DE GROTE EURO ZONE CRISIS : The Endgame

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Oorspronkelijk geplaatst door D'ARTOIS

@ Zonbron

Voor Farage maak ik zeer gaarne en dus met alle plezier een uitzondering ......

Me 2!

Franke en Free Farage, op-en-top-politieker met stijl.

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Wilt U meer weten over onze Technocratische redders/leiders van Goldman Sachs ?

Meer hier : forum.politics.be - Ex-Goldman Sachs Directeur 'Greg Smith' Op De Biechtstoel : Waarom Ik GS Verlaat.

Deze zwendelende moreel bankroete meute heeft ook hier, in Europa, de touwtjes in handen.

Hoe lang nog ? Tot het Europees financieel bankroet onvermijdbaar is, waarna de parasiterende Squid, na het inkasseren van de laatste Eurocent, de chaos verlaat en op zoek zal gaan naar een nieuwe gastheer ?

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De gezondheidszorg in Portugal boomt verder 'snel achteruit'.

Guardian - Portuguese death rate rise linked to pain of austerity programme
Portugal's health service is being forced into sweeping cuts as last May's EU/IMF bailout terms begin to bite
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Telegraaf - Hongerige Grieken verdringen zich bij afvalbakken/Grieken graaien uit vuilnisbak

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Het ESM, de ultieme stap naar de Endgame toe. (een samenvatting/stand van zaken)

Waarom het Europees stabiliteitsmechanisme (ESM) een aberratie is

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Er werd in Portugal in 38 steden geprotesteerd. De politie trad hardhandig op tegen de austeriteitverwensende individuen.

Police attack Portuguese people protesting austerity measures

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Oorspronkelijk geplaatst door zonbron

Wilt U meer weten over onze Technocratische redders/leiders van Goldman Sachs ?

Meer hier : forum.politics.be - Ex-Goldman Sachs Directeur 'Greg Smith' Op De Biechtstoel : Waarom Ik GS Verlaat.

Deze zwendelende moreel bankroete meute heeft ook hier, in Europa, de touwtjes in handen.

Hoe lang nog ? Tot het Europees financieel bankroet onvermijdbaar is, waarna de parasiterende Squid, na het inkasseren van de laatste Eurocent, de chaos verlaat en op zoek zal gaan naar een nieuwe gastheer ?

De recepten van Goldman Sachs worden toegepast om Europa te redden.

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Oorspronkelijk geplaatst door D'ARTOIS

@ Zonbron

Voor Farage maak ik zeer gaarne en dus met alle plezier een uitzondering ......

Een clown. Ons concentreren op de ontwikkelen in Eurazië, dat is de weg.

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Overigens, Europa is zichzelf heel hard pijn aan het doen door zich te laten gijzelen door externe elementen in hun _{(die externe elementen)} hysterische waanzin tegenover Iran.

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Waarom het Europese superkanon (ESM & EFSF) niet werkt...

ZEROHEDGE - Another Failed Grand Plan In Europe

The last hour has spewed forth more disingenuous clap-trap from European finance ministers. From 'sufficiency of the firewall' to the 'absurdity of Spain needing a bailout', it beggars belief that these humans can look at themselves in the mirror every morning (as they feel the 'need' to lie' - or are simply ignorant of the reality).

European Sovereign Yields have been under pressure for most of the last month...seems the market doesn't buy the firewall idea...

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This is where things really start to break down.

