to austerity??

The Local

Merkel gives self and ministers pay raise

Published: 16 May 12 15:22 CET
German Chancellor Angela Merkel will soon have an extra €930 in her pocket each month, after the country's cabinet decided on Wednesday to award themselves their first pay raise for over a decade.

Merkel, her ministers and their parliamentary secretaries of state will see their wages rise in three stages between now and August 2013, until they all get 5.7 percent more. It is the first pay raise that the German cabinet has taken in twelve years.

The chancellor's total pay is set to rise from €16,152 per month before tax to around €17,016. This does not include her €1,022 “special duties” allowance.

Ministers' pay will rise by €750 euros to around €13,795 a month. This will amount to a bump of around €9,000 over a year.

Until now, ministers’ wages have been set relative to those of civil servants. And despite considerable protest about the idea of separating them, particularly over the past two years, the cabinet decided to go ahead with the change.

Merkel, recently named the world's most powerful woman by Forbes Magazine, is famously down-to-earth and was snapped earlier this month shopping on her own for groceries.

She has been the chief advocate of austerity in the eurozone during the debt crisis, earning her criticism from some quarters, notably Greece and more recently France, whose new leader François Hollande wants to focus on growth.


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(EUEUEUEUEU) Germany talks of sending "protection forces" to Greece (reoccupation)

Posted by Olog-hai on Tue May 22 19:58:43 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

german-foreign-policy.com

On the Relevance of Democracy

2012/05/21
In the run-up to new elections in Greece, the German elite is discussing various scenarios involving the use of force to ensure control over Athens, including the establishment of a protectorate or the deployment of "protection forces" in that southern European country. The German austerity dictate, pushing Greece into destitution, is provoking growing popular resistance, which, apparently, can no longer be suppressed with democratic means. Berlin has failed in its efforts to force Athens into subordination by threatening to withdraw the euro, as much as with its demand that Greece combines its parliamentary elections with a referendum on the question of remaining in the eurozone. Berlin categorically rejects the option of retracting the austerity dictate and replacing it with stimulus programs, as is being demanded by leading economists worldwide, even though the exclusion of Greece from the eurozone threatens to push the currency itself into an abyss.

A Last Chance

After all attempts to form a government in Greece failed, last week, it appears that in the elections set for June 17, those forces will win a majority that are strictly opposing the German austerity dictate. Even with their slight majority in parliament, the three parties willing to implement the austerity program have not succeeded in forming a government. Polls are predicting their defeat. The fact that a majority in the Greek population would like to keep the euro is seen in Berlin and Brussels as a last chance to achieve a change in public opinion. Already before the announcement of new elections, German Finance Minister Wolfgang Schäuble declared that the Euro zone could easily cope with Greece's withdrawal. EU Trade Commissioner Karel De Gucht has just confirmed that the EU Commission and the European Central Bank (ECB) are already preparing for Greece's withdrawal. And, Jean-Claude Juncker, head of the Euro Group, is quoted saying that "if we would take a poll with secret ballots on Greece remaining in the eurozone, an overwhelming majority would vote against it." The new elections are Greece's "last chance." If they do not furnish a majority for the austerity dictate, "it will be over."

No Right to Respect

In addition, Berlin has obviously applied pressure on Athens to combine a referendum on remaining in the eurozone with the elections. This tactic is aimed at weakening the opponents of austerity. According to reports, German Finance Minster Schäuble made this proposal already last Monday to his Greek counterpart at the meeting of the Euro finance ministers. This proposal is obviously supported by the Chairman of the CDU/CSU parliamentary group in the Bundestag, Volker Kauder ("Now German will be spoken in Europe"). A Greek government spokesman confirmed that Chancellor Angela Merkel urged Greek President Karolos Papoulias last Friday to implement the German plan for a Greek referendum, whereas in November 2011, Berlin briskly rebuffed the Prime Minister at the time, Giorgos Papandreou, when he publicly announced his proposal to hold a referendum. This led to his demise. Berlin's open interference is met with outrage in Athens. The Greek population has a "right to respect," the chairperson of the conservative Nea Dimokratia, Antonis Samaras, was quoted as saying. And the chairman of the opposition party Syriza, Alexis Tsipras, declared that Berlin is acting as if Greece "is a protectorate."

Euro Dusk

Berlin is gruffly rebuffing every deviation from the severe austerity policy ruining Greece — in spite of the fact that this will accelerate the collapse of the entire eurozone. A few days ago, the economist and Nobel laureate Paul Krugman, was not the first to describe such a scenario. Soon, "most likely, next month," Greece will exit the eurozone, according to Krugman. Immediately thereafter, a comprehensive capital flight can be expected to Germany — at least from Spain and Italy, out of fear of also these two countries' economic collapse. This would necessitate drastic measures — limitations of money transfer or new support measures for Spanish and Italian banks, and possibly both. In the long run, however, support particularly for the Spanish economy with stimulus programs cannot be avoided. This would mean a strategy change for combating the crisis that Berlin from the very beginning has been trying to avoid at all costs. "Germany has the choice," explains Krugman, accept the change of course or "the end of the Euro" is imminent. Concerning the time span of the "Euro dusk," Krugman says, "we are speaking in terms of months, not years."

Protectorate

The sectors of the German elite who refuse to consider this change of course proposed by Krugman and numerous other experts outside Germany are now publicly debating scenarios involving the use of force. In a newspaper interview early this month, the director of the prominent Hamburg Institute of International Economics, Thomas Straubhaar, called for establishing a protectorate in Greece — "regardless of the outcome of the elections." The country is a "failed state," he says, which is unable to raise itself "to a new start" under "its own steam." Athens needs "help in establishing viable state structures." It therefore must be transformed into "a European protectorate." "The EU must do it," affirms Straubhaar. The EU "would have to help Greece modernize its institutions at every level, particularly with administrative staff, tax experts, and tax inspectors." However, re-founding Greece would demand "intuition" to "overcome national pride, conceit, and the resistance of interest groups." This is referring to a sovereign democracy, a German ally in the EU and NATO.

Putsch

In the meantime, there is even discussion of a putsch in Athens. Greece threatens to sink into complete chaos, warned a long time companion of Germany's former Foreign Minister, Joseph Fischer, Daniel Cohn-Bendit, a European parliamentarian for the French Green Party. Cohn-Bendit explained that it is impossible to avoid extensive foreign interference. "If you leave the Greeks to muddle through alone, you are risking a military putsch." German commentators are drawing comparisons to the situation in the later stages of Germany's Weimar Republic. "In the Greek situation, the worst case would be a reversion to a dictatorship," warned an influential commentator. "This scenario becomes more probable as instability grows." In reference to the links between a possible dictatorship and Berlin's austerity dictate, the commentator writes, "already today, it seems as though Merkel's austerity policy can, at best, be imposed on the streets of Athens by force of arms."

