When is Brussels going to admit:"The Euro experiment is a big failure. The southern countries can only survive with a much reduced exchange rate, as their main industry is inexpensive tourism. We need to find a way to set them free from the Euro and we will take a 50% write-down on our loan exposures."
The alternative is explosive doom.... I agree, but already power has clearly migrated from Brussels to Frankfurt. Even now Brussels is only in charge of important matters like banana curvature tolerances, getting rid of proper light bulbs and deciding who should collect their wonderful Nobel Peace Prize.
Germany - THE 4TH. REICH : Cyprus's MOU is finalized - The conditions of Cyprus's bailout deal have been agreed, according to the German government.
Reuters has the details: A final memorandum of understanding between Cyprus and international creditors on the island's bailout has now been finalized, a German finance ministry spokesman said on Wednesday....Martin Kotthaus also told a regular news conference he expected the bailout package to remain at 10 billion euros.
Curiously, Finnish finance minister Jutta Urpilainen had suggested this morning that the Cyprus bailout programme could be tweaked, when EU finance ministers meet in Dublin on Friday and Saturday.
Urpilainen told reporters: "I think the final outcome is good and sustainable, and I think it is good to go forward with this but it is good to note that some details might still be changed on Friday.
There are also reports that ministers will be advised to extend the maturity on certain loans given to Portugal and Ireland by seven years."
According to Reuters, the Troika of international lenders believes it is right to lower both countries' debt repayment burdens by spreading payments over a longer time.
Will Cameron sell the UK , capitulate?...I THIK YES, HE WILL BOW TO THE DEMANDAS of the 4th Reich -- Talks between the Tories and the new Alternative fuer Deutschland
(AfD), an anti-euro party, came to light as the Prime Minister and his family
flew to Germany as the personal guests of the Chancellor at the castle of
Meseberg, her country retreat.
The invitation for Mr Cameron to bring his wife Samantha and his children,
Nancy, nine, Elwen, seven, and Florence, two, to stay in the elegant 18th
century castle north of Berlin was intended to underline that the visit was a
special courtesy, "perhaps not just pure routine". "It is a meeting linked to numerous, highly intensive, good discussions that
the Chancellor has had with Prime Minister Cameron," her spokesman said.
Mr Cameron's aides admit that winning Mrs Merkel's support will be vital to
his attempts to negotiate a looser British EU membership deal, a new settlement
he has promised to put to a referendum by 2017. 
44 comments:
The Banker Mafia, have raised their interests rates higher,
that's why the cost of the bailout has risen.
They Deliberately, set the interests rates above what the country can afford can afford to pay back,
that way the country faces either immediate collapse, or a longer more painful road to financial enslavement.
The Politicians in Cyprus should took the first option, the people in Cyprus would have felt the immediate financial shock of it, but it would have been better than signing the population into levels of Debt they will now never be able to pay back.
Meanwhile The Prime Minister, is having meetings with Angela Merkel, as a Referendum is delayed for another four years.
Britain is being sold down the river, just like the people of Cyprus.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
"If the IMF think people will stand for another banking bail out without serious social unrest they are living under a very dangerous delusion."
You say this like it's a bad thing but a lot of Ciffers just can't wait for the heroic looting and revolutionary burning to start.
And the glorious dying, of course, but they're all very confident that someone else will be the acceptable casualties.
which in turn was based on money heavily invested from Germany and French banks which they refuse to lose. Although private investors have been forced to take massive haircut, which meant the Norwegian sovereign fund lost lots of money and also Cyrpiot investment vehicles.
So who authorised this massive haircut on Greek debt?
The Germans and Merkel. The consequence of one's actions runs deep! She and the EU have just wrecked Cyprus. Well done!
They should have left the Euro and still should and stick two fingers up at the Eurogroup! This cannot go on!
BRUSSELS—Europe is embarking on a new attempt to pull its banks out of the molasses of its debt crisis, hoping an aggressive cleanup of toxic assets will get banks to lend again and kick-start its flailing economies.
The push is being led by several key officials in Brussels and Frankfurt, who want to see a new round of much-tougher stress tests before the European Central Bank becomes the euro zone's main banking policeman next year, according to four European officials familiar the talks.
They are backed by the continent's richer countries, including Germany, the Netherlands and Finland,
BRUSSELS—Europe is embarking on a new attempt to pull its banks out of the molasses of its debt crisis, hoping an aggressive cleanup of toxic assets will get banks to lend again and kick-start its flailing economies.
