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The great euro Putsch rolls on as two democracies fall
The Telegraph ^ | 11/13/2011 | Ambrose Evans-Pritchard

Posted on 11/13/2011 3:47:46 PM PST by bruinbirdman

Europe’s scorched-earth policies have begun in earnest. The inherent flaws of monetary union have created a crisis of such gravity that EU leaders now feel authorized to topple two elected governments.

As I long feared, the flood of cheap credit into Southern Europe and the slow death of Club Med industry by currency asphyxiation have together created such a dangerous situation for world finance that informed opinion is willing to turn a blind eye to EU sovereign trespass. Some even applaud.

The Greeks were ordered to drop their referendum on measures that reduce their country to a sort of Manchukuo, with EU commissars "on the ground", installed in each ministry, drawing up lists of state assets to be liquidated to pay foreign creditors.

Europe had the monetary and fiscal means to contain the EMU debt crisis long enough for Greeks to give or withhold their crucial assent to this ultimatum in December.

It chose - under German-Dutch pressure - not deploy those means. Instead it forced Greece to capitulate by cutting off an agreed loan payment.

In Italy, the European Central Bank has engineered the downfall of Silvio Berlusconi by playing the bond markets, switching purchases on and off to enforce compliance with its written dictates ("La Lettera"), and ultimately allowing 10-year yields to spike to 7.45pc to drive him out.

Europe’s president Herman Van Rompuy swooped in to Rome to clinch the Putsch. "Italy needs reforms not elections," he said.

We are not that far from use of EU judicial coercion, and then EU police power, and ultimately EU "border troops" - for those old enough to remember Soviet methods of fraternal assistance.

Chancellor Angela Merkel tells us that peace in Europe can no longer be taken for granted, and she is right. Her own

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


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; Germany; News/Current Events; United Kingdom
KEYWORDS: berlusconi; europeanunion; france; germany; greece; italy; netherlands; silvioberlusconi; unitedkingdom
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1 posted on 11/13/2011 3:47:49 PM PST by bruinbirdman
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To: bruinbirdman

“Euro-putsch” is the best way to put it. Not a single soul in the USA will like what comes out of this.


2 posted on 11/13/2011 4:04:16 PM PST by Olog-hai
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To: bruinbirdman

How long before Merkel herself falls?

Germany won’t conquer europe, quite the opposite. Europe will conquer Germany and use her treasury and her people to feed themselves.


3 posted on 11/13/2011 4:04:16 PM PST by BenKenobi (Honkeys for Herman! 10 percent is enough for God; 9 percent is enough for government)
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To: bruinbirdman

Euro-socialist parasites screaming as their credit cards are maxxed out.


4 posted on 11/13/2011 4:06:18 PM PST by FormerACLUmember
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To: bruinbirdman

“Three fifths of a score years ago our fathers brought forth upon this continent a new nation...”

A financial “Dred Scott case” or just a hiccup? Is a “Missouri Compromise” neccessary between the North and the South? Will it be Ft Sumter?

Nah, I think they’ve integrated too far. Germany will rule.


5 posted on 11/13/2011 4:06:56 PM PST by mrsmith
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks bruinbirdman.
Europe had the monetary and fiscal means to contain the EMU debt crisis long enough for Greeks to give or withhold their crucial assent to this ultimatum in December. It chose -- under German-Dutch pressure -- not deploy those means. Instead it forced Greece to capitulate by cutting off an agreed loan payment. In Italy, the European Central Bank has engineered the downfall of Silvio Berlusconi by playing the bond markets, switching purchases on and off to enforce compliance with its written dictates ("La Lettera"), and ultimately allowing 10-year yields to spike to 7.45pc to drive him out.

6 posted on 11/13/2011 4:10:23 PM PST by SunkenCiv (It's never a bad time to FReep this link -- https://secure.freerepublic.com/donate/)
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To: bruinbirdman
Daniel 7:8 I was considering the horns, and there was another horn, a little one, coming up among them, before whom three of the first horns were plucked out by the roots. And there, in this horn, were eyes like the eyes of a man, and a mouth speaking pompous words.

Never have I seen such pomposity as this President. He reads other men's words from a teleprompter. Even when he visited a school to meet the children, the teleprompter was front and center.

Daniel 8:9 And out of one of them came a little horn which grew exceedingly great toward the south, toward the east, and toward the Glorious Land.

Look at a map of the Middle East. Egypt lies to the south. Toward Iraq east and toward these United States, the glorious land.

