Monthly Archives: August 2011

Euro bail-out in doubt as ‘hysteria’ sweeps Germany

What a silly headline. The Germans are:

A) the ONLY ones to be actually earning money, though they got told off by Strauss-Kahn for exporting too much. What a wally. Still, his pension for life as ex-head of the IMF that he resigned from is a pitiful £150,000 of our money per year.

B) the ONLY ones to be approaching this crisis with some degree of sanity – refusing to bung good money after bad..

Most of Europe is so endebted (thanks very much, idiot politicians) that there is NO way out without pain.

As for the Germans, when the euro was launched there was a rule about debt not exceeding 3% of GDP. Apart from the fact that Greece lied about its stats – and everyone knew it – the Germans were PROMISED that the euro would be “serious” (like the Germans) and that they would NEVER HAVE TO BAIL OUT FECKLESS NATIONS.

The contract with the Germans has been DESTROYED and they have EVERY RIGHT to tell the rest of Europe to STUFF IT. Only a complete fool would think that bankrupting Germany was a fair price to pay for bailing out Italy.

Perhaps Mr Evans-Pritchard thinks that LIES, DECEIT, ARROGANCE and INCOMPETENCE on the part of the European elite entitles the latter to get bailed out by the Germans. Funnily enough, the Germans don’t agree, and NEITHER DO I.

I am just waiting for the Greeks and Italians to start calling the Germans “unEuropean” or of course worse. Many Greeks have already raised the Nazi word.

I also await ANY WORD of apology from European national leaders and/or the EU elite (thanks for the £80 million we now have to spend on new petrol pumps) for getting us into this shambles.

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Posted by on August 29, 2011 in European Union, Politics


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Questions, Questions …..

Lagarde: “Banks must raise more cash.”

So, thank God for Mme Lagarde. Without her we might never have known that the world was in a “dangerous phase”.

“Banks must raise more cash.” It really is fatuous rubbish. Banks do not HAVE money except which people DEPOSIT in them. They should live with that. PERIOD. Why is the taxpayer now expected to bail out the banks YET AGAIN?

As for “saving the euro”, STUFF IT. It was a good idea but destroyed by lies, greed, arrogance and incompetence, none of which the culprits are apologising for.

Electing Lagarde as Head of the IMF was a disgrace – why is this a French fiefdom? As is of course Trichet at the ECB. Does anyone know if the ECB has a RIGHT to buy junk Italian debt? WHOSE MONEY IS IT USING?

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Posted by on August 28, 2011 in European Union


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The Russians and Syria

Can anyone explain the Russian psyche? I am baffled by it. Assad is clearly a murderous, fascist thug with no legitimacy and hated by the majority of “his” people, so why are the Russians defending him in ANY WAY?

“He must be given time to implement reforms.” Does anyone think the Russians really BELIEVE this? He has had YEARS. His family has had DECADES. The sprog has only learned from his father, that to survive you murder as many people as it takes. He is copying what his father did in Hama years ago. He is deliberately trying to kill enough people in each major city in order to suppress the protests. “Reforms” mean he must GO, ergo THERE WILL BE NO MEANINGFUL REFORMS.

Is all this not bleedin’ obvious? So what is the Russians’ problem? Syria is of no strategic relevance to Russia. I am perplexed, and of course disappointed. Is it too late to bring back Gorbachev?

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Posted by on August 21, 2011 in Politics


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Sacred German Principles

the sacred German principles of sound money.

IT WOULD HAVE BEEN QUITE HANDY IF THE REST OF THE FECKLESS EUROZONE HAD ADOPTED A BIT OF THIS instead of indulging in a frenzy of idiotic borrowing and binge-spending à la Gordon Brown.

Frankly, I think we should adopt the Swiss franc …..

European superstate? JEEZ ……… NO ….. we didn’t vote for it. Actually, nobody gave us a chance. It would be based on the EU/French administrative (= vastly bureaucratic and wasteful) model and be politically and economically DISASTROUS.

Brown in the NYT? Funny how Blair and Brown are more popular in the USA than in their own country. Mind you, the USA has adopted the economic policies of a lunatic so no doubt Brown feels quite at home.

