Germany Has Made Over 3 Billion Profit From Greece’s Crisis Since 2010

Extorted, subjugated and conquered. Greece has been a German vassal state for years already.

 

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Germany has earned around 2.9 billion euros in profit from interest since the first bailout for Greece in 2010.

As KeepTalkingGreece reports, this is the official response of the Federal Government to a request submitted by the Green party in Berlin.

The profit was transmitted to the central Bundesbank and from there to the federal budget. Continue reading

“It’s A New Chapter For Europe”: Merkel, Macron Unveil Plan To Reform Europe

Lost among the other overnight news, was the launch of “a new chapter” for the EU as termed by Germany’s troubled chancellor Merkel. After her meeting with French President Macron on Tuesday, Merkel said Germany and France have agreed to cooperate to reform the EU’s asylum system as both “understand the topic of migration is a joint task” and “our goal remains a European answer to the challenge.” What she really meant is that if her government is toppled by the collapse of the CSU-CDU coalition – recall Merkel has a 2 week ultimatum to reach a solution on Germany’s treatment of refugees by July 1 – the rest of Europe gets it too, and the grand experiment is over.

Aside from immigration, the two leaders agreed to an in principle plan to strengthen the Euro area, including setting up a euro-area budget and a crisis backstop under the ESM (European stability mechanism), although they postponed decisions on some elements which could prove consequential. Chief among them: specifics on the size and conditions of the euro-area budget. Continue reading

Why Italians are fed up with Europe

Joep Bertrams

 

The rise to government of Eurosceptic parties is the consequence of austerity policies made in the name of cleaner public finances and of the euro convergence criteria.

Two Eurosceptic forces are now governing Italy. On one hand the 5-Star Movement, the anti-system party of Luigi de Maio founded by the humorist Beppe Grillo. On the other, far-right xenophobic Liga led by Matteo Salvini. How could this have happened? How did one of the European Union’s six founding members, host of Treaty of Rome in 1957, and for a long time the EU’s most Europhile country, give a parliamentary majority to groups so hostile to European integration? Continue reading

A Central Banker’s Plan for Your Money

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[Shutterstock]

 

Jim Rickards calls them “silent dog whistles.”

Through these signals, in the frequencies beyond normal human hearing… elites communicate with each other.

Their communications are public.

But their language can be so thick, so technical — so innocuous — not one in a hundred can crack it open.

Only the intended audience can penetrate the deeper message within… and that audience is their fellow elites. Continue reading

The EU’s Backdoor Path to a Unified Superstate

For years there has been a struggle in the Eurozone between those that want to transform it into a transfer union and those that who want a Europe of independent and cooperating countries. The latter including Austria, Finland, the Netherlands and Germany want strict limits for deficits and debt brakes as envisioned in the Fiscal Stability Treaty. Some, such as the European Constitutional Group, even demand a mechanism for an orderly break-up of the Eurozone. The former including Mediterranean member states led by France, do not openly call their objective a fiscal union or the creation of a “European Super State” but prefer to talk about a “deepening of the European project.” The reason for this division is straightforward: The central and northern European countries would be the contributors to a transfer union while the club Med would be on the receiving side. Continue reading

The Central Bank Crisis on the Immediate Horizon

 

While the majority keep bashing the Federal Reserve, other central banks seem to escape any criticism. The European Central Bank under Mario Draghi has engaged in what history will call the Great Monetary Experiment of the 21st Century – the daring experiment of negative interest rates. A look behind the scenes reveals that this experiment has been not just a failure, it has undermined the entire global economic structure. Continue reading

EU goes Head-to-Head with USA in growing currency war – ‘We are Concerned!’

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Washington and Brussels are locking horns in a dispute over currency, tax and trade [Getty]

 

THE EUROPEAN Central Bank has accused the US of manipulating exchange rates as tensions between Brussels and Washington continue to escalate wildly.

The ECB is concerned the US is attempting to exert “political influence” on exchange rates, with the issue set to explode into outright confrontation at an upcoming G20 meeting.

The eurozone bank said it was “certainly concerned” by perceived attempts to influence the exchange rate in favour of the US dollar.  Continue reading

EU Plan Lets Banks Take Deposits in Crisis

The European Central Bank has unveiled a new set of banking plans that will allow failing banks to freeze their deposits in the event of an economic catastrophe to prevent further bank failures.

 

The European Central Bank has unveiled a new set of banking plans that will allow failing banks to freeze their deposits in the event of an economic catastrophe to prevent further bank failures. Continue reading

Japan’s Shifting Power Alliances

 

I’ve just wrapped up a long trip to Japan. And I’ve taken away one lesson from all of my conversations, speeches and research: The rise of nationalism in the U.S. will cause massive shifts in global trade alliances.

