Yes, let's be honest, the de facto leadership of all things in Europe is exercised by Germany. The problem is that unless or until we all accept and formalize that a German politician (former STASI officer - merkel) captains the European Union and that Germany calls all of the shots, then it's the same as if there was nobody in charge.
Everybody was sure that somebody would do it. Anybody could have done it, but nobody did it. Somebody got angry about that because it was everybody’s job. Everybody thought that anybody could do it, but nobody realized that everybody wouldn’t do it. It ended up that everybody blamed somebody when nobody did what anybody could have done.My dual military related and commercial career to date has led me to hold a few golden rules dear to my heart.One of my golden rules is this. When one enters a situation where there is clearly a crisis playing out, the first question to be asked is, "Who is in charge here?" The answer can tell you a lot about why the crisis might have arisen in the first place, and can give some indication of the chances of the crisis being controlled and resolved. If the person questioned can't answer straight away, confidently that "So-and-so is in charge", then you already have some understanding of why the organization is in a crisis. If the person questioned answers along the lines of "I think Blogs is in charge but, err, then again it could be Smith in charge. Err, or is it Jones in charge? Not sure really. One of them, is in charge anyway ... I think."...And there you have it. Nobody's quite sure who's really in charge at the ECB. Indeed, nobody's really sure who's in charge at the ECB; or in charge of the Euro Monetary Union; or in charge of the European Union. These are all just monstrous, dysfunctional European institutions which can neither jointly nor severally take 400 million European citizens to the economic and social paradise of a super state (which is what the European Union is supposed to be about). This is as much because the structures for governance of these organizations are a shambles, as it is because the underlying concept itself - of slamming sovereign nations together into a super state without democratic consent and without a single, clearly identified leader at the helm - is a monstrous deceit. And now we have the particular situation explained by AEP above where the best the nascent European superstore's bank can do is to slam the continent into deflation. That's terrific, just terrific. A dysfunctional monetary union, tucked inside a dysfunctional economic and political union with, sitting behind it all, a dysfunctional central bank. An organization in crisis if ever there was one.
4 comments:
Raging rampant high grade BS.
Out of 200,000 UK SME's over 65% are experiencing distress to severe hardship.
This blatant propaganda garbage looked up up the top 0.5 % of those and tries now to get you to think that that the UK economy is booming.
Drivel fairy stories, delusional fantasy land hokum, and these perverts think that anyone will believe for one second that this is a general reality.
Grand coalitions are by their nature generous. That's one of the reasons they are more popular with people than smaller coalitions. And it doesn't appear that the third grand coalition government in postwar German history will disappoint, either. Because each of the three parties in the new government is showing a big heart for the little man, and each wants to make sure that its handwriting is recognizable on the coalition contract. The result is a cornucopia of good deeds courtesy of the social system that are now to be distributed across the country. Be it a national minimum wage (the first in Germany), pension increases for women who have raised children or dual citizenship for children of immigrants born in the country, there is something in here for everyone. And the parties want the wealthy to be grateful that the government won't be resorting to tax increases to pay for it -- at least not in the beginning. Still, many Germans will eventually learn the hidden costs of this blessing -- namely the next generation. But none of the three party leaders is going to allow that to overshadow this very generous alliance."
incineratur@gmail.com
• 2 days ago
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It's not only Olio Rehn that should be eliminated but the whiole EU together with its Euro and its corrupt colonial petty dictators and their QUISINGS in every member country.
Bring out the Guillotines, the gallows and the firing squads.
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incineratur@gmail.com
• 17 hours ago
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Clearly you have a good point, but experience tells me that non-violent democratic means will be the way that nations destroy the EU-by pulling out of it and its institutions. The same peaceful means can destroy NATO and the WTO-international organisations which are dangerous require international and democratic efforts to stop them.
(MILAN) - The board of troubled Italian lender Monte dei Paschi -- the world's oldest bank -- on Tuesday approved a capital increase of up to 3.0 billion euros ($4.1 billion) to be completed by the first quarter of 2014.
The aim of the capital increase is to reimburse state aid received by the bank in the form of bonds at the start of this year and interest due for 2013.
The long-awaited decision still needs a formal go-ahead by a meeting of shareholders scheduled for December 27, the bank said in a statement.
The bank had initially planned a 1.0-billion-euro capital increase but agreed to increase it following a request from European authorities.
The bank has been waiting for months for a green light from the European Commission on a vast restructuring plan that could now come on Wednesday, Italian newspapers reported.
Investors reacted negatively however, with shares plunging by 6.8 percent in afternoon trading while the main stock market index was up 0.12 percent.
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