....DO THE IRISH "VOTERS" KNOW THAT THEIR BUDGDT HAS TO BE APPROVED BY THE GERMAN BUNDESTAG (parlimant) IN ORDER TO PASS ???? So now.... Ireland, has officially become the austerity whore for all of Europe.
What other country in the world would break open the champaign because they have actually "won" a vote to give even more of their countries sovereignty away?
What other country in the world would celebrate the fact that they have been given a mandate to put the country even deeper into debt?
What country in the world would sell a German "austerity" treaty to its people as a a "stability" treaty?
Ireland sees it's young people leaving the country in droves but turns it's head the other way. It pays thousands of public servants to daily trawl and massage statistics to "prove" austerity works. Meanwhile its sovereign debt races through all gears and ignores the grinding in the gearbox.Studying the results it appears the working classes are finally beginning to realise that the plan is, to sell them and their children, into debt peonage and make them bonded slaves for 20 years.
This will not end well for the these political and economic traitors who have hitched their careers to debt and bailout same thing driven models of economics while preaching and enforcing austerity on the plebs. As well as bringing the country on the scenic route to default they are driving disaffected voters straight into the hands of Sinn Fein.
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As new data showed Spain's unemployment rate at a record 24.3%, budget minister CristóbalMontoro reported that the country's regional governments, which kept the national budget deficit at 8.9% last year, had balanced their budgets in the first quarter of this year.
But he admitted this was only because central government had brought forward €5bn (£4bn) in payments to the most cash-strapped regions, and admitted that the task of reining in their deficits was far from done.
Montoro also warned other European countries that if Spain was allowed to collapse without paying its debts then that would inflict damage on them too.
"Who holds our external debt?" he asked. "You will understand that those who are most interested in things going well for Spain are the creditors. Or do you think they don't want to get their loans back? I can assure you that they do."
Spain must raise €19bn to save failed lender Bankia and also needsto find money to prop up regional governments, some of whom have been given junk status by ratings agencies and as a result cannot raise their own funding.
But UBS Investment Research said there is now a consensus that the Spanish banking sector in general needs a recapitalization of up to €100bn. That might need further state aid, or help from Europe's bailout fund.
Time to press the reset switch and write off the debt, the problem won't go away until we do.
Money is just paper tokens, and the it's time we accepted that the solution is to get that supply flowing again. The banks are sitting on the money and saving themselves while Rome burns. It s time the BoE started loaning direct to SMEs and bypass the private banks. We can get the economy moving again but we need to throw away the current rules and move forward.
There are certainly many reasons why the worldwide markets are collapsing but closer to home the situation is clearer.
The EU is something that I have supported as a free trade area and loved it when all those border posts opened and no more carnets just to show my goods at a German trade show.
Now we have a completely disfunctional Europe with most in a common currency that clearly doesn't work with the fix of greater integration.
But wait, why then are all these countries behaving as though they are still sovereign states. Watching Hollande in France is a good example but sadly you have to watch France24 to see him fully in action.
To make the Euro work eurozone citizens must become members of one state and subservient to that state despite their different cultures.
This will not happen for the reasons of France et al so the Eurozone is stuffed but is trying to prevent the stuffing being inserted.
In the old days this was war material. Now there are no guns but huge banking war machines spending the citizens money in the name of capitalism.
Batten down les 'atches mes ami...........
There are certainly many reasons why the worldwide markets are collapsing but closer to home the situation is clearer.
The EU is something that I have supported as a free trade area and loved it when all those border posts opened and no more carnets just to show my goods at a German trade show.
Now we have a completely disfunctional Europe with most in a common currency that clearly doesn't work with the fix of greater integration.
But wait, why then are all these countries behaving as though they are still sovereign states. Watching Hollande in France is a good example but sadly you have to watch France24 to see him fully in action.
To make the Euro work eurozone citizens must become members of one state and subservient to that state despite their different cultures.
This will not happen for the reasons of France et al so the Eurozone is stuffed but is trying to prevent the stuffing being inserted.
In the old days this was war material. Now there are no guns but huge banking war machines spending the citizens money in the name of capitalism.
Batten down les 'atches mes ami...........
Recapitalization? I know that this site is now international but can't there be some rationalisation of spelling?
It's bad enough for UK users to find that the latest news and sports news is often about the US and obscure US sports teams we have never heard of. But a piece from a British reporter written in US spelling in a British paper is taking the piss.
Recapitalization? I know that this site is now international but can't there be some rationalisation of spelling?
It's bad enough for UK users to find that the latest news and sports news is often about the US and obscure US sports teams we have never heard of. But a piece from a British reporter written in US spelling in a British paper is taking the piss.
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