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Euro bail-out in doubt as "hysteria" sweeps Germany
the telegraph ^ | 8/28/2011 | Ambrose Evans-Pritchard

Posted on 08/28/2011 4:34:40 PM PDT by tobyhill

Mrs Merkel has cancelled a high-profile trip to Russia on September 7, the crucial day when the package goes to the Bundestag and the country's constitutional court rules on the legality of the EU's bail-out machinery.

If the court rules that the €440bn rescue fund (EFSF) breaches Treaty law or undermines German fiscal sovereignty, it risks setting off an instant brushfire across monetary union.

The seething discontent in Germany over Europe's debt crisis has spread to all the key institutions of the state. "Hysteria is sweeping Germany " said Klaus Regling, the EFSF's director.

German media reported that the latest tally of votes in the Bundestag shows that 23 members from Mrs Merkel's own coalition plan to vote against the package, including twelve of the 44 members of Bavaria's Social Christians (CSU). This may force the Chancellor to rely on opposition votes, risking a government collapse.

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Extended News; Germany; News/Current Events
KEYWORDS: british; ecb; efsf; eubailout; eudebt; eurobrits; germany; hysteria; merkel; propaganda

1 posted on 08/28/2011 4:34:45 PM PDT by tobyhill
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To: tobyhill

hysteria in Germany

That can’t be good...


2 posted on 08/28/2011 4:35:38 PM PDT by RitchieAprile (breaking wind to the East..)
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To: RitchieAprile

Just like we can’t afford to bail ourselves out, Germany can’t even come close to bailing out all of Europe but that’s what’s become expected of them.


3 posted on 08/28/2011 4:38:59 PM PDT by tobyhill (A Democrat that doesn't lie would be a lie)
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To: tobyhill

German Tea Party?.........


4 posted on 08/28/2011 4:39:37 PM PDT by Red Badger ("Treason doth never prosper.... What's the reason? Why if it prosper, none dare call it treason.")
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To: tobyhill

Is “hysteria” a British word for “common sense”.


5 posted on 08/28/2011 4:40:49 PM PDT by Lonesome in Massachussets (Ceterum autem censeo, Obama delenda est.)
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To: tobyhill
Merkel Says Markets Won’t ‘Blackmail’ Euro Leaders Into Sovereign Rescues

...reports Bloomberg.

German Chancellor Angela Merkel said investors are trying to “blackmail” governments into helping debt-strapped European countries, underscoring the need for all euro-area governments to reduce debt.
Perhaps not, Angela, but you will bail out Europe all the same.
my favorite blog
6 posted on 08/28/2011 4:48:11 PM PDT by the invisib1e hand
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To: tobyhill

europe is in a panic. that was clear all last week.


7 posted on 08/28/2011 4:49:23 PM PDT by the invisib1e hand
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To: the invisib1e hand

They got word that Germany wasn’t going to bail them out.


8 posted on 08/28/2011 4:53:18 PM PDT by tobyhill (A Democrat that doesn't lie would be a lie)
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To: Red Badger

Maybe the “Bier Partei”

http://www.pegasus-service.de/Webvorlagen/hell/hell025/home.htm


9 posted on 08/28/2011 4:53:23 PM PDT by vladimir998
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To: tobyhill

Germany should start asking for territory in exchange for cash.


10 posted on 08/28/2011 4:53:39 PM PDT by Average Al
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To: tobyhill
They got word that Germany wasn’t going to bail them out.

unhnh. Germany will bail them out or the union is finished.

11 posted on 08/28/2011 4:58:19 PM PDT by the invisib1e hand
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To: tobyhill

The real hysteria is the irrational obsession of the european elite with maintaining monetary union among all existing eurozone states forever despite the fact it obviously isn’t working.


12 posted on 08/28/2011 4:58:58 PM PDT by skintight buffoonery
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To: the invisib1e hand

I think the courts are going to rule their proposed European bailout unconstitutional.

I think the EU is about toast.


13 posted on 08/28/2011 5:01:08 PM PDT by tobyhill (A Democrat that doesn't lie would be a lie)
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To: tobyhill

I once felt all that kind of anger, which a man ought to feel, against the mean principles that are held by the Tories: a noted one, who kept a tavern at Amboy, was standing at his door, with as pretty a child in his hand, about eight or nine years old, as I ever saw, and after speaking his mind as freely as he thought was prudent, finished with this unfatherly expression, “Well! give me peace in my day.” Not a man lives on the continent but fully believes that a separation must some time or other finally take place, and a generous parent should have said, “If there must be trouble, let it be in my day, that my child may have peace;” and this single reflection, well applied, is sufficient to awaken every man to duty.

—Thomas Paine


14 posted on 08/28/2011 5:03:55 PM PDT by steveyp
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To: tobyhill

Eurobonds will be issued.


15 posted on 08/28/2011 5:04:28 PM PDT by the invisib1e hand
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To: the invisib1e hand

I guess they’ll have to sell it to the Chinese like we do.


16 posted on 08/28/2011 5:12:52 PM PDT by tobyhill (A Democrat that doesn't lie would be a lie)
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To: tobyhill
"Decisions have to be made in parliament in a liberal democracy. That is where legitimacy lies," he said.