Protection Forces

Last week, a leading German daily discussed the issue of dispatching troops to Greece. Should the country go bankrupt, it would then, as a "'failing state,' … be less in a position" to shore up its borders against migrants, writes the Frankfurter Allgemeine Zeitung. Just recently, the EU Commission announced that it finds itself forced to prolong the mission of its EU border troops at the Greek/Turkish borders. If Athens "should no longer be able to pay its officials, or can pay only in Drachmas," the situation risks turning "chaotic." The country could possibly "be rocked by rebellions." "Help for Greece would then no longer be on credit, but be transformed into a sort of humanitarian emergency aid," prophesied the journal in its front-page lead editorial. "Hopefully, an international protection force, such as is stationed in the teetering countries further to the north, will not become an option."


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Re: (EUEUEUEUEU) Germany talks of sending ''protection forces'' to Greece (reoccupation)

Posted by JayMan on Tue May 22 21:27:55 2012, in response to (EUEUEUEUEU) Germany talks of sending "protection forces" to Greece (reoccupation), posted by Olog-hai on Tue May 22 19:58:43 2012.

Hmmm....

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Re: (EUEUEUEUEU) Germany talks of sending ''protection forces'' to Greece (reoccupation)

Posted by Fred G on Tue May 22 22:01:40 2012, in response to (EUEUEUEUEU) Germany talks of sending "protection forces" to Greece (reoccupation), posted by Olog-hai on Tue May 22 19:58:43 2012.

I think they loan them money, get shwarma and spanikopita as collateral, maybe a little Ouzo and everything's jake.

your pal,
Fred

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(EUEUEUEUEU) Majority of Germans regard Israel as "aggressive", feel no special obligation anymore

Posted by Olog-hai on Wed May 23 19:39:01 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

The Local (AFP)

Most Germans view Israel as 'aggressive'

Published: 23 May 12 15:47 CET
A large majority of Germans view Israel as "aggressive" and think Germany no longer has a special obligation to the Jewish nation, according to an opinion poll released Wednesday ahead of a state visit by Germany's president.

The survey, conducted by Forsa for Stern news magazine, found that 59 percent of those questioned viewed Israel as "aggressive", an increase of 10 percentage points over a similar survey in January 2009.

Seventy percent said they believed Israel pursued its interests without consideration for other nations, Stern said in a pre-release of its Thursday edition, up 11 percentage points from three years ago.

And 67 years after the end of the Nazi regime, 60 percent said Germany had no special obligation towards Israel, while a third believed the contrary, according to the survey of 1,002 people conducted on May 15 and 16.

New German President Joachim Gauck is due to make his first state visit to Israel and the Palestinian territories from May 28 to 31.

The visit comes in a particularly sensitive time, after tensions over Jewish settlements and a few weeks after the publication of a highly critical prose poem by German Nobel laureate Günter Grass.

German Chancellor Angela Merkel has been sharply critical of the Israeli government's settlements policy in east Jerusalem and the West Bank, calling it an obstacle to fruitful peace talks with the Palestinians.

And last month Grass sparked outrage when he published a poem in which he said he feared a nuclear-armed Israel "could wipe out the Iranian people" with a "first strike" and described the Jewish state as the region's biggest threat to peace.

Although his work came in for widespread condemnation in Germany, a subsequent move by the Israeli government to declare the 84-year-old author of "The Tin Drum" a persona non grata was also roundly criticized.


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(EUEUEUEUEU) Berlin proposes "special economic zones"

Posted by Olog-hai on Fri May 25 17:51:23 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

Der Spiegel

05/25/2012
Six-Point Growth Plan

Berlin Proposes European Special Economic Zones

With Europe beginning to look for alternatives to its exclusive focus on austerity, the German government has developed a six-point plan to foster economic growth in Europe, SPIEGEL has learned. Included in the proposal is the creation of special economic zones in struggling eurozone countries.

SPIEGEL has learned that the German government has developed a proposal calling for special economic zones to be created in crisis-plagued countries at the periphery of the eurozone. Under the plans, foreign investors could be attracted to those zones through tax incentives and looser regulations.

The proposal is part of a six-point plan the German government plans to introduce into the discussion on measures to stimulate economic growth taking place in the European Union. The proposal also calls for the countries to set up trusts similar to the Treuhand trust created in Germany at the time of reunification that then sold old off most of former East Germany's state-owned enterprises in order to divest those countries' numerous government-owned companies.

The plan also calls for the countries to adopt Germany's dual education system, which combines a standardized practical education at a vocational school with an apprenticeship in the same field at a company in order to combat high youth unemployment.

The plan recommends that countries with high unemployment also adopt reforms undertaken by Germany, including a loosening of provisions that make it difficult to fire permanent employees and to create employment relationships with lower tax burdens and social security contributions.

SPD Demands Growth Components

Frank-Walter Steinmeier, the center-left Social Democratic Party's (SPD) floor leader in parliament, has made greater economic stimulus measures a precondition for his party's support for the European fiscal pact agreed to in March by 25 EU countries that is still awaiting ratification in the Bundestag. "Without taxation of the financial markets, without a strengthening of investment power and without an expansion of the loan volume available to the European Investment Bank, the SPD will not go down the same path as the federal government," Steinmeier told SPIEGEL. The comments marked the first time the opposition leader linked growth measures to support for the fiscal pact. Previously, he had fought other members of his party making that demand.

"I guarantee you, there will only be a fiscal pact if it includes complementary growth elements," Steinmeier said. "If they aren't in it, then the SPD will not agree to it." The demand puts Merkel in a corner given that passing the fiscal pact will require a two-thirds parliamentary majority. The chancellor will need support from the ranks of the opposition.