Portugal, Ireland, and Greece may need more money. Fine, the ESM will either use up capital that has been paid in by all the members or will issue bonds and fund those requests. These 3 countries have already “stepped out” so don’t contribute to ESM. Since by then EFSF will have issued €200 billion of guaranteed debt, the total program will be over €200 billion. How much appetite is there if the credit quality of the remaining guarantors continues to get worse? France will have 95% debt to GDP in 2014 if they meet their aggressive targets. Those don’t include losses on their bailout contributions, so could easily get much worse from that, let alone for a slowing economy. I think there are real issues with how feasible it will be for the ESM to issue that much debt based on guarantees

But that isn’t the real problem. What happens if Spain wants money? Spain will then “step” out. Spain will not fund themselves. They are likely to do this ahead of one of the scheduled “paid in” capital calls, since it would make no sense to pay in capital once it becomes inevitable that it will need money. The moment Spain “steps” out, what will other countries do? If I’m one of the small, relatively weak countries, I run for the hills. If Spain is stepping out and asking for money there is almost no chance of the firewall working. So I would keep my money and start protecting myself from the fallout rather than giving away my last bit of money in a futile effort. If Italy needs to tap the “firewall” it is lights out.

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Jawel, U zal de rekening van de bailouts betalen en zonder twijfel wordt U spoedig verder uitgemolken. Het stigma(van deze shulden) verspreidt zich van de banken naar de souvereine belastingbetalende Europese Muppets.

ZEROHEDGE - European Bailout Stigma Shifts From Banks To Sovereigns As Bundesbank Refuses PIG Collateral

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as a former Goldmanite (and according to some - current), Draghi is merely treating Europe's taxpayers like the muppets they are. As such, fading anything he says should come as naturally as Stolpering each and every FX trade. Yet what that little incident shows is that despite all their attempts otherwise, the central planners can not contain every single natural consequences of their artificial and destructive actions. Today, we see learn that the same Stigma we warned about, and that Draghi said does not exist, is starting to spread away from just the bailed out banks (becuase we now know that the LTRO was merely a QE-like bailout of several insolvent Italian and Spanish banks), and to sovereigns. From Bloomberg: "Germany’s Bundesbank is the first of the 17 euro-area central banks to refuse to accept as collateral bank bonds guaranteed by member states receiving aid from the European Union and the International Monetary Fund, Frankfurter Allgemeine Zeitung reported."

And where Buba goes, everyone else is soon to follow. And what happens then? Since it is inevitable that Spain and Italy will be next on the bailout wagon, what happens when over $2 trillion in bonds suddenly become ineligible for cash collateral from the only solvent central bank in the world (aside for that modest, little TARGET2 issue of course). Will it force the ECB to be ever more lenient with collateral, and how long until the plebs finally realize that the ECB has been doing nothing but outright printing in the past 5 months? What happens to inflationary expectations then?

More:

The Bundesbank won’t lend to banks against bank debt guaranteed by Greece, Ireland and Portugal from May, the newspaper said, citing unidentified officials. The Frankfurt- based central bank currently has less than 500 million euros ($667 million) of those bonds on its balance sheet, FAZ reported.

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Oorspronkelijk geplaatst door Nr.10

Overigens, Europa is zichzelf heel hard pijn aan het doen door zich te laten gijzelen door externe elementen in hun _{(die externe elementen)} hysterische waanzin tegenover Iran.

Deze eindrekening van deze sadomassochistische karaktertrekjes van de E.U. zullen spoedig met onheil allerlei en waarschijnlijk zelfs met muppetbloed betaald worden.

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Spoedig ook in Uw omgeving...

HLN - Humanitaire noodtoestand dreigt in Griekenland

Alle Europese reddingspogingen ten spijt, gaat het zienderogen bergaf voor de Grieken. Zo meldt de BBC dat in de havenstad Perama een humanitaire crisis dreigt en klinken noodkreten vanuit de onderwijssector over kinderen die omzeggens niets te eten hebben. Enige tijd geleden liet een werkloze moeder haar dochter van vier jaar achter op de kleuterschool met een briefje op haar borst gespeld: 'Ik ben blut, ik kan hier niet meer leven. Help astublief mijn kind'. De Griekse regering schrapt banen en bespaart op de sociale zekerheid. Dinsdag onderhandelt minister van Defensie Avramopoulos met de VS over de aankoop van vierhonderd tanks.

