Domino Effect at Work with Euro - Last Days of the Eurozone ? - UPDATE: S & P put EU on Negative Watch

[C. Flower]

All is well Angela and Francois have come together to announce they will do everything they can to stop the euro-zone from breaking up.-



http://www.breakingnews.ie/world/ger...ne-560912.html

Groundhog day.

[Ephilant]

Europe's favourite PM, Hungarian Prime Minister Viktor Orban held a speech in Romania today, at the annual students’ gathering in Baile Tusnad.

Hungarian private TV network HIR reported the following outburst:

“Brussels spends precious days and weeks setting the size of hen cages. They prescribe that pigs should be given toys to play with, and the mood of geese is an important European issue. Meanwhile, hundreds of thousands are losing their jobs, our currency is collapsing and every day we find it harder and harder to make ends meet.

And in a reference to his own battles with the EU over controversial policies like a levy on central bank operations etc

They are concerned about the independence of central banks, when it is absolutely evident that the ECB is under the growing sway of political, national political decisions.

and

the 27-member bloc’s institutions are hindering crisis-hit nations’ ability to solve their problems. It is trapped in a vicious circle of lack of accountability and failing institutions

Spot on Viktor, but not the way to make friends and influence them...

[C. Flower]

http://www.irishtimes.com/newspaper/...m_medium=email

It's a "decisive moment" for the euro but all the parliaments are on holiday...

[DCon]

http://www.irishtimes.com/newspaper/...m_medium=email

It's a "decisive moment" for the euro but all the parliaments are on holiday...

Merkel wants to outsource euro responsibility to the ECB.

Meanwhile,her junior coalition party want to sue the ECB

A member of Merkel's junior coalition party calls on the German government to sue the central bank for buying peripheral debt on the secondary market amid reports of imminent ECB action to tackle crisis.

http://www.telegraph.co.uk/finance/d...isis-live.html

[ang]

The German Council of Experts otherwise known as the "wise men" have acknowledged that the euro has been very beneficial to Germany and its exports. The "wise men" go on to predict losses of 3 trillion euros if the European Monetary Union were to break up.

http://www.forexcrunch.com/german-co...uro-breaks-up/

[C. Flower]

The German Council of Experts otherwise known as the "wise men" have acknowledged that the euro has been very beneficial to Germany and its exports. The "wise men" go on to predict losses of 3 trillion euros if the European Monetary Union were to break up.

http://www.forexcrunch.com/german-co...uro-breaks-up/

Tim Geithner (Son of CIA boss who took charge of a million deaths in Indonesia) and Tony Blair (uncounted dead in Iraq) have stepped in today.

Serious worries about Eurozone collapse, or turning the screws ?

http://www.telegraph.co.uk/finance/f...operation.html

In a joint statement, US Treasury Secretary Timothy Geithner and German Finance Minister Wolfgang Schaeuble expressed "confidence" the eurozone could carry out the reforms needed to escape the two and a half year debt crisis.
They emphasised "the need for ongoing international cooperation and coordination to achieve sustainable public finances, reduce global macroeconomic imbalances and restore growth," said the statement.

[TotalMayhem]

SPIEGEL Online's headline of the day

Euro members want rescue fund with unlimited fire power.

I getting a feeling here, a bunch of first generation video game kids have made it into the highest echelons of European politics and now remember the cheat codes for Duke Nukem 3D... full body armour, unlimited ammo, god mode! Those were the days.

Save the Euro? "Piece of cake!"

[ang]

EU Investigates ECB's Draghi Following Complaint -

The European Union's internal watchdog has launched an investigation of European Central Bank President Mario Draghi following a complaint of conflict of interest, the institution's spokeswoman said on Monday.

Corporate Europe Observatory (CEO), which tracks EU-focused lobbying, accused Draghi in June of lacking independence because of his membership in an international forum of public and private sector financial leaders, the Group of Thirty (G30).

http://www.cnbc.com/id/48410063

[ang]

De Guindos Said to Push Spain Cuts as Germany Signals Aid -

Spanish Economy Minister Luis de Guindos is pushing for additional budget cuts after Germany signaled to him that such a move would be rewarded by bond market assistance, according to two people in Madrid familiar with his thinking.