7 posted on 11/13/2011 4:14:04 PM PST by STD (Cut Taxes, Cut Spending Stupid!)
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We are not that far from use of EU judicial coercion, and then EU police power, and ultimately EU "border troops" -- for those old enough to remember Soviet methods of fraternal assistance. Chancellor Angela Merkel tells us that peace in Europe can no longer be taken for granted...

8 posted on 11/13/2011 4:14:24 PM PST by SunkenCiv (It's never a bad time to FReep this link -- https://secure.freerepublic.com/donate/)
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To: bruinbirdman

War?


9 posted on 11/13/2011 4:17:34 PM PST by alarm rider (I took the pledge, I will never vote for another RINO, not now, not ever.)
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To: bruinbirdman

Even A E P has his price and it has been met.
But, bless him, he was not a cheap whore, he wants the entire savings of northern Europe.


10 posted on 11/13/2011 4:21:04 PM PST by nkycincinnatikid
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To: Olog-hai
The Brits did this to Argentina about a century ago. They owed debts they didn't intend to pay so the Brits took over. They organized the cattle industry and built railroads.

What's happening to Greece is minor stuff.

11 posted on 11/13/2011 4:23:27 PM PST by muawiyah
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To: bruinbirdman

The question I would ask the leaders of Greece, Italy and the other relevant nations is this: What did you expect when you abdicated your sovereignty to the eurocrat socialists in Brussels?? You sold your soul, and now payment is coming due.


12 posted on 11/13/2011 4:24:23 PM PST by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
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To: mrsmith

Germany, because of its central position, industry, and financial strength, has always been able to rule Europe, especially when the French cooperate with them. Better German democratic hegemony than Kaiser Bill’s or Hitler’s.


13 posted on 11/13/2011 4:28:41 PM PST by GAB-1955 (I write books, serve my country, love my wife and daughter, and believe in the Resurrection.)
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To: BenKenobi

How long before Merkel herself falls?
What's going to make her fall? Her position is unassailable, and all the European leaders are doing exactly as she says.

Germany won’t conquer europe, quite the opposite. Europe will conquer Germany and use her treasury and her people to feed themselves
Don't know what you base that on. The EU was Germany's baby right from the beginning.
14 posted on 11/13/2011 4:29:20 PM PST by Olog-hai
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15 posted on 11/13/2011 4:31:32 PM PST by RedMDer (Forward With Confidence!)
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To: muawiyah

The Brits did this to Argentina about a century ago. They owed debts they didn't intend to pay so the Brits took over. They organized the cattle industry and built railroads
I've heard propaganda like that before. What Germany is doing to Europe now is not like anything Britain ever did. Don't ask Germany or the EU to suddenly recognize Greece's independence from the EU, like Britain recognized Argentina's independence back in 1825.
16 posted on 11/13/2011 4:33:41 PM PST by Olog-hai
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To: Olog-hai

Clymer


17 posted on 11/13/2011 4:44:26 PM PST by nkycincinnatikid
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To: bruinbirdman
If a country is not in debt it's a lot more difficult to manage from the outside.

True for individuals too.

18 posted on 11/13/2011 4:46:31 PM PST by Paladin2
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To: nkycincinnatikid

Ammend that.
Baby Clymer, Clymer understudy, Clymer wannabe.
Clymers don’t squeeze tisue.


19 posted on 11/13/2011 4:50:12 PM PST by nkycincinnatikid
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To: Pan_Yan

ping


20 posted on 11/13/2011 5:02:39 PM PST by Pan_Yans Wife ("Real solidarity means coming together for the common good."-Sarah Palin)
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To: Olog-hai
1870 and 1914 is the period when UK rail building occurred in Argentina ~ NOT 1825.

I see you didn't live through that period of history as I did.

Oh, the huge manatee ~

21 posted on 11/13/2011 5:05:34 PM PST by muawiyah
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To: ChildOfThe60s
"What did you expect when you abdicated your sovereignty to the eurocrat socialists in Brussels??"

They are all socialists.

EU is the effort of bankrupt socialist countries, who ran out of lenders [other peoples' money], to palm off responsibility to the Grand Commission.

There is still plenty of wealth to confiscate.

This is the grand plan of EU founders who knew that socialism historically has a relatively short half-life.

The EU Commission is EUSSR's answer to the benevolent dictator.

yitbos

22 posted on 11/13/2011 5:07:23 PM PST by bruinbirdman ("Those who control language control minds." -- Ayn Rand)
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To: Olog-hai
The EU was Germany's baby right from the beginning.