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Griekenland dit, de Griek dat... zoals velen hier op het forum neerpennen. De Griek is schuldig voor zijn 'eigen' problemen en het zal ons niet gebeuren.

Welnu, Griekenland was slechts een beta test.

Zet U schrap,

- De technocraten gaan de EU volledig overnemen en onze nieuwe centrale planners worden
- Duitsland zal het fiscale beleid van de EU bepalen
- De laatste souvereinitet van de EU-leden zal als sneeuw voor de zon verdwijnen, dit zonder dat er dan ook maar een schot gelost werd. (niet nodig vanwege de grote aantallen couch patatoes, flatlinende flatscreeners, politiekers, landverraders en verder de niet verder geinteresseerden)
- Het fiscale pact zal tot aanpassingen in de grondwet van alle leden leiden, dit om een
soort van schuldenrem naar Duits model aan alle landen op te leggen.

De EUSSR is bijna volmaakt en weldra Griekse toestanden voor iedereen op komst, spoedig ook nabij U.

ZEROHEDGE - European Domination Plan; Will Enact European Budget Supervision Panel

Greece was the beta test. Now Germany, whose plan to enact a European fiscal pact in exchange for soaring Bundesbank and economic support of the PIIGS has so far delayed the inevitable, is seeking wider powers to "supervise" European budget compliance with the terms of Merkel and Schauble's fiscal pact. Spiegel writes that "Schäuble plans to propose creating independent panels of experts at both the national and EU level, who would monitor fiscal policies in the member states, the euro zone and the EU as a whole. They would be responsible for sounding a warning if they see governments' budgetary policies straying off course." Those in charge of the panels? Academics - the same people who are in charge of the Federal Reserve (with stunning success we forgot to mention). Because having a Ph.D. is sufficient and necessary to be a central planner. As for the role of the uber-commissioner? He would be able to implement EU regulations (proposed by Germany) "without the other commissioners or the Commission president having the right to object." And there goes sovereignty, without even one shot fired.

More from Spiegel:

The panels, which would be composed mainly of academics, would also be charged with checking "the compatibility of national fiscal policies with European and national requirements" as well as the "implementation of national and European regulations," according to the Finance Ministry document. Those regulations would include the tougher EU stability pact, which was adopted at a summit in March 2011, as well as the new fiscal pact, which 25 EU countries have agreed to introduce.



In addition, Schäuble's ministry is also proposing that the role of the EU's economic and finance affairs commissioner, a position currently held by Finland's Olli Rehn, be strengthened in the future. According to the ministry document, the commissioner should be able to implement EU regulations "without the other commissioners or the Commission president having the right to object."

Translated - a German run continental dictatorial regime. We can't wait to see just which countries will follow in Greece's footsteps and promptly comply with this annexation, as ceding sovereignty in exchange for a few Deutsche Marks indicates just how bad things truly are at home.

Unfortunately for the Krugmans of the world, this means that reckless spending will also be at the behest of Germany, which at least superficially is all about austerity... For others at least.

Improving member states' budgetary discipline has been a recurring theme in Chancellor Merkel and Finance Minister Schäuble's efforts to fight the European debt crisis. Berlin put pressure on other countries to sign up to the fiscal pact, which will introduce tougher rules for budget offenders. The pact will oblige countries to incorporate a German-style "debt brake," which forces governments to more or less balance their budgets, into their national constitutions. The treaty now has to be approved by national parliaments, with Germany's Bundestag expected to vote on the issue in May.

As many have expected, [COLOR="DarkRed"]Germany is well on its way to controlling Europe once again. But this time it will be benevolent. Because this time it's different. Naturally any alternatives to the proposed regime will immediately result in threats of the end of the world and other Mutual Assured Destruction caveats that we know so well from the Greek case study.[/color]

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OpenEurope : Ook Spanje zal 'hulp' nodig hebben.