No kidding, Sherlock Holmes.

17 posted on 08/28/2011 5:17:31 PM PDT by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: Average Al

“Germany should start demanding territory in exchange for cash”

Based upon a thousand years of history they will surely consider themselves fortunate if their neighbors don’t also demand German territory in addition to their wealth.


18 posted on 08/28/2011 5:19:27 PM PDT by nkycincinnatikid
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To: nkycincinnatikid

Territory, as it always has, will be apportioned by force of will and dint of arms. The Germans have had the will and technological capability throughout history and will again when it comes to the day. The Belgians and others? Not so much.

I remain a European skeptic. Not because I don’t believe in monetary union. I don’t believe the people of Europe even yet understand or have the will to fight for liberty.

You can always take one with you.


19 posted on 08/28/2011 5:26:56 PM PDT by steveyp
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To: skintight buffoonery
The real irrational obsession of the European elite is the belief that, once they have spent all of the money that they do have, they can spend money that they do not have.

Somehow these people have an inherent inability to do mathematics.

20 posted on 08/28/2011 5:27:23 PM PDT by Savage Beast (IF THE ECONOMY FAILS--EVERYTHING FAILS!!!!!)
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To: RitchieAprile

You can not bail out Socialism .


21 posted on 08/28/2011 5:50:39 PM PDT by dbrew2u
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To: tobyhill
I guess they’ll have to sell it to the Chinese like we do.

well, that's another matter...probably; and then too we'll be swapping bonds and making things look better that way.

Just can't see EU breaking up before Germany and France are shaken down. I guess that doesn't bode well for the everyday people of those countries.

I believe this is what the chick from the IMF was euphemistically outlining in her speech: the mandatory recapitalization of european banks.

It has already begun. The industry in Europe laid off 40,000 people in July/August alone, in what Bloomberg called a "bloodbath" and "fundamental restructuring of banking." That fundamental restructuring is the implementation of punitive Basel III capital reserve requirements -- at the worst possible time. I wish I could be more optimistic but that sort of activity is (based on my observation) very bearish for the economy. This sort of wild cost cutting is also symptomatic of panic behavior, just as it was on Wall Street in 2008.

Finally, the DAX acted awfully all last week, when other markets fared relatively well. There was no publicized, immediately obvious reason, so the market was telegraphing some very bad impending news.

22 posted on 08/28/2011 6:00:51 PM PDT by the invisib1e hand
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To: dbrew2u
You can not bail out Socialism .

No, but you can puncture everyone else's boats.

23 posted on 08/28/2011 6:02:16 PM PDT by the invisib1e hand
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To: skintight buffoonery

Bureaucratic overlords in Europe and the USA don’t like the tea party and twist facts to fit their agenda. There is no truth - only spin. Ignore the media. They lie.


24 posted on 08/28/2011 6:06:55 PM PDT by x_plus_one (Obama's legacy: Trashing the North American continent into a third world hell hole.)
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To: tobyhill

Maybe Obama will bail them out.


25 posted on 08/28/2011 6:15:46 PM PDT by mylife (OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
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To: RitchieAprile

To the socialist EU crowd, any popular rebellion disallowing what they want to do, is named “dangerous” (domestic terrorism in the US) or “hysteria.”


26 posted on 08/28/2011 6:26:51 PM PDT by SaraJohnson
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To: the invisib1e hand
unhnh. Germany will bail them out or the union is finished.

No doubt it has occurred to an increasing number of Germans that they get no benefit whatsoever from being part of the EU. All they get is the opportunity to bail out weaker states.

27 posted on 08/28/2011 6:42:22 PM PDT by hinckley buzzard
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To: vladimir998

Ser gute!........


28 posted on 08/28/2011 6:42:43 PM PDT by Red Badger ("Treason doth never prosper.... What's the reason? Why if it prosper, none dare call it treason.")
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To: hinckley buzzard

no doubt. so what?


29 posted on 08/28/2011 6:48:04 PM PDT by the invisib1e hand
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To: Average Al

The CDU already suggested that last year when the Greek issue first erupted.

The nice Germans in the CDU reckoned that Germans need a vacation resort, the Greeks need money, so why not sell some unused Greek islands to the Germans?

The Greeks went ape.


30 posted on 08/28/2011 6:51:42 PM PDT by NVDave
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To: tobyhill

DEFUND socialist collectives everywhere.


31 posted on 08/28/2011 7:18:45 PM PDT by PGalt
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To: RitchieAprile

Yeah. The last time Germany got massively tee’d off, a demogogue came around... and, well, we all know the rest.


32 posted on 08/28/2011 10:18:51 PM PDT by gogogodzilla (Live free or die!)
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To: SaraJohnson
To the socialist EU crowd, any popular rebellion disallowing what they want to do, is named “dangerous” (domestic terrorism in the US) or “hysteria.”

The looters (alias the EU elites) want to defer the inevitable collapse as long as possible, so that they can loot just a little bit more. The German populace is starting to see that they are being looted, and don't like it one bit.

33 posted on 08/29/2011 2:16:08 AM PDT by PapaBear3625 (When you've only heard lies your entire life, the truth sounds insane.)
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