The push is being led by several key officials in Brussels and Frankfurt, who want to see a new round of much-tougher stress tests before the European Central Bank becomes the euro zone's main banking policeman next year, according to four European officials familiar the talks.
They are backed by the continent's richer countries, including Germany, the Netherlands and Finland,
BRUSSELS—Europe is embarking on a new attempt to pull its banks out of the molasses of its debt crisis, hoping an aggressive cleanup of toxic assets will get banks to lend again and kick-start its flailing economies.
The push is being led by several key officials in Brussels and Frankfurt, who want to see a new round of much-tougher stress tests before the European Central Bank becomes the euro zone's main banking policeman next year, according to four European officials familiar the talks.
They are backed by the continent's richer countries, including Germany, the Netherlands and Finland,
BRUSSELS—Europe is embarking on a new attempt to pull its banks out of the molasses of its debt crisis, hoping an aggressive cleanup of toxic assets will get banks to lend again and kick-start its flailing economies.
The push is being led by several key officials in Brussels and Frankfurt, who want to see a new round of much-tougher stress tests before the European Central Bank becomes the euro zone's main banking policeman next year, according to four European officials familiar the talks.
They are backed by the continent's richer countries, including Germany, the Netherlands and Finland,
BRUSSELS—Europe is embarking on a new attempt to pull its banks out of the molasses of its debt crisis, hoping an aggressive cleanup of toxic assets will get banks to lend again and kick-start its flailing economies.
The push is being led by several key officials in Brussels and Frankfurt, who want to see a new round of much-tougher stress tests before the European Central Bank becomes the euro zone's main banking policeman next year, according to four European officials familiar the talks.
They are backed by the continent's richer countries, including Germany, the Netherlands and Finland,
BRUSSELS—Europe is embarking on a new attempt to pull its banks out of the molasses of its debt crisis, hoping an aggressive cleanup of toxic assets will get banks to lend again and kick-start its flailing economies.
The push is being led by several key officials in Brussels and Frankfurt, who want to see a new round of much-tougher stress tests before the European Central Bank becomes the euro zone's main banking policeman next year, according to four European officials familiar the talks.
They are backed by the continent's richer countries, including Germany, the Netherlands and Finland,
BRUSSELS—Europe is embarking on a new attempt to pull its banks out of the molasses of its debt crisis, hoping an aggressive cleanup of toxic assets will get banks to lend again and kick-start its flailing economies.
The push is being led by several key officials in Brussels and Frankfurt, who want to see a new round of much-tougher stress tests before the European Central Bank becomes the euro zone's main banking policeman next year, according to four European officials familiar the talks.
They are backed by the continent's richer countries, including Germany, the Netherlands and Finland,
Spotlight on Dublin and Berlin
Morning all - it is a day of gatherings for the eurozone. Given that it is the year of the gathering in Ireland (to celebrate the country's considerable cultural and genealogical wattage), there is appropriately enough a meeting of Eurogroup finance ministers in Dublin. They will discuss the ongoing crisis in Cyprus and then move on to the imminent one in Slovenia before, reportedly, agreeing to extend the bailouts for Ireland and Portugal. But the latter might not be announced until tomorrow.
In Berlin, David Cameron is meeting Angela Merkel. The election clock is ticking for both of them, with Merkel's coming later this year. Right now, one of them is more likely to be returned to power than the other - but Cameron still has two years to ensure that the eurozone does not continue to destabilise the UK economy and his election chances.
It is almost at the stage when it is pointless trying to gauge the rate at which the Eu/Euro is imploding. The devastating social effect of trying to hold the thing together in its present form is accelerating to the point where riots, starvation and unemployment for several generations are becoming the norm.
If there is to be a Europe it has to change very soon indeed or it will implode with devastating consequences for its people. We in the UK are not insulated but at least we have choices.
I know what mine is.
Walk away while we still can.
Apparently, there's now an idea for the smaller countries in SE Europe to come together to confront Germany as a group?
One old family friend was taken off to Mauthausen and his widow received nothing until the early 1970s, and even then it was a pittance - a few hundred deutschmarks.
It's a scandal that because the eastern half of Europe fell under communism, this meant Germany ended up paying nothing until the detente of the 1970s, by which time many claimants were dead.
And as I said, even in the 70s, the amounts paid out were pittances.
This issue affects so many countries. If proper compensation were to be paid now, the amount would be enormous.
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