Concise and poignant.
23 posted on 11/13/2011 5:10:03 PM PST by JSteff ((((It was ALL about SCOTUS. Most forget about that and HAVE DOOMED us for a generation or more.))))
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To: muawiyah

1870 and 1914 is the period when UK rail building occurred in Argentina ~ NOT 1825
Post-independence, then? I never said that they did rail building in Argentina in 1825; only that that's the year they recognized Argentina's independence. I also said that there can be no comparison between that and what's going on in Europe right now.
24 posted on 11/13/2011 5:17:52 PM PST by Olog-hai
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To: Olog-hai

What’s going on in Europe now is nothing compared to what went on in Argentina when the Brits collected on the debts.


25 posted on 11/13/2011 5:21:02 PM PST by muawiyah
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26 posted on 11/13/2011 5:25:01 PM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: FormerACLUmember

Change is coming—The socialist vision is done. It will bring disorder and the jackboot. Germany will have her day—Der Tag is about to happen. Germany will gain Europe via peace but rule with an iron hand. They will return Europe to greatness but at the coast of freedoms.


27 posted on 11/13/2011 5:29:13 PM PST by Forward the Light Brigade (Into the Jaws of H*ll)
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To: bruinbirdman

Somewhere and somehow I smell the odor of the Rothchilds and their centuries old intentions and game playing for monetary control. These are not good people for the good of the USA.


28 posted on 11/13/2011 5:33:22 PM PST by noinfringers2
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To: BenKenobi; bruinbirdman; All
How long before Merkel herself falls? Germany won't conquer europe, quite the opposite. Europe will conquer Germany and use her treasury and her people to feed themselves.

From Germany Resists Austerity in Budget - WSJ, 2011 November 12, by William Boston, Andreas Kissler and Matthias Rieker

From Germany invites skilled workers from Greece - AP / Breitbart, 2011 November 13, by Kirsten Grieshaber

Greece gave us the foundations of democracy. Italy gave us the foundations of republic. It's too bad that both have flirted with and adopted some forms or degrees of Utopian socialism.

Germany is doing well, even amid the slowdown of European economy, and is actually, planning on income tax cuts and balancing the budget by 2015.

That, despite having the same common currency (Euro) and the "central" European Central Bank (ECB). The difference and the problem with other countries (PIIGS - Portugal, Italy, Ireland, Greece, Spain) was years or decades of their government's profligate public spending, not so much the marginally effective policies of their central bank and/or relative weakness or strength of the currency.

We can learn from that when we indiscriminately bash the Fed (central bank) and its monetary "policies".

29 posted on 11/13/2011 5:34:54 PM PST by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: Forward the Light Brigade

Will everybody in Europe be expected to... shudder.... work?


30 posted on 11/13/2011 5:36:38 PM PST by nkycincinnatikid
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To: nkycincinnatikid

Germany will have all Europe work—in mines, factories, farms, their armies will dominate Africa for Raw materials and make enrodes in South America.,


31 posted on 11/13/2011 5:40:47 PM PST by Forward the Light Brigade (Into the Jaws of H*ll)
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To: muawiyah
They're only getting started in Europe. And they aren't building any railroads for Greece, high-speed or not.

BTW, I seem to recall that not only Britain, but Germany and Italy were trying to collect debts of South American countries by military means, at the turn of the 20th Century. That surely was flouting the Monroe Doctrine.
32 posted on 11/13/2011 5:43:00 PM PST by Olog-hai
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To: BenKenobi

Germany is the sole military force in Europe.

They are also the only viable industrial economy in Europe.


33 posted on 11/13/2011 5:45:53 PM PST by editor-surveyor (No Federal Sales Tax - No Way!)
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To: STD

The Little Horn of Daniel 7 sits in the Vatican.


34 posted on 11/13/2011 5:49:33 PM PST by editor-surveyor (No Federal Sales Tax - No Way!)
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To: muawiyah

>> “What’s happening to Greece is minor stuff.” <<

.
The Huns are not as soft-headed as the Brits.


35 posted on 11/13/2011 5:51:49 PM PST by editor-surveyor (No Federal Sales Tax - No Way!)
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To: GAB-1955
"Germany... has always [never] been able to rule Europe, [nor have]... the French "
After 300+ years of England preventing the unification of the continent, no wonder AEP is a little peeved!

Not disputing your point just remarking on the historicness of England's change of attitude.

36 posted on 11/13/2011 5:53:17 PM PST by mrsmith
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To: ChildOfThe60s

>> “The question I would ask the leaders of Greece, Italy and the other relevant nations is this: What did you expect when you abdicated your sovereignty to the eurocrat socialists in Brussels?? You sold your soul, and now payment is coming due.” <<

.
Who do you think Newt and slick Willy sold us out to with GATT?