Has the FBI locked up the directors of Standard and Poor’s for treason yet? What about the Italian prosecutors investigating Moody’s et al to see if they have “broken the rules”. You must admit that is funny, when they have BurlesqueOnly as President …..


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Political Leadership

the lack of political leadership – Sean O’Grady in “The Independent”

If you are referring to Merkel’s reluctance to sign away her country’s economy then that is silly. WHY SHOULD SHE? Why do you go along with the Sarko line that Germany has to put herself in hock forever to feckless, idle, shambolic countries such as Greece? Sarko, one can understand. His own country is highly endebted, his country grinding to a halt under bureaucracy, regulations and excessive statism – what a solution to get Germany to pay for it all! But Merkel is UNDER NO OBLIGATION to toe the Sarko line.

Germany was PROMISED when the euro launched that THIS WOULD NEVER HAPPEN. Thanks to LIES, GREED and INCOMPETENCE all round, including and especially in the EU, the Germans are now put on the spot. Either bail the whole lot out or be labeled anything from “un-European” to “Nazi”.

I repeat, Germany’s reluctance to go along with this cunning but cynical plan is NOT “a lack of political leadership”. For what it’s worth, “political leadership” would have been to boot out non-qualifying countries from the euro till they sort out their act, including, Greece, Ireland, Portugal, Itraly, Spain, Belgium and France – all WAY over the 3% of GDP debt limit that euro countries promised to heed.

If there is any “lack of political leadership”, it was when all these countries recklessly over-borrowed and put their countries at the mercy of “the markets”, which of course now get most of the blame.

“You are very naughty people for lending us so much money and now demanding higher interest to lend us more just because you think we can’t pay it back – that is of course ONLY true of Greece (for the moment), and if you don’t lend us more money.”

This would be hilarious if it weren’t tragic for the PLEBS, who didn’t ask for or cause this fiasco but who are suffering most from it.


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J’habite à Quimper depuis 11 ans. J’ai beaucoup de difficulté à savoir qui me représente à Bruxelles. Je ne sais pas si c’est vous, mais de toute façon, je pense que je dois m’exprimer:

  • Je PROTESTE contre l’achat par la BCE de la dette italienne. QUI leur donne le droit de faire cela? Quels fonds utilisent-ils? A mon sens, c’est ILLEGAL.
  • C’est INUTILE, à moins que l’Allemagne pour jamais ne garantisse de payer les dettes de tous les pays endettés à mort – qui, bien sûr, dans ce cas n’ont AUCUNE raison de changer leurs habitudes.
  • TOUT CECI était depuis longtemps prévisible. AVANT le départ de l’euro, les économistes de l’élite de l’EU leur on dit que la Grèce ne pourrait JAMAIS survivre avec la même monnaie que l’Allemagne. L’EU a permis à la Grèce d’entrer quand-même.
  • Pour entrer dans l’euro (et gagner accès à l’argent de tous les autres) la Grèce a MENTI concernant ses statistiques financières. TOUT LE MONDE LE SAVAIT. L’EU a permis à la Grèce d’entrer quand-même – pour des raisons POLITIQUES. Ils JOUAIENT avec notre argent.
  • L’une des critères pour l’entrée dans l’Eurozone, c’était d’avoir une dette publique d’un maximum de TROIS POUR CENT du GDP. Peu après, la France a dépassé cette limite en disant: “Cette règle était faite pour les petits pays.” L’euro n’a JAMAIS été traité sérieusement.
  • L’Italie a maintenant une dette publique de 120% de son PBN. C’est FOU, STUPIDE, HONTEUX. Bon, les Italiens peuvent faire ce qu’ils veulent; c’est un pays indépendant (pour le moment …), mais POURQUOI JE DOIS PAYER CELA?
  • L’UE n’a ABSOLUMENT RIEN FAIT pendant que l’Italie a créé cette dette FANTASTIQUE. (La France n’est pas trop loin derrière). Pourquoi? L’UE était peut-être content de la voir, sachant que cela obligerait nous les autres (surtout l’Allemagne) de tout payer pour sauver l’euro. MENSONGES, CYNICISME,MALHONNETETE.
  • Alors, TOUT CECI est la faute de l’EU élite, avec son projet FOU et NON-DEMOCRATIQUE de créer un Etats Unis d’Europe, qu’aucun citoyen de l’Europe a pu voter. (les votes sont soit interdites ou si la mauvaise réponse (Irelande, Danemark, France) refaites.)
  • La dernière “solution” – l’accord proposé par La France et l’Allemagne (il y a d’autres nations dans l’euro?) – UNE FARCE. Ils sont partis en vacances sans donner les DETAILS. Et cela ne rentre pas en loi avant septembre. Stupéfiant ……
  • J’en ai MARRE que l’on culpabilise les “Ratings Agencies”. C’est INFANTIL. Ils ne reflètent que la situation honteuse de presque TOUS les pays, y-compris la France. C’est les gouvernements qui ont créé cette crise. L’Italie fait une interrogation sur Moody’s pour voir si l’entreprise a abusé des règlements. SURREEL. Mais maintenant, nous devons payer ENCORE un organisme très coûteux, le European Ratings Agency. A QUOI SERT CETTE STUPIDITE? On est MASSIVEMENT endetté, mais on ne veux pas assumer les consèquences, alors on crée son propre messager pour donner de meilleures nouvelles. MENSONGES. GASPILLAGE. ABUS DU POUVOIR ET DE NOTRE ARGENT.

CONCLUSION. Je répète, tout ce qui se passe, c’est la FAUTE DE L’UE et les leaders nationaux – mais M Sarkozy, Mme Merkel etc se laisser tirer par le nez par les Brusselcrats. PERSONNE NE LEUR DIT JAMAIS “NON, NON”. Leur projet est de forcer l’intégration fiscale de l’Europe. NOUS NE LE VOULONS PAS. C’EST STUPIDE. ON N’A PAS EU L’OCCASION DE VOTER CELA. ON NE VOTERAIT JAMAIS CELA. Bien sûr, c’est pourquoi on ne nous laisse JAMAIS voter.

Je proteste contre les vastes dépenses stupides et inutiles de l’UE. Que fait Mr van Rompuy? L’UE n’est PAS un état. Nous n’avons PAS besoin d’un “Président” qui coûte une FORTUNE.  Son nouveau palais a coûté TROIS CENTS MILLIONS D’EUROS, sans parler des oeuvres d’arts et tout le reste pour le décorer. Il voulait un avion personal en plus ….. Si son poste était supprimé, QUELLE SERAIT LA DIFFERENCE pour les citoyens de l’Europe – sauf qu’ils économiseraient une fortune?

Dame Ashton? SURREAL. Nous n’avons PAS besoin d’un service diplomatique qui coûte des CENTAINES DE MILLIONS. 36 “diplomates” à Barbados? C’est de la folie.

Les salaires? Un bon nombre gagnent PLUS que Président Obama et ils paient TOUS TRES PEU d’impôts. Cela vous paraît normal? C’est SCANDALEUX. L’UE est CORROMPUE.

Exemple: Peter Mandelson a DEMISSIONNE de son job à Bruxelles pour devenir “Lord”. (Merci). Alors, dans ce poste il gagnait MOINS qu’à Bruxelles (aucune surprise). Alors, pendant QUATRE ans l’UE (= le contribuable) va lui payer la différence de £62,000, même s’il ne travaille plus pour l’UE. INCROYABLE. Avez-vous jamais pris un nouveau job moins bien payé et votre employeur (que vous quittez) continue à vous payer pendant quatre ans? Moi non ….. C’est de la CORRUPTION entre COPAINS.

Je suis désolé, mais l’UE devient quasi-fasciste. Le people est traité avec mépris. Leur argent est abusé. Les traités ne sont même pas respectés. (Les bailouts sont ILLEGAUX. Ce que fait l’ECB est du VOL).

Il faut en finir. SVP, ne me traitez pas de “eurosceptic” ni “uneuropéen”. Je suis britannique. J’ai travaillé 10 ans an France, 3 ans en Allemagne et 20 ans en Angleterre. Ma première femme était espagnole, ma deuxième allemande. J’ai une fille à Madrid, deux autres à Londres, deuxs beaux-fils en Allemagne.

J’aime l’Europe, mais je DETESTE L’UE tel qu’lle est gérée actuellement par des corrompus arrogants, méprisants et incompétents. Et les leaders nationaux jouent le jeu de Bruxelles pour peur d’être nommé “un-European”.