"Other conditions are that the concerns of the federal states need to be cleared up and that the question of parliamentary participation must be clarified," he said, referring to the voice that would be given to the Bundestag in making decisions relating to the fiscal pact. Steinmeier also called for the creation of a European debt repayment fund. He said that euro bonds, which are currently being promoted as a way out of the crisis by French President François Hollande, could only be introduced "if they come with strict conditions and we have harmonized European economic and finance policy."

dsl/SPIEGEL


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(EUEUEUEUEU) Berlin-Belgrade-Moscow axis forming (Molotov-Ribbentrop part deux getting stronger)

Posted by Olog-hai on Fri May 25 18:30:37 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

German-Foreign-Policy.com

Axis Berlin-Belgrade-Moscow

2012/05/23
The newly-elected Serbian president, Tomislav Nikolić, is offering Berlin an exclusive cooperation within the framework of German-Russian cooperation. Nikolić, a nationalist, with roots in the extreme right and good contacts to Moscow, declared that his country could serve as a manufacturing site for German companies to re-export their goods to Russia at reduced customs tariffs. Germany would "not need the EU" for this form of eastern cooperation. Serbia is one of German companies' favorite sites in Eastern and Southeastern Europe. While the Serbian population is sinking into poverty — almost 25 percent are unemployed; hundreds of thousands of workers have to content themselves with a monthly minimum wage of €150 — most German companies are registering an increasing profit. Observers are not expecting a change in the economic framework due to the change of government. The newly-elected Serbian President's party is collaborating with the extreme-right-wing German nationalist Austrian Freedom Party (FPÖ).

Serbia's Route to Europe

The German foreign minister calls on the Serbian President elect Tomislav Nikolić, who won the elections last Sunday with 50.2 percent of the votes, to maintain Serbia's commitment to the EU. Berlin and Brussels had opposed Nikolić for a long time. The nationalist had been one of the fiercest opponents of Kosovo's internationally illegal secession, promoted by Berlin. He always supported Belgrade's orientation on Moscow. Recently however, he made headlines, when he changed his strategy to close cooperation with Germany and the EU. On the occasion of the NATO summit on Monday, Guido Westerwelle said that it is "crucial" that "Serbia continues to pursue a pro-European course." The German foreign minister explicitly thanked the incumbent President Boris Tadić (Demokratska Stranka, DS), who lost the elections with 46.8 percent of the votes, "for his relentless engagement along Serbia's route to Europe."1

Ever Poorer

Under Tadić's leadership, until now Berlin's preference in Belgrade's establishment, Serbia's economy has collapsed dramatically, resulting in dramatic social depredation. The effects of the European economic crisis, which began in 2008, have sharpened the situation created by his neo-liberal privatization policy of shutting down many essential enterprises, causing the liquidation of hundreds of thousands of jobs. Unemployment rose from already 14 percent high in 2008 to close to 25 percent currently. In Serbia (with a population of 7.2 million), nearly a million are out of work. The German GIZ development agency, which is advising the former industrialized country, estimates that "due to hidden unemployment" the "unofficial" unemployment rate is "much higher."2 Already in the spring of 2011, unemployment among the youth was — officially — rated at 41 percent. Of the approximately 1.8 million employees, in 2010, 130,000 were working without pay, and 400,000 were working for the minimum wage — approximately €150 per month. Currently, the average monthly wage is at €350. This severe impoverishment led to a recent wave of mass protests and strikes. In reference to the government record of its long-time Serbian protégé, even the conservative CSU-affiliated Hanns Seidel Foundation declared that "DS chairman and Serbia's President, Boris Tadić, had concentrated practically the entire power of state in his own hands and therefore, he bears responsibility for the social and economic misery, the unemployment, the corruption and the unsuccessful privatization."3

Austerity Policy

An economic change of policy is not to be expected from Nikolić (Srpska Napredna Stranka, SNS), winner of the elections. According to a study produced by the Left-Party-affiliated Rosa Luxemburg Foundation, the question of whether the "neo-liberal approach of unconditional integration onto the world market and rivalry for foreign investments" can "initiate sustainable growth and create the leeway necessary for an active social policy," plays "almost no role" in public Serbian discourse.4 "Even the privatization policy practiced until now," is "not basically put into question" — not even by Nikolić, who differs from Tadić only in the fact that he places more significance on future Russian investments. In regards to the anticipated development, the study writes that "the austerity policy and the budgetary discipline will continue to be imposed under the surveillance of the creditors, the IMF, World Bank and the EU." There are no indications that Nikolić will deviate from this course.

Increasingly Profitable

German enterprises in Serbia are therefore satisfied. According to a February 2012 poll, around two-thirds of the German companies in Serbia could announce an increase in their receipts and assets for 2011, while the population of the country is being driven ever deeper into poverty. This year, more than half of them are already anticipating higher profits. German direct investments in Serbia amount to around €1.5 billion, according to the German-Serbian Economic Association. In 2011 alone, there were €63 million in new investments. More new investments are expected both this year and over the next few years.5 Serbia today is one of "the most favored investment locations for German companies in Central and Eastern Europe,"6 reported the CEO of the German-Serbian Economic Association. In fact, Germany is not only Serbia's primary investor, but also its most important trading partner. It is the largest customer for cheap Serbian products — 11.3 percent of the country's total exports — and the second largest supplier (10.8 percent) just behind Russia, which, thanks only to its energy resources exports, places ahead of Germany. According to Germany Trade and Invest, Germany's official foreign trade agency, only the Euro crisis could jeopardize a continuation of this growth7 — if the southern Euro countries are forced to reduce their Serbian imports due to the German austerity policy.

The European Leading Power

Particularly, German companies can benefit from Belgrade's change of government. Just a few days ago, the new president Nikolić, told a very influential German daily that he considers "Germany to be the European leading power." His "first visit to a western capital … will take him to Berlin." Germany bears "a great responsibility for Serbia" and therefore, should engage itself accordingly. Nikolić, who will speak this Friday at the congress of the ruling United Russia Party, and who maintains close contacts to Moscow, offers Serbia, as a manufacturing site, to Berlin within the framework of a German-Russian-Serbian cooperation. "Germany does not need the EU to cooperate with Russia," declared Nikolić, referring to German-Russian cooperation in the recent past. "Germany and Russia could also cooperate via Serbia. Germany can establish factories here and export to Russia," even "at reduced customs tariffs," thanks to Serbia's ties to Russia.8 Nikolić's offer is strategically conceived. Should the Euro crisis lead to a permanent weakening of the EU, an expansion of German-Russian cooperation could play a central role.