De Guindos wants further cuts in health and education spending after his German counterpart, Wolfgang Schaeuble, told him that such a move would enable Germany to support any steps by the European Central Bank to push down Spanish borrowing costs, said the people, who discussed the proposal with the economy minister. They asked not to be named as the discussions were confidential. ECB President Mario Draghi also backs de Guindos’s push, said one of the people.

http://www.businessweek.com/news/201...ny-signals-aid

[riposte]

They asked not to be named as the discussions were confidential. ECB President Mario Draghi also backs de Guindos’s push, said one of the people.

All they need to do is pass a law requiring us to wear earplugs and blindfolds and then they could dispense this tiresome necessity for confidentiallity.

[Count Bobulescu]

Tim Geithner (Son of CIA boss who took charge of a million deaths in Indonesia) and Tony Blair (uncounted dead in Iraq) have stepped in today.

Serious worries about Eurozone collapse, or turning the screws ?

http://www.telegraph.co.uk/finance/f...operation.html

CF, despite all the conspiracy theory stuff flying around the web, no-one named Geithner has ever been boss of the CIA. Here’s the skinny.

During the early 1980s, Geithner's father Peter oversaw the Ford Foundation's microfinance programs in Indonesia being developed by Ann Dunham Soetoro, President Barack Obama's mother, and they met in person at least once.[13]

[C. Flower]

CF, despite all the conspiracy theory stuff flying around the web, no-one named Geithner has ever been boss of the CIA. Here’s the skinny.

Now that is something I didn't say. But Geithner was a very senior man in the Region of which Indonesia was a part.

He was in charge of all the US "Ford Foundation" (main funding flow for the CIA) SE operations, based in Manila. Obama's mother had to travel to see him. You would not expect them to have met many times, given his seniority.
What is your source for that, btw?

http://www.t-room.us/2011/03/march-2...eign-research/

Micro finance is now acknowledged to have been a US strategy against communism/maoism in undeveloped areas. It is also a handy cover for agents in those areas. In terms of economics, it has been a disaster, with a major debt problem in the areas in which it has been used most.

Her work in South East Asia included "identifying community leaders" in an environment in which a million of such people had just been slaughtered with the assistance of the CIA.
Ann Dunham led the introduction of micro-finance introduction into Pakistan and elsewhere, at its outset as an initiative. When she died, her ashes were scattered in the gardens of the "East-West" centre in Hawaii, where she got her early training.

Obama's father worked for a politician who was a known CIA asset in Kenya.

Predictably, whenever anyone attempts to discuss Obama's past, whether left or right, the discussion is drowned out with a white noise of and about conspiracy theory. The birthers are a gift to Obama.

There must be a full time staff editing and pruning Obama's anodyne wikipedia page.

Back to the Eurozone. The markets are hovering waiting for an announcment of action today. If it is not a big bazooka of miracle cash, then the euro is likely to be hit hard.

[ang]

Back to the Eurozone. The markets are hovering waiting for an announcment of action today. If it is not a big bazooka of miracle cash, then the euro is likely to be hit hard.

I'm expecting a lot of talk about a big bazooka but then again they say talk is cheap.

I fail to see how Draghi can announce ESM/EFSF bond buying whilst the ESM is "sitting" with the German Court who have been assured by German Govt officials no such measures will be undertaken without referral back to the Bundestag for approval. That approval would be hard to get and a German Referendum would become much more likely. Recent German polls have shown 51% of Germans now believe they would be better off exiting the eurozone.


Meanwhile Timothy is again showing concern for the European financial "situation"

U.S. Treasury Secretary Timothy Geithner is to meet his German counterpart and the head of the European Central Bank on Monday following a flurry of pledges to save the euro that raised expectations of decisive action soon. Germany, however, appeared to downplay those hopes.

Geithner will meet Finance Minister Wolfgang Schaeuble on the North Sea island of Sylt, where Schaeuble is vacationing. After the meeting, which Germany says was initiated by the U.S., Geithner will travel to Frankfurt to meet ECB President Mario Draghi.

http://www.lasvegassun.com/news/2012...ancial-crisis/

[MPB]

The ECB don,t have the artillery to save the euro, simply because they don,t have the honesty to admit that they, are the problem.

If every Bank in Europe is still under ECB protection after today the euro is still fubarred.

The global banking system is sucking the life out of global economies.

[ang]

The ECB don,t have the artillery to save the euro, simply because they don,t have the honesty to admit that they, are the problem.

If every Bank in Europe is still under ECB protection after today the euro is still fubarred.

The global banking system is sucking the life out of global economies.

Ourselves and millions of others know this but unfortunately "the powers that be" still seem intent on refusing to acknowledge the inevitable.

Lot of discussion about ECB being given power to close non viable banks.