ZEROHEDGE - Next Up Spain: OpenEurope Looks At Spanish Banks' Underprovisioned 20% In Toxic Loans

Een samenvatting :

"deja vu Greece?"

From the executive summary:

Given its size, the fate of the Spanish economy will also largely decide the fate of the euro. €80bn of €396bn (1/5) in loans that Spanish banks have made to the bust construction and real estate sectors is considered ‘doubtful’ and potentially toxic, meaning at serious risk of default, with the banks only holding €50bn in reserves to cover potential losses. Already dropping, house prices could potentially fall another 35%, meaning that Spanish banks will almost certainly face hefty losses as more households default on their mortgages.
In such a scenario, the Spanish state is unlikely to be able to afford to recapitalise its banks, meaning that the eurozone’s permanent bailout fund (the ESM) would have to step in, shifting the cost to eurozone taxpayers.
As domestic banks are currently the main buyers of Spanish government debt, this could also lead to major funding problems for Spain. The chances of a self-fulfilling bond run on Spanish debt would increase massively in this scenario, threatening to push the whole country into a full bailout.
Containing spending in the Spanish regions is also key to Spain rebalancing its books. The level of unpaid debt on the balance sheets of local and regional governments has risen by €10bn (38%) since the start of the crisis (now topping €36bn). This will likely be paid off by the central government, increasing the country’s debt and deficit.
Spain’s various reforms, particularly to the labour market, are welcome, but are themselves not enough to stop a bond run, as it will take time before they bite. The country’s long- term unemployment has now reached 9% of the economically active population, and youth unemployment reached 50.5% last month. This is threatening the long term productivity of the economy and whether Spanish society can sustain this level is unknown.
A Spanish bailout is far from a forgone conclusion, but more work needs to be done to avoid one. Open Europe recommends:
Spanish banks double their provisions against souring loans and commit to thorough stress tests
Strengthen labour market reforms, particularly to relieve the welfare burden on state finances, including: end wage and pension indexation to inflation, reduce size and duration of benefits, limit collective bargaining, reduce redundancy costs and improve the business climate.
However, these reforms will only stand the test of time if they enjoy political buy-in from across society in Spain, rather than being imposed from outside.

Full report/Volledig rapport hier : (pdf)

of lees hier : SCRIBD - Spanish-Banks-Will-Need-Bailout

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Meer werkloosheid in Europa in februari, dit ondanks het feit dat men in maart een daling verkondigde

BBC - Eurozone unemployment rate rises in February

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Zelfmoord in de falliete staat Griekenland

RT - Beggared by Banks: 'Greeks forced to kill themselves'
Uploaded by RussiaToday on Apr 5, 2012

The recent suicide of a cash-strapped Greek pensioner is a sign of the dire situation Greece finds itself in. It can be solved only by extreme measures such as default and giving up the euro, believes financial advisor Patrick Young.

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Gewelddadig protest breekt uit in Griekenland

TELEGRAPH - Violent protests erupt in Athens over debt suicide (+Video)

Violent protests broke out in Athens last night after an elderly man committed suicide near to the country's Parliament building, claiming he was distraught at the prospect of "looking in the garbage to feed myself".

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Nog geen revolutie in Griekenland

Guardian - Latest suicide shows Greece is in desperate straits – but it won't spark a revolution
Dimitris Christoulas is not the first or last Greek to take his own life as the financial crisis takes hold in Greece

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Problemen met Spanje : Niet Griekenland maar wel Spanje zal de echte uitdaging voor de EU worden.

BLOOMBERG - Spain Not Greece Is the Real Test for the European Union

The decisive test of the euro area’s plans for economic recovery was never Greece but Spain, and the European Union shows every sign of failing it.

The Spanish government’s new austerity plan hasn’t won investors’ confidence, and this creates a threat not just to Spain but to the whole EU. Europe’s governments need to change course before it’s too late.

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EXTRA :

BBC - Spain’s jobless level hits record 4.75 million