No Friend of Hitler

In view of this perspective, the cooperation between Nikolić and his SNS Party and the German nationalist Austrian Freedom Party (FPÖ) is of particular significance. In June 2011, SNS Chairman Nikolić and FPÖ Chairman Heinz-Christian Strache signed a Partnership Agreement in Vienna. This agreement includes as its objective "the maintenance of national identity" as well as the "effective protection of Europe against the patronization by super-power imperialism,"9 the latter obviously referring to the United States. According to SNS and FPÖ "Europe," should take a greater distance to the USA. Like Nikolić and the SNS, the FPÖ is also clearly oriented toward a Europe under German leadership. (german-foreign-policy.com reported.10) Albeit, during the signing of the Partnership Agreement ceremony in Vienna, Nikolić made clear that he has a "negative opinion of Hitler." In this question, he is totally "indifferent to what his host would say."11
  1. Westerwelle fordert von Nikolic Fortführung von Pro-Europa-Kurs; www.welt.de 21.05.2012
  2. Serbien; liportal.inwent.org
  3. Hanns-Seidel-Stiftung: Politischer Sonderbericht, Projektland Serbien, 20.04.2012
  4. Boris Kanzleiter: Wahlen in Serbien: Stabilität trotz Krise? www.rosalux.de 09.05.2012
  5. Deutsche Unternehmen investieren in Serbien; voiceofserbia.org 24.04.2012
  6. Deutsche Unternehmen glauben an Serbien; www.gtai.de 27.04.2012
  7. Serbiens Außenhandel legte 2011 zu; www.gtai.de 27.02.2012
  8. "Die Serben durften nicht entscheiden, wo sie leben wollen"; www.faz.net 19.05.2012
  9. FPÖ: Abkommen mit SNS; www.fpoe.at 15.06.2011
  10. s. dazu Europe of Right-Wing Extremists (II) and The Collaborator's Tradition
  11. Marcus Schneider: Tomislav Nikolić positioniert sich in Europa. Bündnis mit Österreichs Rechtspopulisten? Perspektive FES Belgrad, Juli 2011



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Re: (EUEUEUEUEU) Berlin-Belgrade-Moscow axis forming (Molotov-Ribbentrop part deux getting stronger)

Posted by Rockparkman on Fri May 25 19:03:18 2012, in response to (EUEUEUEUEU) Berlin-Belgrade-Moscow axis forming (Molotov-Ribbentrop part deux getting stronger), posted by Olog-hai on Fri May 25 18:30:37 2012.

You're a fucking JACKASS.

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Re: EUEUEUEUEU Olog

Posted by Elkeeper on Fri May 25 21:46:54 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

And I thought the "76th Street" posting was a long, useless thread!

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Re: EUEUEUEUEU Olog

Posted by Olog-hai on Fri May 25 21:54:38 2012, in response to Re: EUEUEUEUEU Olog, posted by Elkeeper on Fri May 25 21:46:54 2012.

It is. This thread's the complete opposite of useless. Try reading sometime.

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Re: EUEUEUEUEU Olog

Posted by dand124 on Fri May 25 22:14:27 2012, in response to Re: EUEUEUEUEU Olog, posted by Olog-hai on Fri May 25 21:54:38 2012.

lol


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Re: EUEUEUEUEU Olog

Posted by SelkirkTMO on Fri May 25 22:29:57 2012, in response to Re: EUEUEUEUEU Olog, posted by dand124 on Fri May 25 22:14:27 2012.



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EUEUEUEUEU makes member states pawn gold reserves for Eurobonds

Posted by Olog-hai on Thu May 31 02:23:58 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

Daily Telegraph

Europe’s debtors must pawn their gold for Eurobond Redemption

By Ambrose Evans-Pritchard, International business editor
5:22PM BST 29 May 2012
Southern Europe’s debtor states must pledge their gold reserves and national treasure as collateral under a €2.3 trillion stabilization plan gaining momentum in Germany.

The German scheme — known as the European Redemption Pact — offers a form of "Eurobonds Lite" that can be squared with the German constitution and breaks the political logjam. It is a highly creative way out of the debt crisis, but is not a soft option for Italy, Spain, Portugal, and other states in trouble.

The plan is drafted by the German Council of Economic Experts and inspired by Alexander Hamilton’s Sinking Fund in the United States — created in 1790 to clean up the morass of debts left by the Revolutionary War. Flourishing Virginia was comparable to Germany today.

Chancellor Angela Merkel shot down the proposals last November as "completely impossible", but Europe’s crisis has since festered, and her Christian Democrat party has since suffered crushing defeats in regional elections.

The Social Democrat opposition supports the idea. The Greens say they will block ratification of the EU Fiscal Compact in the German Bundesrat — or upper house — unless Merkel relents.

"The Redemption Pact cleverly combines the advantages of lower interest rates through joint European borrowing with a reduction of debt," says Green leader Jürgen Trittin. "Joint liability would be limited in both time and scale."

The plan splits the public debts of EMU states. Anything up to the Maastricht limit of 60 percent of GDP would remain sovereign. Anything over 60 percent would be transfered gradually into the redemption fund. This would be covered by joint bonds.

Italy would switch €958 billion, Germany €578 billion, France €498 billion, and so forth. The total was €2.326 trillion as of November but is rising fast as Europe’s slump corrupts debt dynamics. The sinking fund would slowly retire debt over twenty years, using designated tithes akin to Germany’s "Solidarity Surcharge".

In effect, Germany would share its credit card to slash debt costs for Italy, Spain and others. Yet it is the exact opposition of fiscal union. While eurobonds are a federalizing catalyst, the fund would be temporary and self-extinguishing. "The fund is a return to the discipline of Maastricht with sovereign control over budgets," said Dr. Benjamin Weigert, the Council of Experts’s general-secretary.

The ingenious design gets around the German constitutional court, which ruled in September that the budgetary powers of the Bundestag cannot be alienated to any EU body under the Basic Law — the founding text of Germany’s vibrant post-War democracy.

The court warned that open-ended liabilities are unconstitutional. The Bundestag may not establish "permanent mechanisms which result in an assumption of liability for other states’ voluntary decisions, especially if they have consequences whose impact is difficult to calculate," it ruled. Chief Justice Andreas Vosskuhle said that any major step towards EU fiscal union would require "a new constitution" and a referendum.

The fund implies a big sacrifice for Germany. Its interest costs on joint debt would be much higher than today’s safe-haven rate of 1.37 percent on 10-year Bunds. Jefferies Fixed Income says it would cost 0.6 percent of German GDP annually. The Council of Experts — or `Five Wise Men’ — argue that this would be modest compared to the growth adrenaline of rescusitating monetary union.

Yet it is not charity either. One official said a key motive is to relieve the European Central Bank of its duties as chief firefighter. "We have got to get the ECB out of the game of distributing money, and separate fiscal and monetary policy. Germany has only two votes on the ECB Council and has no way to control consolidation," he said.

Germany would have a lockhold over the fund, able to enforce discipline. Each state would have to pledge 20 percent of their debt as collateral. "The assets could be taken from the country’s currency and gold reserves. The collateral nominated would only be used in the event that a country does not meet its payment obligations," said the proposal.

This demand could enflame opinion in Italy and Portugal. Both states have kept their bullion, resisting the rush to sell by Britain and others. Italy has 2,451 tonnes of gold, valued at €98 billion in March.

Alessandro di Carpegna Brivio, a gold expert at Camperio Sim in Milan, said Italy should treat such proposals with care. "Everything being done at a European level is in the interests of Germany and France, to save their banks. It is not in the interest of Italy," he said.

"We should use our gold to take care of our own debt, collateralizing bonds above 100 percent of GDP. That would be a far more targeted approach," he said.

David Marsh, author of books on the euro and the Bundesbank, said Germany is not yet ready for the redemption fund. "The Germans have to do something, but I don’t think it will happen before the elections next year. Spain will have to go through storm first," he said.

Ultimately, a sinking fund cannot tackle the root cause of the eurozone crisis. It may cap debt costs but it does not alter the intra-EMU currency misalignment between North and South, or help the Latin states close the chasm in labor competitiveness.

The South would still face the long grind of "internal devaluation" — or wage deflation — breaking societies on the wheel. Yet the Redemption Pact is at least a first step back from Purgatory.


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EUEUEUEUEU dragging US economy down

Posted by Olog-hai on Sat Jun 2 04:50:57 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

The Independent

Has US caught Europe’s cold? Poor jobs figures send markets plunging

Worldwide panic as Dow Jones suffers worst day of year and US unemployment leaps

Russell Lynch
Saturday 02 June 2012
Panic gripped global stock markets yesterday amid mounting signs that the world's two most powerful economies are succumbing to Europe's debt crisis.

Investors were spooked by the slowest growth for China's manufacturers in more than two years during May. The selloff gathered pace after hugely disappointing figures from the US — the world's biggest economy — where employers added far fewer jobs than expected over the month.

In London, the benchmark FTSE 100 Index hit a new six-month low of 5260.19, wiping nearly £16bn off the value of the UK's biggest companies as investors flooded funds into safe-haven assets. BGC Partners analyst Michael Ingram said: "Things are not going according to plan. We have one engine on fire — the EU — another steadily winding down — China and much of the emerging markets — and now ominous clunking noises from the US engine."

After months of encouragement from the US jobs market, unemployment unexpectedly rose to 8.2 percent last month. Companies added just 69,000 jobs last month, less than half the 150,000 expected. ETX Capital trader Richard Wiltshire said: "This serves to highlight just how vulnerable the employment situation actually is. The US economy may not accelerate as quickly as many thought or hoped."

The downbeat news came on the heels of a seventh month of contraction in a row for China's manufacturing sector during May. UK manufacturers also suffered the sharpest slump since the aftermath of the Lehman Brothers collapse in November 2008 as the eurozone uncertainty hit orders. Oil prices slid back below $100 a barrel for the first time since February 2011.

The stock market carnage wiped out all the gains for US stocks so far this year as New York's Dow Jones industrial average dipped 275 points in its worst day of 2012. Germany's Dax index shed 3.4 percent while France's CAC40 dropped 2.2 percent.

The fear was such that the investors were paying for the privilege of lending money to Germany for the first time in the clamor for shelter from the turmoil. Returns on Germany's two-year debt briefly turned negative as buyers were willing to pay more than the face value of bonds. Eric Wand, an analyst at Lloyds Bank corporate markets, said: "At the moment it's not so much about returns on capital but return of capital. It might make more sense to put your money in a bank, but which bank do you trust?"

The cost of UK and US government borrowing also plunged to all-time lows in contrast with beleaguered Spain, whose debt costs remain close to the 7 percent mark seen as triggering a potential bailout. Germany agreed to allow Spain more time to cut its budget deficit this week, but Madrid and its ailing banks are seen as the biggest potential casualty of contagion from a Greek crash out of the eurozone. Unemployment across the 17 countries in the euro hit 11 percent in April, the highest level since the single currency was introduced in 1999.


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Re: EUEUEUEUEU dragging US economy down

Posted by SelkirkTMO on Sat Jun 2 05:11:20 2012, in response to EUEUEUEUEU dragging US economy down, posted by Olog-hai on Sat Jun 2 04:50:57 2012.

Yep ... conservatism is a disease and it's killing us. :(

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Re: EUEUEUEUEU dragging US economy down

Posted by AlM on Sat Jun 2 07:39:33 2012, in response to EUEUEUEUEU dragging US economy down, posted by Olog-hai on Sat Jun 2 04:50:57 2012.

You're not staying on message. It's not Europe that's dragging down the US economy, it's Obama.



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Re: EUEUEUEUEU dragging US economy down

Posted by Rockparkman on Sat Jun 2 08:22:15 2012, in response to Re: EUEUEUEUEU dragging US economy down, posted by AlM on Sat Jun 2 07:39:33 2012.

Yes but the STUPID AmeriKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKan SHEEPle wlii vote Nazi and commit national suicide.

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EUEUEUEUEU and ECB draw up "master plan" for banking union/political union

Posted by Olog-hai on Mon Jun 4 01:33:52 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

Bloomberg

ECB, EU Drawing Up Crisis ‘Master Plan,’ Welt-am-Sonntag Says

By Brian Parkin
Jun 3, 2012 6:48 AM GMT-0400
The European Central Bank and the European Union are drawing up a “master plan” for the euro area aimed at strengthening the single currency, the German newspaper Welt-am-Sonntag reported, citing unidentified EU and ECB officials.

The plan includes proposals to integrate euro members’ budget policy, create a “banking union,” a “political union” and to undertake common structural reforms, the newspaper said.

Euro-area leaders commissioned ECB President Mario Draghi and three other EU leaders at a May 23 meeting to produce the blueprint by the end of this month, the newspaper said. The group also includes EU Council President Herman Van Rompuy, EU Commission President Jose Barroso and Luxembourg’s Jean-Claude Juncker, who heads the group of euro-area finance ministers, the newspaper said.

A report on the so-called master plan will be included in the resolutions of the EU summit at the end of June, the newspaper said. The group of four will also be commissioned to create a “roadmap” for implementing proposals by the end of the year, it reported. Berlin warned against inflated expectations of the outcome, the newspaper said.


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EUEUEUEUEU must be given "more control" over eurozone: Merkel

Posted by Olog-hai on Tue Jun 5 12:18:11 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

EU Observer

Merkel: eurozone needs more EU supervision

2012.06.05 @ 09:29
By Valentina Pop
BRUSSELS — German Chancellor Angela Merkel on Monday (4 June) said she supports more integration in the eurozone — a veiled reference to pooling debt provided EU institutions gain more supervisory powers.

"We need more Europe, not less, especially in the eurozone. This means that EU institutions, the EU commission included, should be granted more possibilities to control. Otherwise it would be impossible for a currency union to work," Merkel said alongside EU commission chief Jose Manuel Barroso who visited her in Berlin ahead of a 28-29 June summit.