Lots of dominos on this table.


37 posted on 11/13/2011 5:54:27 PM PST by editor-surveyor (No Federal Sales Tax - No Way!)
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To: bruinbirdman

Alright, so Pritchard disagrees with the establishment of the EMU, but it appears that he has often commented in favor of more debt and spending for Greece and Italy. It would seem that more sovereignty in those countries could have been attained by turning away from socialism. It would also seem that those who willingly joined the EMU are not victims of the more productive members.


38 posted on 11/13/2011 5:54:41 PM PST by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")
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To: nkycincinnatikid

Mom out to the store?


39 posted on 11/13/2011 5:57:07 PM PST by editor-surveyor (No Federal Sales Tax - No Way!)
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To: muawiyah

>> “I see you didn’t live through that period of history as I did.” <<

.
You’re a bit older than I had imagined...


40 posted on 11/13/2011 5:58:58 PM PST by editor-surveyor (No Federal Sales Tax - No Way!)
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To: bruinbirdman

There are forces who hate democracy and they’re not all Islamofascists. I suspect Soros is involved in the background here somewhere.


41 posted on 11/13/2011 6:02:36 PM PST by TBP (Obama lies, Granny dies.)
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To: CutePuppy

>> We can learn from that when we indiscriminately bash the Fed (central bank) and its monetary “policies”. <<

.
The Fed is an arm of European Old Wealth, not U.S. power.

The TARP money mostly shored up European institutions.


42 posted on 11/13/2011 6:05:52 PM PST by editor-surveyor (No Federal Sales Tax - No Way!)
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To: TBP

>> “I suspect Soros is involved in the background here somewhere.” <<

.
Soros’ knee, like all the others, bows to the Roth Schild (Red Shield).


43 posted on 11/13/2011 6:08:25 PM PST by editor-surveyor (No Federal Sales Tax - No Way!)
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To: BenKenobi

Yeah...and that will end well. Let’s go ahead and make the Germans feel all repressed. That always turns out well.


44 posted on 11/13/2011 6:19:59 PM PST by Vermont Lt (I just don't like anything about the President. And I don't think he's a nice guy.)
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To: Olog-hai
We were taking over the Philippines ~ Cuba, Puerto Rico, etc.

I think the government considered debt collection a sacred duty and approved of what the Europeans were doing to Argentina.

45 posted on 11/13/2011 6:33:44 PM PST by muawiyah
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To: bruinbirdman

We all know the bigger the government organization of power, the more abusive is that power. What were we thinking when the elite hatched economic globalism?????

It’s a global economic engine with all the train cars praying they won’t derail. As it derails the globalist elite will try to impose a “strong” centralized power structure for themselves and their pals to use in enslaving the whole world.


46 posted on 11/13/2011 6:56:30 PM PST by SaraJohnson
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To: BenKenobi

Pretty soon we will be hearing from our European resistence friends, “send lawyers, guns and money!” The countries of Europe don’t want to live under the boot of an EU dictatorship!


47 posted on 11/13/2011 6:58:57 PM PST by SaraJohnson
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To: bruinbirdman
The Greeks were ordered to drop their referendum on measures that reduce their country to a sort of Manchukuo, with EU commissars "on the ground", installed in each ministry, drawing up lists of state assets to be liquidated to pay foreign creditors.

And how are these 'commissars' actually *MAKING* the Greeks do anything? Do they have mystic mind-control powers that brainwash Greeks at a distance? It's one guy in one office... and if no one listened to him, the Greeks would do nothing.

All the EU can do is cut off Greece's money 'fix'. For Greece is an debt addict, spending more than they take in. And *GREECE* finds that it's in their best interest to keep getting their regular fix of easy money.

No one has forced the Greek nation or it's people to do anything.

48 posted on 11/13/2011 7:18:46 PM PST by gogogodzilla (Live free or die!)
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To: familyop
"It would seem that more sovereignty in those countries could have been attained by turning away from socialism"

Sovereignty is out in Europe.

All the socialist countries knew what they were agreeing to when they signed the Lisbon Treaty, the grand unification, Ein Volk.

AEP only suggests, though he repeatedly says it won't happen, QE to avoid (global?) fiscal and civil calamity.

yitbos

49 posted on 11/13/2011 8:31:30 PM PST by bruinbirdman ("Those who control language control minds." -- Ayn Rand)
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To: bruinbirdman

They will give them nice camps to live in, uniforms and arm bands and badges so that they can be identified.


50 posted on 11/13/2011 9:31:54 PM PST by Mike Darancette (999er for Cain.)
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