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EU: Crisis escalates as insurrection breaks German control of Europe
The Telegraph ^ | 5/8/2012 | Ambrose Evans-Pritchard

Posted on 05/08/2012 1:13:46 PM PDT by bruinbirdman

The political dam has broken in Europe. German Chancellor Angela Merkel no longer has enough allies in the club of EU prime ministers to impose her hairshirt agenda. Her methodical plans are disintegrating on every front.


For Germany it is a moment of truth. Berlin has put off hard choices since the crisis began

The immediate fate of Greece - and the euro - is in the hands of a boyish motorcycle Marxist. Syriza leader deal Alexis Tsipras has vowed to tear up the hated Memorandum, as the EU-IMF "troika" loan package is known.

He showed no sign of backing off as he met his country's president and began talks on the formation of an implausible Left front. "The popular verdict clearly renders the bailout null and void," he said.

To those who warn that such defiance means an unstoppable lurch towards full default, a banking crash and EMU expulsion, he retorts that Greece has the "ultimate weapon". It can bring down the whole European system if EU leaders refuse to soften the terms.

This bluff may be called. "Patience among the creditor countries is running out," said Blanka Kolenikova from IHS Global Insight. Germany's media says finance minister Wolfgang Schauble is itching to force Greece out of the euro as a salutary example, sure that Europe is strong enough to withstand the shock. This, in turn, is an illusion waiting to be punctured.

Arnaud Mares from Morgan Stanley said a Greek exit would set off "massive deposit flight" from all the vulnerable EMU states. "It could unravel the single currency altogether."

It is an dangerous moment for Europe and global markets. Greece has no functioning goverment. It must decide on a series of bond repayments, starting this week. Tough choices will not wait

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


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS: eucrisis; euro; greececrisis; merkel

1 posted on 05/08/2012 1:13:52 PM PDT by bruinbirdman
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To: bruinbirdman

I read somewhere the EU is just the political form of Nazism...

Defeated in 1945 militarily - successful in bringing about the EU...

Silly Socialist! - Tricks are for kids!

Will they ever learn...


2 posted on 05/08/2012 1:17:11 PM PDT by BCW (http://babylonscovertwar.com/index.html)
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3 posted on 05/08/2012 1:24:32 PM PDT by wolfman23601
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To: wolfman23601

Don’t mention the war.


4 posted on 05/08/2012 1:25:41 PM PDT by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
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To: dfwgator

Why not?


5 posted on 05/08/2012 1:28:04 PM PDT by wolfman23601
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To: BCW

6 posted on 05/08/2012 1:29:53 PM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: bruinbirdman
"It could unravel the single currency altogether."

it will only be raveled up again in a bigger way.

does this forestall or hasten the inevitable, I dunno. but I wish they'd get it the hell over with.

7 posted on 05/08/2012 1:31:05 PM PDT by the invisib1e hand
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To: bruinbirdman

Germany does not have the resources, will, or moral authority (IMO) to hold up an entire continent of leftists. I wish them well, but don’t expect it.


8 posted on 05/08/2012 1:33:24 PM PDT by allmost
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To: F15Eagle

Pretty clear pic. wow.


9 posted on 05/08/2012 1:41:46 PM PDT by spankalib (The Marx-in-the-Parks crowd is a basement skunkworks operation of the AFL-CIO)
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To: bruinbirdman

So what happens when Greece, followed by the rest of the EU, begin to systematically default....???

France just elected a total and complete Socialist - at the behest of voters who didn’t like austerity... Thing is, austerity (i.e. - cutting social spending and welfare-like handouts) is the #1 factor in their economic woes.

And “austerity” is what we need right here in the USA!


10 posted on 05/08/2012 1:42:44 PM PDT by TheBattman (Isn't the lesser evil... still evil?)
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To: bruinbirdman
It can bring down the whole European system if EU leaders refuse to soften the terms.

And like whiny lazy progressives everywhere, give them there free stuff or their burn it all down.