Recognizing that her hard-fought-for treaty on fiscal discipline — signed in March by 25 EU states — is "a first step, but certainly not a sufficient one," Merkel said it was imperative for EU leaders to come up with a plan for the future of the eurozone.

"The world wants to know how we are picturing the political union matching the monetary union. An answer to this question has to be formulated in the near future and Germany will be a constructive dialogue partner in this regard," she said.

She endorsed the so-called banking union — particularly putting big banks under central EU supervision — and re-stated the need for more competitiveness and controls to ensure that every member state sticks to its budget consolidation pledges.

Once all these steps towards a fiscal and political union taken, Germany may consider pooling debt with other eurozone countries, her finance minister, Wolfgang Schäuble, told Handelsblatt in an interview.

"Before we can talk about joint management of debt, we need the right fiscal union," he said in an interview published on Tuesday (5 June).

According to unnamed Berlin officials quoted by the New York Times, the compromise Germany is willing to consider is combining Europe's bad debt into a single fund to be paid off over 25 years, rather than issuing joint debt — which would be unconstitutional under German law.

Germany has come under sustained criticism for its handling of the euro crisis, which has seen it delaying financial assistance until the very last moment. This tactic has increased costs for southern states.

"Markets remain skeptical that the measures taken thus far are sufficient to secure the recovery in Europe and remove the risk that the crisis will deepen. So we obviously believe that more steps need to be taken," White House press secretary Jay Carney told reporters on Monday.

Canadian Finance Minister Jim Flaherty said ministers and central bankers of the United States, Canada, Japan, Britain, Germany, France and Italy (G7) would hold a special conference call on Tuesday, raising pressure on Europe to recapitalize its banks and stem contagion from Greece to Spain and Italy.

Madrid so far has been resisting German pressure to ask for financial assistance from the eurozone bailout fund, arguing for its troubled banks to be rescued directly either by the eurozone fund or by cheap money from the European Central Bank, so as to avoid piling more debt onto the government's books.

But in a government statement put out on Monday, Merkel brushed off calls for changing the EFSF rules so as to allow direct recapitalization of banks: "All the instruments are available to guarantee the safety of banks in the eurozone."


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Re: EUEUEUEUEU must be given ''more control'' over eurozone: Merkel

Posted by SLRT on Tue Jun 5 13:18:45 2012, in response to EUEUEUEUEU must be given "more control" over eurozone: Merkel, posted by Olog-hai on Tue Jun 5 12:18:11 2012.

Ve must haff more KONTROL!!!

Ja, ja, ja, ja.

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Re: EUEUEUEUEU must be given ''more control'' over eurozone: Merkel

Posted by Olog-hai on Tue Jun 5 13:27:27 2012, in response to Re: EUEUEUEUEU must be given ''more control'' over eurozone: Merkel, posted by SLRT on Tue Jun 5 13:18:45 2012.

Santayana has to be rolling over in his grave.

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(EUEUEUEUEU) French president cuts retirement age from 62 to 60

Posted by Olog-hai on Wed Jun 6 16:52:28 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

Daily Telegraph

French president François Hollande cuts retirement age

By Emma Rowley
4:46PM BST 06 Jun 2012
France's new socialist government cut the country’s retirement age in the face of the eurozone’s deepening crisis, citing “social justice” to explain a move that goes against austerity efforts across the region.

Workers who entered employment aged 18 will be able to retire at 60 rather than 62, under the decree agreed at a cabinet meeting on Wednesday.

The decision follows pre-election promises from the new president François Hollande to reverse the rise in the retirement age introduced by his predecessor Nicolas Sarkozy in 2010.

“We committed to put this measure in place quickly for social justice for those who started working early,” said Social Affairs Minister Marisol Touraine.

The reforms will cost the state billions of euros a year, but can be afforded through higher worker and employer contributions, according to the government.

The €1.1-billion (£890 million, $1.38 billion) annual cost up to 2017 — €3 billion ($3.76 billion) thereafter — will be met by a 0.1 percentage point rise in payroll charges, amounting to an extra €2 a month on the average monthly French net salary of €1,600, it said.

Around 110,000 people are expected to benefit from the measure in the first full year.

Jean-François Cope, leader of France’s conservative UMP party, called the policy move “madness”.

“It risks the downgrade of France’s credit rating, and at this rate, tempts fate,” he said.


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Re: (EUEUEUEUEU) French president cuts retirement age from 62 to 60

Posted by AlM on Wed Jun 6 17:00:32 2012, in response to (EUEUEUEUEU) French president cuts retirement age from 62 to 60, posted by Olog-hai on Wed Jun 6 16:52:28 2012.

They don't live as long because they all smoke. :)

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Re: (EUEUEUEUEU) French president cuts retirement age from 62 to 60

Posted by orange blossom special on Wed Jun 6 18:28:07 2012, in response to Re: (EUEUEUEUEU) French president cuts retirement age from 62 to 60, posted by AlM on Wed Jun 6 17:00:32 2012.

Oy, maybe we can link that new gonherrea strain article too.

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Re: (EUEUEUEUEU) French president cuts retirement age from 62 to 60

Posted by SLRT on Wed Jun 6 18:36:15 2012, in response to (EUEUEUEUEU) French president cuts retirement age from 62 to 60, posted by Olog-hai on Wed Jun 6 16:52:28 2012.

According to Gallup, the U.S. public is 80% against giving any help to the Eurozone. I wonder why? It also seems like some people in the American press don't know what the U.S. social security age is. I've seen several citations of 65. Not for quite a while. It's 66 and already slated to go to 67, without any more legislation.

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Re: (EUEUEUEUEU) French president cuts retirement age from 62 to 60

Posted by Elkeeper on Wed Jun 6 20:06:55 2012, in response to Re: (EUEUEUEUEU) French president cuts retirement age from 62 to 60, posted by orange blossom special on Wed Jun 6 18:28:07 2012.

Gonherrea? Try gonorrhea!

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STOP EMULATING THE TURTLE

Posted by dand124 on Thu Jun 7 21:23:41 2012, in response to Re: EUEUEUEUEU lies about their cars' emissions figures, posted by Dan Lawrence on Sat Apr 28 20:03:54 2012.

STOP EMULATING THE TURTLE

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Re: STOP EMULATING THE TURTLE

Posted by Gamera on Thu Jun 7 21:39:48 2012, in response to STOP EMULATING THE TURTLE, posted by dand124 on Thu Jun 7 21:23:41 2012.

you do it too
everyone does it
we all do it
at Turtle Chat

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Re: EUEUEUEUEU lies about their cars' emissions figures

Posted by Jeff Rosen on Thu Jun 7 21:44:31 2012, in response to Re: EUEUEUEUEU lies about their cars' emissions figures, posted by Dan Lawrence on Sat Apr 28 20:03:54 2012.