“Sans l’euro, il n’y a pas d’Europe.” Mme Merkel. INCROYABLE. Le Marché Commun a fleuri très longtemps SANS l’EURO.  Beaucoup des membres de l’UE ne sont pas DANS l’euro. C’est comme si ces pays ne comptaient pour RIEN. La SUISSE va TRES BIEN sans l’euro, et sans même l’UE.

“L’UE a empêché la guerre.”
INFANTIL. C’est les Anglo-Saxons et les Russes qui ont sauvé l’Europe. La prochaine guerre viendra quand un pays va vouloir quitter la monstrueuse bureaucratie arrogante et gaspilleuse que l’UE est devenue.

Pouvez-vous me dire une chose? L’UE donne de l’argent (NOTRE ARGENT) à des organisations aux Etats-Unis qui opposent la peine de mort. On peut être pour ou contre (en fait, on est quasiment interdit d’être pour dans l’UE, ni même de se prononcer sur le sujet) mais POURQUOI l’UE fait de la propagande AVEC MON ARGENT dans un AUTRE pays démocratique sur quelquechose qui ne concerne QUE ce pays-là? C’est un exemple des droits que l’UE se donne de gaspiller notre argent. Nous ne vous avons PAS mandaté de faire de la propagande dans d’autre pays. Votre devoir est de rendre l’Europe plus competitive en face le la concurrence surtout asiatique. Les ressources diminuent, notre avance sur l’Asie est presque terminée, mais on nous submerge de coûts, de règles, de dépenses folles, de plus en plus d’organismes de l’UE. CELA SUFFIT

Je crois en “L’Europe”, mais l’arrogance et l’incompétence des élites sont en train de nous mener 40 ans en arrière.

Finalement, je répète – pour moi, l’action de l’ECB est ILLEGAL. Elle utilise QUELS FONDS pour acheter la dette “junk” de l’Italie? On ne PEUT PAS “sauver” l’Italie. Et si l’Allemagne le fait quand-même; vous pensez que les Italiens vont VRAIMENT se réformer?  Non, moi non plus. Ce sera de l’argent perdu dans un trou noir, et l’Allemagne sera ruiné aussi.

CE N’EST PAS LE PEUPLE QUI A CAUSE CETTE CRISE, mais L’ELITE DE L’EUROPE. Vous entendez des excuses? Des démissions? Moi non plus …… leurs salaires, leur bénéfices, leurs pensions continuent, mais nous les autres?



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Which MONEY is the ECB going to use to buy these Italian junk bonds?  Our money? Printed money? Germany’s money? Is this money BORROWED = EVEN MORE EUROPEAN DEBT?

Does the ECB think it will ever get this money BACK?

What RIGHT does the ECB have to do this?

Does ANYONE think Italy for a start will EVER carry out the deep structural and cultural reforms needed if they are bailed out?

Why has Berlusconi not been arrested for allowing his country to rack up debt of 120% of GDP and threaten to bring down the whole of the economy of Western Europe?

Is Italy’s debt AS WE SPEAK going DOWN or UP?

Why the HELL should the Germans rescue Italy when it has been so stupid?  Why can’t they simply kick Italy et al OUT till they get their act together?

Does ANYONE know any of the answers to any of these questions?


The EU and Global Competition

radical capital-product and labour-market reforms to equip the euro area for global competition.

And the chances of bringing THIS in are WHAT exactly? The EU (infused by the spirit of France and to a lesser extent Germany) is swamped with rules and regulations that would be wonderful in an ideal world but are HOPELESSLY crippling EU companies in the desperate struggle with Asia that the Global Market has brought about.

If you think that statist, overbearing France and Brussels and corrupt, non-tax-collecting Italy, Greece et al are capable of bringing in REAL reforms then you are showing a very high degree of optimism and blind faith which can only provoke incredulity on the part of those of us living in the real world.

And if the EU has not ALREADY equipped Europe for “global competition” then what the HELL has it been doing for the last few decades? I will ONLY believe the EU is serious when it cuts its own budget (AND PUBLISHES PROPERLY-AUDITED ACCOUNTS), gets rid of the second President (and rents his 300,000,000€ palace to some company) and the hapless Dame, Baroness or Lady Ashton and the BILLIONS all this nonsense costs Europe.