11 posted on 05/08/2012 1:45:04 PM PDT by Drill Thrawl (The United States of America, a banana republic since 1913)
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To: bruinbirdman

The entire United States of Europe concept never had a chance. Operating under a single currency without the discipline of the FX markets on individual states had to end this way.

When Israel hits Iran later this year and oil spikes to $200 Europe implodes overnight, if it hasn’t already.

With the globalist shills Gates, Buffett and Munger all trashing gold this week the powers that be see the handwriting on the wall.

Financial crisis, social upheaval...and then who knows what?


12 posted on 05/08/2012 1:48:59 PM PDT by bereanway
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To: dfwgator

You have absolutely no sense of humor!


13 posted on 05/08/2012 1:50:06 PM PDT by Born to Conserve
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To: spankalib
The painting is (obviously) the Tower of Babel, but what may not be commonly known is that it is from the 1500's, by Pieter Brueghel(sp) the Elder. Having used the Tower of Babel and reversal of tongues as a symbol, the EU built this, a 751-seat building in Strasburg, France. The symbol for Europe is Europa riding Zeus, or a woman riding a beast (see Revelation). More to come later.


14 posted on 05/08/2012 1:53:57 PM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: bruinbirdman

Perhaps the insurrection should do fine without German money? Let the insurrection pay of its own debts. The vaunted Socialistis certainly have a final solution for that?! Those evil Germans anyway.


15 posted on 05/08/2012 1:59:48 PM PDT by AD from SpringBay (We deserve the government we allow.)
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To: TheBattman

1931, redux?


16 posted on 05/08/2012 2:17:05 PM PDT by RobbyS (Christus rex.)
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To: bruinbirdman
German Chancellor Angela Merkel no longer has enough allies in the club of EU prime ministers to impose her hairshirt agenda.

This is the Western European idea of a "hairshirt" agenda - one which asks utterly bankrupt nations to make some minimal concessions to fiscal reality. And the Greeks and French respond with silly tantrums, electing utterly delusional Socialist fools who apparently never learned basic arithmetic.

Doesn't matter in the end. The French, Greeks, Spaniards, etc. are running full-tilt into a few very basic economic realities - you can't spend your way to prosperity, you can't loaf your way to prosperity and you can't borrow your way to prosperity. The liberals of the US watch Europe and still don't get it.
17 posted on 05/08/2012 2:22:07 PM PDT by AnotherUnixGeek
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To: AnotherUnixGeek
German Chancellor Angela Merkel no longer has enough allies in the club of EU prime ministers to impose her hairshirt agenda.

They prefer to impose a European policy of "Germany will pay for it", of course. Except what happens when Germany says "no more"? They can't march on Germany, so that's out. They can whine, but in the end, austerity is coming.

18 posted on 05/08/2012 2:36:52 PM PDT by pepsi_junkie (Who is John Galt?)
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To: bruinbirdman

In related news...

Economic Alert: If You’re Not Worried Yet…You Should Be
http://www.freerepublic.com/focus/f-chat/2881241/posts


19 posted on 05/08/2012 3:29:18 PM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: dfwgator


20 posted on 05/08/2012 3:37:48 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: bruinbirdman

Germany has been preparing for this since last fall when they started printing Deutsche Marks.


21 posted on 05/08/2012 3:51:29 PM PDT by yuleeyahoo (Liberty is not collective, it is personal. All liberty is individual liberty. - Calvin Coolidge)
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To: yuleeyahoo

If they start printing Reichsmarks, then I’ll really worry.


22 posted on 05/08/2012 3:54:02 PM PDT by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
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To: bruinbirdman
Now Germany itself will have to adjust.

Adjust, translated from the European, means "pay."

23 posted on 05/08/2012 5:15:40 PM PDT by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: BfloGuy

Does Germany have a military? You never hear who’s beefing up their military.


24 posted on 05/08/2012 6:58:17 PM PDT by ichabod1 (Cheney/Rumsfeld 2012)
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