AfD (Alternative for Deutschland) are suddenly on the map after this attack
on Bernd Lucke in Bremen by some left-wing thugs. High time that the German
public took notice of this party. If only they would modify their main mantra
of wanting out of the Euro, they could easily reach 10% and beyond. The rest of
their programme I and most Germans can agree with and would vote for as many
points they cannot find in the other parties' programmes. A real opportunity
lost. Professor Lucke should fire his advisors. As it stands they are unlikely
to jump the 5% hurdle. A great pity and a great waste. The main reason most
Germans want to stay in the Euro is not as sophisticated, as so often discussed
in this forum. Most Germans are not paying such close attention. For them a
single currency they can use across Euroland without losing 10% to thieving
money changers is a big practical reason to want it. CONVENIENCE. For people in
business the reason is even more valid. No loss on conversion and no wasteful
bureaucracy. Not really hard to grasp, especially by Britons travelling to
Europe and finding it convenient when going to several countries and being
annoyed about the conversion cost...To understand the reality of whether Europe
is on the mend or not, you need to dig a little below the surface. When you do
that, what you see is horrifying in the extreme. The basic fundamentals of
private freedom wealth democracy are being slowly strangled and the only
possible way to cover that is by official lies corruption and the most obscene
criminal activity since the second world war. A Greek bailout for the third
time is now kind of, officially accepted. At the most now it will only be 10
billion they say. It is pure hogwash, cant and lies of the highest order, utter
drivel and spin, Greece is losing now more than 42 billion every year due
entirely to the destruction of its SME base. in tax revenues. Almost 50% of
SME's are closed or bankrupt. Spain is now losing over 135 billion a year for
precisely the same reasons. Portugal is now losing revenue of over 76 billion a
year and rising very fast indeed . France is hemorrhaging revenue faster
than any of the PIIGS and early estimates put it at reaching a total that will
equal the combined loss of revenue due to the collapse in the profits of the SME
base by next year. It is true that Germany is booming ?!?!?! Combined with
retirements now rising at very fast rates due to demographics and baby boomers
leaving top management positions it simply cannot find enough skilled talent in
Germany. How many people know that Germany is now actively seeking and paying
Filipinos to go on the German Migrant Program. They even want talent from the
UK to go as apprentices. Two big telecom companies want over 30,000 qualified
experienced engineers . I know, because we are sending them from the
Philippines, including HRM Nurses and Midwives. It is desperate for skilled
staff and every year it is bleeding current employees due to retirement and the
effects of the Euro in Germany which due to massive inflows of unskilled labor
from the rest of Europe is driving wages down and poverty levels higher. Not
one single country in the EU has not seen its debt burden rise inexorably since
the start and now even minor upward changes in the yield rates threaten to blown
the whole thing sky high. Which it would have done already if the thieving
corrupt obummer hadn't signed an illegal transfer under the table to the ECB of
one point three trillion US US $1,300,000,000,000.00 handed over illegally to the ECB to prop the failed
ponzi scam up again.Representing almost US$6,500, fo9r every single working American Citizen in the private sector. Do the Europeans know this, do Americans know this fact. Vile evil criminal corruption and conspiracy grows ever larger day by day in Europe. The filthy poisonous evil tentacles of the grotesque monster called Brussels grow at almost 5 times the rate of Asian bureaucracy, and its cost per unit, or cost for every stinking parasite attached to Brussels is growing at over 7 % per annum. Anyone who is capable of doing even the most basic of math's can soon put a projection together that not only shows that this it totally insane but unsustainable, but that also pints out the only viable options. The cruddy stasi witch even after she has lied and corrupted and bought the votes next month, will still not be able to hand over sufficient German wealth, without causing either Germany to collapse or starting WWW3. So she will print, along with the other incalculably evil turd the draggy, they will print and print and monetize just as Japan is doing. Asia is going into meltdown as its currencies and markets collapse. Before the year is over Europe will join them. Mathematically nothing else is even remotely feasible. This is precisely the result you would expect when you allow the spawn of Hitler and Stalin and every other evil kleptomaniac and fascist to bully you into first listening to them, and second allowing to stay outside the reach of the gallows.
Putting them in power is act of insanity that only another war can resolve...Not so hard to grasp, is it?
3 comments:
In Brussels, the European Commission assumes that the Greek bailout is proceeding in small steps, each at a cost of billions. "The subject of Greece reappears on the agenda every six months," says a Commission member. This makes sense, because it ensures that the Greek government remains under pressure to enact reforms.
For Eurocrats, the notion of substantial additional funds flowing from Brussels to Greece is absurd. Even today, for investments from the structural fund, for example, the Athens government contributes only five percent of the funding itself, whereas other countries must come up with 25 to 50 percent of total funding. For this reason, the experts in Brussels are desperately searching for Greek infrastructure projects that make at least some sense.
In September, the troika will pay Athens another visit to assess the country's reform progress. The government has managed to push spending below revenues and is likely to be rewarded with a new aid package, to be approved this fall. The interest rates on the current loans, which are now averaging 2.3 percent, according to IMF calculations, are to be pushed down even further toward zero. But the troika also wants to see the loan repayment dates postponed for as long as possible. Both measures would reduce the country's annual debt burden.
Ireland, Portugal Also Likely to Need More Help
Ireland, which has so far been lauded as a paragon among ailing EU nations in the debt crisis, is also likely to need more help. The truth will become apparent in October, shortly after the German election. Ireland will have to give up its pretense that it won't need any more help once the bailout package expires.
The €67.5 billion bailout program for the Irish runs out at the end of this year, at which point Dublin will have to start borrowing from banks and private investors again. But as leading Irish politicians see it, that will only be possible if the Europeans provide a generous loan guarantee to fund the Irish government. In mid-July, Irish Finance Minister Michael Noonan presented his counterparts in the euro zone with his country's wish list. "What I would like to see is a backstop arrangement which would give additional confidence to the market," he said afterwards. In other words, Noonan wants the European Stability Mechanism (ESM) to provide his country with an unlimited line of credit, which he can access when the capital markets begin to question Ireland's creditworthiness.
At the current 125 percent debt-to-GDP ratio, such doubts can easily arise. Irish interest rates have fallen sharply because banks and investors assume that the Europeans will not abandon the Irish. But the government still spends more than it takes in. In addition, the volume of bad loans on the balance sheets of Irish banks is still growing. Experts estimate that the banks will need several billion euros in additional capital.
Cyprus Needs More Help To Avoid Bankruptcy
The situation is also tense in Cyprus. It is all but certain that the country will not be able to avoid a government bankruptcy with the current aid package. According to recent calculations, Nicosia will need a total of €23 billion by 2016, a gap Cyprus will be unable to close by itself. President Nikos Anastasiadis wants the austerity demands on his country be relaxed. According to Anastasiadis, they are stifling the Cypriot economy, because they impose an excessive burden on the Bank of Cyprus, the country's largest financial institution. The economy is running out of money.
Although European leaders had assumed that the Cypriot economy would shrink by 8.7 percent, the recession is likely to be even more severe. Without new aid, the island republic would slip into a national bankruptcy, because the country is unable to cut costs any further. The troika experts will travel to Nicosia in September, and then return to Brussels to present their results.
At first, European leaders had hoped that Southern Europe's crisis-ridden countries would make do with a one-time financial injection from the new bailout funds. But those hopes have now been dashed. In fact, bailout programs threaten to become the norm. A large part of the Mediterranean region will soon be requesting new aid, while the creditor countries of the north will try to fend off the requests.
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