I don't even care for posts about other cities. When you're outta NY, you're outta town.

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Re: EUEUEUEUEU lies about their cars' emissions figures

Posted by SelkirkTMO on Thu Jun 7 21:52:34 2012, in response to Re: EUEUEUEUEU lies about their cars' emissions figures, posted by Jeff Rosen on Thu Jun 7 21:44:31 2012.

Aw ... c'mon out and see America. It's an amusing place. :)

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Re: EUEUEUEUEU lies about their cars' emissions figures

Posted by Jeff Rosen on Thu Jun 7 22:18:43 2012, in response to Re: EUEUEUEUEU lies about their cars' emissions figures, posted by SelkirkTMO on Thu Jun 7 21:52:34 2012.

I have, drove cross country and still love NY the best. BTW, I consider your area NY too. I was in Saratoga & Lake George the other day and going back to LG on the weekend.

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Re: EUEUEUEUEU lies about their cars' emissions figures

Posted by SelkirkTMO on Thu Jun 7 22:25:07 2012, in response to Re: EUEUEUEUEU lies about their cars' emissions figures, posted by Jeff Rosen on Thu Jun 7 22:18:43 2012.

Yeah, been bikes through here for a few days now. It's that time of year. Back in the Cable Commission days, we had Roaring Brook as soon as the 'cade was done with stragglers still being carried out the door from the bar. :)

I was just having lulz with the NYC/America thing ... you know the one ... :)



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Re: EUEUEUEUEU lies about their cars' emissions figures

Posted by Train Dude on Thu Jun 7 23:53:55 2012, in response to Re: EUEUEUEUEU lies about their cars' emissions figures, posted by Jeff Rosen on Thu Jun 7 22:18:43 2012.

When are you riding up? I was supposed to go Today, then tomorrow and now maybe Saturday

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Re: (EUEUEUEUEU) French president cuts retirement age from 62 to 60

Posted by Olog-hai on Fri Jun 8 00:14:24 2012, in response to Re: (EUEUEUEUEU) French president cuts retirement age from 62 to 60, posted by SLRT on Wed Jun 6 18:36:15 2012.

Funny how the government in DC is so gung-ho about going against the will of the majority of people in the US in that respect, eh? Think about the people running DC now . . . Joe Biden called Brussels "the capital of the free world" a while back.

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(EUEUEUEUEU) Estonia's president in Twitter war with Paul Krugman

Posted by Olog-hai on Fri Jun 8 00:17:07 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

Washington Toast

Estonian President hammers Paul Krugman on Twitter

By The Reliable Source
Posted at 05:59 PM ET, 06/07/2012
There are Twitter feuds — and then there are high-class Twitter feuds. Witness Estonian President Toomas Hendrik Ilves taking on New York Times columnist Paul Krugman.

The Nobel-winning economist blogged Wednesday that he’s unimpressed by Estonia’s so-called recovery: “This is what passes for economic triumph?” Ilves shot back in a series of angry tweets: “Let’s write about something we know nothing about & be smug, overbearing & patronizing; after all, they’re just wogs.” And then: “Guess a Nobel in trade means you can. . . declare my country a ‘wasteland’.. . .” And then: “What do we know? We’re just dumb & silly East Europeans. Unenlightened. . . ” And so on, with several more hotly sarcastic jabs. Krugman stayed out of the Twitter fray and only barely acknowledged the tirade in a follow-up essay Thursday.

Er, is that really the president of Estonia? Using phrases like “Chill” and “y’all”? The embassy confirmed Thursday that it is. . . .


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Re: (EUEUEUEUEU) Estonia's president in Twitter war with Paul Krugman

Posted by SelkirkTMO on Fri Jun 8 00:24:36 2012, in response to (EUEUEUEUEU) Estonia's president in Twitter war with Paul Krugman, posted by Olog-hai on Fri Jun 8 00:17:07 2012.

More about the story from those directly involved:

http://www.globalpost.com/dispatches/news/business/estonian-rhapsody-did-krugman-austerity-euro

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Re: EUEUEUEUEU lies about their cars' emissions figures

Posted by Edwards! on Fri Jun 8 04:55:58 2012, in response to Re: EUEUEUEUEU lies about their cars' emissions figures, posted by Jeff Rosen on Thu Jun 7 22:18:43 2012.

LG is one heckofa town..nice place to hang out..specially on the strip..the "beach"...

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EUEUEUEUEU economy controlled by Bundesbank ("secret dictator")

Posted by Olog-hai on Sun Jun 10 01:23:42 2012, in response to EUEUEUEUEU Olog, posted by RockParkMan on Sat Nov 12 14:58:17 2011.

Daily Telegraph

Bundesbank: the eurozone's secret dictator

German Chancellor Angela Merkel may be the dominant force in the eurozone but the Bundesbank, Germany’s powerful central bank, is the power behind the throne.

By Philip Aldrick, Economics Editor
5:15PM BST 09 Jun 2012
Perhaps they’d had a little too much to drink. Or perhaps it was foolhardy bravado provoked by French President François Hollande’s decision to side with the eurozone’s Latin bloc — a symbolic switch of allegiance following his predecessor Nicolas Sarkozy’s die-hard solidarity with Germany.

But, for whatever reason, over dinner in Brussels on May 23, Europe’s leaders raised the tantalizing prospect for Spain of a rescue without a direct bailout. Its crippled banks, they suggested, could be recapitalized from pooled eurozone funds with no austerity strings attached.

It was not to be. As early as this weekend, Spain was expected to apply for a formal European rescue. The money, as much as €100 billion (£80.9 billion), will be channelled through public finances and used to recapitalize the country’s stricken lenders.

When the details of the bailout are agreed, it will almost certainly be presented as generous to Spain and evidence of Germany’s unstinting support for the eurozone project. Spain is expected to be pledged the funds from the European Financial Stability Facility (EFSF) or the IMF’s precautionary credit line — set up to help the “innocent victims” of the euro crisis. Under the deal, Madrid will borrow the money to recapitalize its banks at a rate it would not be offered in the market.

The cheap, state-backed funds will mean that Spain’s national debt rises from the 72 percent of gross domestic product (GDP) forecast this year by the IMF to about 80 percent — still lower than both France and the UK. But, crucially, neither the EFSF or IMF funds would come with any fiscal conditions attached.

Despite appearances, though, Germany will not have given an inch. The EFSF’s existing statutes say the funds can be used for a banking bailout, and the only conditions attached will be financial sector reform.

