Skip to comments.EU: German Dominance in Doubt after Summit Defeat
Posted on 07/02/2012 11:30:44 PM PDT by bruinbirdman
Outfoxed by Club Med
Chancellor Merkel suffered a bruising defeat at last week's Brussels summit after leaders of Italy, Spain and France ganged up on her. Europe's power relations have shifted as a result. It looks like Germany will no longer be calling the shots in the EU.
It was Monti, of all people, "Super Mario," as he's called in Berlin. The affable economics professor from Lombardy, the man the German Chancellery felt was the best thing that could have happened to Italy. The man who could "save Europe," at least according to Time magazine.
It was Monti, of all people, who dropped the bomb at 7 p.m. last Thursday. At the European Council summit in Brussels, the Italian prime minister announced he would not agree to the growth pact. His Spanish counterpart, Mariano Rajoy, stood behind him.
"Are you trying to take us hostage?" Danish Prime Minister Helle Thorning-Schmidt said indignantly. Then the German chancellor spoke up and said: "That's not helpful." It's a sentence Angela Merkel reserves for serious situations.
The Italian prime minister should not believe that escalating the conflict would change anything, Merkel said, and pointed out: "I have to fly to Berlin at noon tomorrow for a vote in the Bundestag." But Monti stood his ground, knowing how much leverage he had. The markets were waiting for a decision. "Go ahead and fly home on Friday, and have them vote in Germany," he told Merkel. "I have until Sunday, and I'll wait until you return."
(Excerpt) Read more at spiegel.de ...
So they acknowledge the long-standing (and ill-gotten?) German dominance, and now portray it as being “in doubt” as though it should be maintained?
So typical of leftidiots. Dominance isn’t measured by who scores some points in a debate or vote in this context. It’s measured by who has the functional economy and the money.
All they managed to do is pizz Germany off. Real bright move, idiots...
I love Merkle and my picks for a little ROTH were all German. I pray for her. And OBAMA is discovered in the smoke backroom, mixing with the debt meisters and socialists!
Who would know this here, but for foreign press and great posters on FR?
Three cheers for the social market economy, then?
Not just no, but Hell no.
Only full blown communism can stop the German work ethic. One of the most amazingly horrid things the USSR did is manage to break that while the Wall stood.
They constantly handicap themselves - as do we - but they have the ability to out produce the mess they make. As we used to.
The larger point though is that when Europe pizzes off Germany, bad things happen. To the rest of Europe. Been that way for milenia...
The left in America wants no austerity, indeed, Obama and his cohorts simply will not discuss the need to restrain spending in any way. In Europe, the Socialists have ganged up on an international level to undermine Merkle at home as she battles to at least condition bailout on reform. It is interesting to see that Obama unsurprisingly has intervened on behalf of the Socialists.
Where is George Soros in all of this?
There is a real and fundamental divergence of opinion on both continents and between the left and right on each continent about whether the remedy for the world's malaise is to combat inflation or to combat deflation -or to put it more realistically as a conservative, should we be more worried about doing more harm and causing inflation are doing more harm and causing deflation? I believe the world is going into a deflationary environment and if inflation appears it will only appear later or as stagflation in the nearer future. Nevertheless, I think Merkle is less wrong than the Socialists in France and I have no doubt that Obama has put America on a path to destruction which can only be cured by a mixture of austerity, tax cuts, focused protectionism, an aggressive energy policy and repeal of Obama care.
The markets on both continents must be convinced that the governments are under control or they simply will not hire and invest. That invites restraint which the left calls austerity. But it is only through a rational system that we will have growth.
We know that George Soros is active in Europe as he is in America and we know that he is agitating on behalf of the Socialists. My question is how has he insinuated himself into the nuts and bolts of these negotiations?
Perhaps Chancellor Merkel forget Machiavelli was an Italian.
The affable economics professor from Lombardy, the man the German Chancellery felt was the best thing that could have happened to Italy. The man who could "save Europe," at least according to Time magazine... the Italian prime minister announced he would not agree to the growth pact. His Spanish counterpart, Mariano Rajoy, stood behind him. "Are you trying to take us hostage?" Danish Prime Minister Helle Thorning-Schmidt said indignantly. Then the German chancellor spoke up and said: "That's not helpful."By "not helpful" Merkel meant "not helpful to me". Ironically, this will probably strengthen her hand at home.