As the UK gears up for a historic vote on whether to leave the EU in just nine days, it has been claimed that a series of bizarre and costly decisions are being shelved until after the poll.
The issues have been highlighted by MEP Daniel Hannan, author of Why Vote Leave, and detail weird and occasionally sinister proposals, which have apparently been put on the back burner until after the vote. Continue reading
For much of the world, Europe seems like the poster child for responsible renewable energy policies. Unlike the U.S., which is embracing shale oil and natural gas, Europe has made little progress in developing alternative fossil fuel supplies. Part of that is due to geography, but part of it is surely due to the high level of concern for the environment as well.
While China and India continue to suffer from substantial pollution issues, Europe is for the most part a green-continent and one that is constantly pushing the envelope with environmental policies like its emissions trading system. At least that is the perception. Continue reading
Can you guess where all roads lead in Europe? If you said Berlin, who runs the Troika, you win. This is always why they have a say in the Troika’s dealings.
All mainstream news is painting the Greeks as the bad guys and the Troika as the savior of Europe. Quite frankly, it is really disgusting. Pictures of an elderly Greek pensioner have gone viral depicting what the Troika is deliberately doing to the Greek people trying to punish them for their own failed design of the Euro in a system that is just economically unsustainable.
The heartbreaking photographs of a 77-year-old retiree Giorgos Chatzifotiadis pensioner showing he has just collapsed on the ground openly in tears driven to despair outside a Greek bank with his savings book and identity card strewn next to him on the ground illustrates the horror the Troika is deliberately trying to inflict upon the Greek population. Continue reading
Finance Minister Schäuble earlier asserted that the Greek crisis will have no serious consequences for the federal budget. However, President of the German Federal Bank Jens Weidmann views the situation in a different way.
Greece’s withdrawal from the Eurozone is likely to create huge ‘holes’ in the federal budget planned by German Finance Minister Wolfgang Schäuble (CDU). Continue reading
Barring a miracle, it won’t be part of the current package, but debt relief is still the big issue that will have to be tackled at some stage
Whatever deal is, or possibly is not, cooked up for Greece, there is an important point to remember: the country’s debts, standing at €320bn (£235bn), or about 180% of GDP, are unsustainable. One way or another, a debt writedown will have to happen at some stage. Barring a miracle, it won’t be part of the current package.
This has been easy to forget as the euro circus has travelled between Athens, Berlin, Brussels and Riga in recent weeks and months. The talks have concentrated on setting the terms for the release of the last €7.2bn tranche of loans from the previous bailout.
People today are understandably confused when they hear “Fourth Reich” and Germany combined in the same sentence. They cannot put two and two together because they continue to look for Nazis running the country. There are none.
The Fourth Reich of today is economic dominance and subjugation of the European continent which will later turn the landscape into a United States of Europe — the only way for the Euro, or single currency bloc to survive. The only solution is further integration, and further integration means destroying national sovereignty from country to country and doing things the hegemon’s way.
Along with an upcoming United States of Europe will be a European Army, thanks in part to the suicide of the United States and Russian threats from the East. Many may not see it, but it’s going in that direction step by step. Whether one chooses to believe it or not doesn’t change the fact that it in fact is happening, albeit at a slow pace, before their very eyes.
If you’re still looking for Nazis, you’re 70-plus years late to the party.
Following World War II, a German return to dominance in Europe seemed an impossibility. But the euro crisis has transformed the country into a reluctant hegemon and comparisons with the Nazis have become rampant. Are they fair?
May 30, 1941 was the day when Manolis Glezos made a fool of Adolf Hitler. He and a friend snuck up to a flag pole on the Acropolis in Athens on which a gigantic swastika flag was flying. The Germans had raised the banner four weeks earlier when they occupied the country, but Glezos took down the hated flag and ripped it up. The deed turned both him and his friend into heroes.
Back then, Glezos was a resistance fighter. Today, the soon-to-be 93-year-old is a member of the European Parliament for the Greek governing party Syriza. Sitting in his Brussels office on the third floor of the Willy Brandt Building, he is telling the story of his fight against the Nazis of old and about his current fight against the Germans of today. Glezos’ white hair is wild and unkempt, making him look like an aging Che Guevara; his wrinkled face carries the traces of a European century. Continue reading
Banks are preparing staff to deal with riots after Greece switches back to the drachma.