More importantly still, the EFSF funds will not rank senior to other holders of sovereign debt — which makes them potentially preferable to IMF funds. Were the private sector subordinated to the bailout fund, traders fear investors would be even less likely to buy Spanish government bonds, yields on which have spiked to unaffordable levels of more than 6 percent.

So long as the bailout is less than €100 billion, economists say, the bank rescue should stabilize Spain. Thomas Mayer, senior adviser at Deutsche Bank, is confident that the deal will help restore market confidence in Madrid, which has pushed through difficult but vital labour market reforms.

But, Mayer added, there should be no mistake — at no point in the negotiations did Germany stop playing hardball. Chancellor Angela Merkel was never going to put taxpayers on the hook for the estimated €180 billion of bad real estate loans made by Spanish banks.

Merkel may be the indisputably dominant force in the eurozone but it is the Bundesbank, Germany’s powerful central bank, that is increasingly seen as the power behind the throne. Since the creation of the euro and the transfer of monetary policy for the region to the European Central Bank, its tools have been blunted. But, experts and officials say, it still dictates events through the soft power of political influence.

“It is held in extremely high esteem by both the public and the politicians,” one veteran gilts market expert said. “It sets the tone of debate in Germany. It would be incredibly influential in the decision-making process of who should stay in the euro and who should go.”

The Bundesbank has been the keeper of German inflation-fighting orthodoxy and, if anything, its sway is now stronger than ever. After all, its president is Jens Weidmann, who was Merkel’s top economic adviser for the five years before his appointment in February 2011.

“Weidmann knows the Berlin machine. At the same time, he understands how the Bundesbank works,” Mayer said. “He is now in a very good position to leverage the power of the Bundesbank. And the power of the Bundesbank really goes through its reputation among the German people. Weidmann has positioned the bank as the institution that speaks out in the German national interest. Berlin cannot ignore what the Bundesbank has to say.”

Weidmann took over after Axel Weber quit both the Bundesbank and his position on the ECB’s governing council in disgust at the ECB’s emergency bond-buying program to prop up struggling eurozone members. Shortly after Weidmann’s appointment, Jürgen Stark, the ECB’s chief economist, resigned for the same reasons.

While demonstrating how marginalized Berlin’s power was within Europe’s institutions, the two resignations fired up German public opinion and played into the political debate. And in the political arena, Germany still holds all Europe’s cards.

As Tobias Blattner, a former ECB economist now at Daiwa Securities, said. “The Bundesbank’s position in the ECB stands in complete contrast with Merkel’s position in the EU — as there she has a veto.”

Weidmann has clearly allied himself with Weber and Stark, recently writing to ECB president Mario Draghi to voice concerns about its €1-trillion emergency funding program for Europe’s banks. According to David Marsh, author of books on the Bundesbank and columnist at MarketWatch, “the message of the Weidmann letter [was that] the Bundesbank could wield influence through the forcefulness of its own reputation”.

At a speech in New York in March, Weidmann laid down his strict economic orthodoxy. With German prices expected to rise just 2.1 percent this year and the rest of the world worried about a global slump, he raised seemingly irrelevant concerns about inflation. “What we do in the short term has to be consistent with what we are trying to achieve in the long term — price stability, financial stability and sound public finances,” he said. “This implies a delicate balancing act — a balancing act we shall upset if we overburden monetary policy with crisis management.”

For Mayer, the Bundesbank’s influence in the eurozone crisis is clear. “Without the Bundesbank, I think Mrs. Merkel would have been much more accommodating of Brussels and the bailouts,” he said. Citing her fickle stance over the years on both economics and nuclear power, he added: “She is not known for being extremely principled. She is pragmatic to the extreme. The Bundesbank is there to keep her virtuous.”

It is not the first time that the central bank has dictated events from behind the scenes. In 1992, Britain learnt the hard way that it was not to be trifled with. Although George Soros is remembered as the man who broke sterling on Black Wednesday, the Bundesbank played the vital role.

According to legend, Helmut Schlesinger, the Bundesbank’s hard-line president of the time, came to the opinion that the UK had joined the Exchange Rate Mechanism (ERM) at the wrong rate and wanted it out.

At the time, post reunification, the Bundesbank was trying to contain a consumption-led boom with high interest rates. Britain was in a slump and running a completely inappropriate rates policy to stay in the ERM.

Soros’s right-hand man, Richard Medley, was receiving detailed briefings from Bundesbank officials, who were making it clear they believed that sterling was unsustainable and wanted to break it. Medley encouraged Soros to take big bets against the pound just as the Bundesbank went on record saying sterling would have to be devalued.

In one of the most humiliating moments in UK economic history, on September 16 1992, the UK was kicked out of the ERM. Shortly afterwards, Italy was ejected, with Soros and the Bundesbank again in cahoots behind the scenes. Only when the markets turned on France did the Bundesbank stop the rot. As Soros later said: “I felt safe betting with the Bundesbank. The Bundesbank clearly wanted the pound and lira devalued, but it was prepared to defend the French franc. I did better than some others by sticking to the Bundesbank’s side.”

Traders and economists have drawn analogies between 1992 and the current crisis. Like then, there will come a point when the Bundesbank decides enough is enough. Greece is expendable, as the Bundesbank recently made clear by saying its exit from the euro would be “manageable”, but Spain, Mayer says, is too big.

What is certain is that the Bundesbank’s primary focus is Germany’s long-term stability, rather than any immediate eurozone solution. By being attune to the German national interest, the Bundesbank is playing the role of Merkel’s political guardian — fending off the siren voices of Europe’s weaker members who want direct transfer from German taxpayers.

But the Bundesbank’s dominance means that the eurozone crisis will not be resolved any time soon. In Weidmann’s words, the only real solution to the crisis is “structural reforms and budgetary discipline” among the periphery.

Long-term, Weidmann sees only two ways for the eurozone to evolve. It will either move towards a complete fiscal union, or revert to the original treaties — albeit strengthened “so they are conducive to stability”.

Spain has set its stall by the former, with Mariano Rajoy, its prime minister, calling for more integration, as has Merkel. Weidmann is said to believe that the latter is more realistic. For those hoping for a resolution and recovery, though, it’s not an inspiring option.


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Re: EUEUEUEUEU economy controlled by Bundesbank (''secret dictator'')

Posted by SelkirkTMO on Sun Jun 10 02:16:02 2012, in response to EUEUEUEUEU economy controlled by Bundesbank ("secret dictator"), posted by Olog-hai on Sun Jun 10 01:23:42 2012.

Actually, the mess is MUCH closer to home ...



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