One of the main beneficiaries will be Japan. Now, Japan might not be on your radar, day-to-day, but it’s about to play a very important role in the world of Donald Trump.

Here’s what I mean… Continue reading

ARMSTRONG: Major Central Bank May Fail Next Year

Many analysts are fearful of an impending downturn as early as next year. In an exclusive interview with FS Insider, legendary forecaster Martin Armstrong of ArmstrongEconomics.com explained his outlook on the global economy and markets, including a bold call that, as early as next year, “we’re looking at a central bank that can go bankrupt” — a topic that will be the focus of a July conference in Frankfurt.

Armstrong is a unique, contrarian thinker and has made a number of accurate forecasts over the years, especially since we’ve been speaking with him on our podcast. A key theme of his analysis is that economic growth is likely to remain stagnant as nations around the globe struggle with large debt burdens. However, rather than calling for a collapse in the dollar and the US stock market, as many bears have long predicted, Martin has taken the opposite view, focusing instead on the needs of institutional investors to earn yield by increasingly allocating capital into stocks and highly-rated corporate bonds, which helps to fuel the stock market higher. Continue reading

European Commission Trying to Seize Control of Euro

 

 

I reported previously that the European Commission is seeking to take the clearing of the Euro derivative transactions from London and move them to Paris. The European Central Bank (ECB) is warning that it must secure strong access rights for the supervision of the cross-border settlement of financial transactions after the departure of Great Britain from the EU. About 90%+ of all euro derivatives transactions are settled via clearing houses in London such as LCH.Clearnet. In the middle of a crisis, the ECB would have no power to shut the market to protect the euro from the free market forces. Of course, what they fail to grasp here is trying to seize the euro clearing and move it by decree to Paris will only undermine the euro even more. What will they do next? Forbid the euro to trade in New York, Chicago, or Asia? Do that and the euro will become a massive short.

Continue reading

Spain’s hemorrhaging Banco Popular bought by Santander for €1

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Santander has bought Banco Popular for €1 [Getty]

 

BANKING heavyweight Santander has agreed to buy toxic lender Banco Popular for just €1, saving the giant from total collapse.

Spain’s biggest bank must now inject around £6.1billion worth of cash into the bankrupt lender to cover its book of disastrous property loans.

Continue reading

Is France About to Destroy the EU?

With the Geert Wilders loss in the Netherlands, we saw the nationalist movement hit the brakes. If Le Pen loses the election in France, everything will be reversed and the German-dominated EU will continue it’s forced integration of member nations, further subjugation and removal of national sovereignty across the board.

Jean-Luc Melenchon (SEBASTIEN BOZON/AFP/GETTY IMAGES)

 

France’s most popular politician believes the ‘German Empire is back’—and that it must be confronted.

France now has two leading presidential candidates that view the European Union as a German empire and want it destroyed. Between them, they have the support of over 40 percent of the voters.

The far right’s Marine Le Pen is tied with the moderate Emmanuel Macron for first place, holding 24 percent of the vote, according to an Ipsos poll. But speeding into third place with 18.5 percent is the far-left Jean-Luc Mélenchon.

With the first round of the election scheduled for April 23, Mélenchon received a major boost after a strong debate performance on April 4. Another poll found Mélenchon was France’s most popular politician, with 68 percent saying they had a favorable opinion of him. Continue reading

Transatlantic Trade War

BERLIN/WASHINGTON (Own report) – In the looming trade war between the EU and the USA, Brussels is threatening to officially denounce the United States as a “tax haven.” The EU Commission is currently preparing this affront to the world power, following Washington’s strong criticism of Germany’s excessive trade surplus. In the six years, from 2010 to 2015 alone, this surplus has led to an outflow of nearly a quarter trillion euros to Germany from the United States because of the “grossly undervalued” euro, according to Trump’s trade advisor Peter Navarro. This has been confirmed by the Bundesbank’s recent analysis, showing that through its monetary policy the European Central Bank (ECB) has contributed to the euro’s undervaluation, which in turn has facilitated record German exports and the large US deficit. The trade conflict is flanked by a propaganda offensive against the Trump administration, exploiting the new US president’s racist and chauvinist policies to designate him as an enemy. This conflict could lead to the first major power struggle between Germany and the United States since 1945. Continue reading

Draghi Admits EU May Breakup For First Time

For the first time, the head of the European Central Bank, Mario Draghi, has conceded the possibility that the EU may fall apart. Draghi came out and said that any member leaving the Eurozone would need to settle its claims or debts with the bloc’s payments system before severing ties. This statement reveals the heated discussion at Davos and the rift that is beginning to spread. This statement, released on Friday, was made in a letter to two Italian lawmakers in the European Parliament. Continue reading