The creation of a European Ratings Agency is THE LAST STRAW. If you don’t like what the messenger tells you, HIRE YOUR OWN MESSENGER to tell you what you want to hear! Have you ever heard anything more LUDICROUS. Italian prosecutors are apparently investigating Moody’s to see if it conforms to the rules. RULES! WHAT A JOKE. The EU rule is not to exceed debt of 3% of GDP. ITALY has debts of ONE HUNDRED AND TWENTY PER CENT of GDP. It is a baffling wonder that they haven’t ALREADY got a junk status. What the HELL difference would a EUROPEAN Ratings Agency have to say? The whole thing is a TOTAL FARCE. The EU elite has NO CONCEPT of how to manage money. OUR MONEY.

Better in fact to let the whole thing blow up and start again on proper principles with STRICT rules. Pouring TRILLIONS into Italy, Spain and the others WON’T SOLVE THE PROBLEM, but just INCREASE DEBT ALL ROUND.


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It’s Trichet’s fault, apparently

Trichet’s failure to offer full ECB support piles on the misery


Don’t you understand that sometimes the BULLET has to be bit? Europe and the world are going to take a massive hit. There is no mechanism that man make massive debt disappear overnight.  There is nothing to be done but sit back and bear it and put in place measures to stop it happening again.

These include the BLEEDIN OBVIOUS idea (now championed by BurlesqueOnly himself) to make it LEGALLY BINDING on governments NOT to borrow more than 3% of GDP on pain of imprisonment.

Above all, we don’t want this crisis to play the game of the EU elite by bringing much closer the United State’s of Europe they so desperately crave. You can see why. Who wants to be Prime Minister of Luxembourg when you can have a shot at being President of Europe?

The crisis has been caused by IDIOTIC NATIONAL GOVERMENTS ‘(except Switzerland – not even in the EU – what a coincidence), not the fact that there is too little central control. Do you think that a centralised government would of necessity be any MORE financially responsible, with the VAST spending the EU specialises in? As for VAST entities, look at the USA. Being vast hasn’t help them. Being EUALLY STUPID as the Europeans has brought them down, NOT the ratings agencies, but STUPID GOVERNMENTS.

I think the public gets this; many commentators seem not to. Still, we must beware of “populism”, mustn’t we? After all, the elite knows best.


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Blaming “the markets”

The markets have never – within living memory – been “free”. There are multiple regulations. The problem is that the regulations are INAPPROPRIATE, and have not kept pace with globalisation. OH, and GOVERNMENTS SET THE RULES! So if you want to blame the markets, first blame the governments that have TOTAL COLLECTIVE POWER to regulate them.

However, even while blaming “globalisation” and “capitalism”, do not forget that the problems in Europe are caused by GOVERNMENTS OVERBORROWING. They CANNOT live within OUR means. It is truly PATHETIC and CRIMINALLY RECKLESS.

And the most NAUSEATING ASPECT, NONE of the elite politicians are going to suffer, their salaries and benefits being assured. Well, Merkel may suffer if she agrees to bail out the whole of the rest of Europe. She will be excoriated by the German people, and RiGHTLY SO, since they have been BETRAYED through LIES.

A) They were PROMISED on eurolaunch that this would not happen.
B) Greece entered the euro ON A LIE.
C) The bailouts are ILLEGAL according to both the German Constitution AND the Lisbon Treaty, which of course nobody was allowed to vote on.

The whole shambles is an ABSOLUTE DISGRACE for the political elite. One waits in VAIN for some sort of apology, but all we get is blame of the usual suspects.

HILARIOUS!! The Italians have a police investigation into Standard & Poor’s! Talk about shooting the messenger. These people are like sulky, surly, rather nasty and arrogant children.

PS Ratings agencies? So fed up are the EU elite with someone posting the truth about them that they are going to set up an EU “ratings agency” to tell THEIR version of the truth. So, ANOTHER vast and totally unnecessary expense for the European taxpayer. YET ANOTHER EU bureaucracy costing TENS OF MILLIONS OF EUROS.

Truly these people are shameless and TOTALLY OUT OF TOUCH.


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