Banks are quietly preparing for Greece to leave the EU, Süddeutsche Zeitung warned August 22. “An army of management consultants and lawyers” have spent weeks on “the infinite number of things to do,” it wrote (translation from Presseurop throughout). Continue reading
(Reuters) – The German government believes that the euro zone would now be able to cope with a Greece exit if that proved to be necessary, Der Spiegel news magazine reported on Saturday, citing unnamed government sources.
Both Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble believe the euro zone has implemented enough reforms since the height of the regional crisis in 2012 to make a potential Greece exit manageable, Der Spiegel reported. Continue reading
BERLIN/KIEV/BERN (Own report) – In the aftermath of the Western-oriented putsch in Kiev, German politicians are preparing German public opinion for the disastrous deterioration of the Ukraine economic situation. Even though it was most recently suggested that the country could only expect a thriving development by linking up to the EU, it is now – truthfully – being announced that Ukraine is practically bankrupt. The CDU European parliamentarian, Elmar Brok, predicts “difficult times” ahead: “It has never rained gold coins, except in fairy tales.” In fact back in the fall, experts had already indicated that, because of its out-dated industry, the Ukraine would have to expect dramatic economic slumps if it signs the EU Association Agreements – unemployment and poverty would dramatically rise. In a position paper, the Berlin-based German Institute for International and Security Affairs (SWP) is now proposing the introduction of a special status in EU ties for the Ukraine as well as other countries, such as Turkey. This sort of EU “second ring” would also permit the economic integration of such countries as Switzerland, which politically resists joining the EU. The SWP contends that these plans could also be used for Catalonia, should it secede from Spain and Scotland, from Britain. Continue reading
Billionaire financier and legendary speculator George Soros gave a speech today at the Global Economic Symposium in Kiel, Germany, titled “The Future of Europe.” Continue reading
The following is an article published originally in German, translated in the best way Google can offer. Because this is fresh off the German press, don’t expect it to hit American news outlets until another week or so — and likely not on the major national outlets.
When the BIS speaks, markets listen. This is essentially a jaw dropper of an announcement. They realize that all the QE heroin injections are not working and that there is no way to financially turn the American economy around — it’s mathematically impossible. They also know that the US financial leadership knows. The day of reckoning is near and it’s not just the US that will be affected and, although it will suffer the worst, the entire world over is going to go through a change unheard of in its entire history.
(Für die Lesern, dass deutschen sind, klicken Sie bitte auf dem original Link.)
The Bank for International Settlements (BIS) is the current situation on the financial markets as worse than before the Lehman bankruptcy. The warning of the BIS could be the reason why the U.S. Federal Reserve decided to continue indefinitely to print money: Central banks have lost control of the debt-tide and give up.
The decision by the U.S. Federal Reserve to continue indefinitely to print money (here ) might have fallen on “orders from above”.
Apparently, the central banks dawns that it is tight.
The most powerful bank in the world, the Bank for International Settlements (BIS) has published a few days ago in its quarterly report for the possible end of the flood of money directly addressed – and at the same time described the situation on the debt markets as extremely critical. The “extraordinary measures by central banks” – aka the unrestrained printing – had awakened in the markets the illusion that the massive liquidity pumped into the market could solve the fundamental problems (more on the huge rise in debt – here ). Continue reading
A political, economic and demographic divide has opened up between France and Germany. And, if that were not trouble enough, a new Pew Research Center survey suggests that these two countries, which have for decades been the driving force behind European integration, increasingly see the world through different lenses.
The Franco-German alliance was based on rough equality between these two continental powers. In the 1980s, West Germany’s economy and population were slightly larger than France’s, but not overwhelmingly so, and French economic growth actually exceeded its neighbour’s. Continue reading
FRANKFURT — When Wolfgang Schäuble, the German finance minister and war horse of European politics, celebrated his 70th birthday at a theater in Berlin last September, two of the most powerful women in the world offered warm words in his honor.
Ms. Lagarde’s presence reflected her close, longtime friendship with Mr. Schäuble. But it also was a confirmation of the enormous stature that Ms. Lagarde and the I.M.F. have acquired in Europe as a result of the euro crisis.
The I.M.F. has more say over crisis management than many euro zone members, and Ms. Lagarde has become a quasi head of state, whose views carry more weight than those of many elected leaders. Indeed, without the I.M.F.’s money and advice, the euro zone might have fallen apart by now. Continue reading