Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-65 next last
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
[ Post Reply | Private Reply | To 16 | View Replies]

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)
[ Post Reply | Private Reply | To 12 | View Replies]

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.))))
[ Post Reply | Private Reply | To 14 | View Replies]

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
[ Post Reply | Private Reply | To 21 | View Replies]

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
[ Post Reply | Private Reply | To 24 | View Replies]

To: All

The 2012 Conservative Battle For America
Has Begun In Ernest
Your Monthly and Quarterly Donations
Help To Keep FR In The Fight !!
Donate By Clicking Here!!

Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!


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")
[ Post Reply | Private Reply | To 25 | View Replies]

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)
[ Post Reply | Private Reply | To 4 | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 3 | View Replies]

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
[ Post Reply | Private Reply | To 27 | View Replies]

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)
[ Post Reply | Private Reply | To 30 | View Replies]

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
[ Post Reply | Private Reply | To 25 | View Replies]

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!)
[ Post Reply | Private Reply | To 3 | View Replies]

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!)
[ Post Reply | Private Reply | To 7 | View Replies]

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!)
[ Post Reply | Private Reply | To 11 | View Replies]

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
[ Post Reply | Private Reply | To 13 | View Replies]

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!)
[ Post Reply | Private Reply | To 12 | View Replies]

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")
[ Post Reply | Private Reply | To 1 | View Replies]

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!)
[ Post Reply | Private Reply | To 17 | View Replies]

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!)
[ Post Reply | Private Reply | To 21 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-65 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson