Don't tell me I was LIED TO AGAIN!
"Euphoria fades over euro rescue; EU prepares tougher oversight of economies" by Aoife White and Verena Schmitt-Roschmann, Associated Press | May 12, 2010
They just got their trillion bucks yesterday!
These guys are like drug addicts whose tolerance has been spent.
BRUSSELS — The German government backed a $1 trillion rescue package for Europe’s troubled currency union as European Union officials readied tougher oversight over budgets and economies of most member countries in an effort to contain the region’s troubling debt crisis.
The startling size of the EU package, agreed to early Monday, initially lifted the euro and stock markets, but by yesterday the euphoria had ebbed on concerns that simply making more loans available didn’t address the crippling levels of government debt in countries such as Greece and Portugal....
No, in fact, it MADE IT WORSE (except for bankers).
The Greek debt tragedy has become Germany’s burden because Berlin will provide the largest chunk of the eurozone rescue package available to all countries if they need it — at least $156.2 billion — and a separate bailout for Greece agreed earlier that did little to halt the crisis. Germany’s share of that is $28.32 billion.
The idea of shouldering the debts of less thrifty countries is unpopular with frugal German voters, who showed their disapproval of Chancellor Angela Merkel by voting her party out of power in a key state election on Sunday....
How do you like the INSULT, German people?
Yeah you are FRUGAL because you do NOT WANT TO PAD the POCKETS of BANKSTERS!
The package troubles even some of Merkel’s advisers.
Then it is NOT a GOOD IDEA!
Merkel has tried to couple her backing of the unprecedented bailouts for spendthrift eurozone nations with calls for them to shape up their finances — or ship out of the euro....
I think that is a GREAT IDEA!
BRUSSELS — European Union officials urged a crackdown on widespread government overspending, calling for much closer economic coordination between EU nations to curb the acute debt crisis that has threatened to sink their shared currency.
So the "CRISIS" ADVANCES the GLOBALIST AGENDA yet again, huh?
Yesterday’s plan by the EU’s executive commission advocated unprecedented scrutiny of countries’ spending plans even before they go to their national parliaments — and new financial penalties for rulebreakers.
I would want out of the euro -- especially with it sinking like a Led Zeppelin.
That would deepen the ties that bind 16 nations in Europe’s currency union and would curtail some nations’ power over their own economies in an attempt to keep more reckless spenders like recently bailed-out Greece from dumping their debts on all eurozone members.
So the CRISIS is FURTHERING GLOBALIST CENTRALIZATION, huh?
NOW you know why YOUR ECONOMY is STILL STINKING, America.
The EU is effectively extending its powers to monitor budgets by seeking oversight for the entire economy, saying this is crucial to prevent the debt mountains that have caused the euro to slide in value against the dollar and forced Greece to seek financial help from EU nations.
EU Economy Commissioner Olli Rehn said the moves would ensure that national governments’ spending plans were “consistent with European objectives.’’
They will also “lead to a substantial deepening and prudent widening of the economic and monetary union,’’ he said.
Within every crisis there is an "opportunity," huh?
Foreign Minister Guido Westerwelle of Germany, who heads the smaller party in the German coalition government, rejected the idea, saying the EU should not interfere with the “core of national sovereignty,’’ the DAPD news agency reported.
Oh, I TOTALLY AGREE!!!!
Chancellor Angela Merkel of Germany was less concerned, saying budget programs “were not secret’’ and it would not be a problem for parliaments to know the European Commission’s views on national budgets at an earlier stage. But Merkel said she didn’t believe the plans went far enough and the EU would need more radical legal changes that could require lengthy parliament votes and public polls by member nations.
Heavy European government debt loads have raised fears of government defaults, financial panic, and even the breakup of the eurozone — fears calmed for the moment by a $1 trillion bailout package announced Monday by eurozone countries and the International Monetary Fund.EXCEPT the EUPHORIA WORE OFF YESTERDAY like a crack high, liar.
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Then again, what does the MSM matter?
The GREEKS and GERMANS KNOW what is HAPPENING!
"Greek unions to strike over pensions" by Nicholas Paphitis, Associated Press | May 13, 2010
ATHENS — Greek labor unions announced a new general strike to protest pension reforms next week, as government officials waited yesterday for the first installment of a $140 billion rescue package designed to stave off bankruptcy....
The Mediterranean country’s acute debt problems, resulting from years of overspending and falsified accounts, have battered global markets and weakened the euro. In response, the European Union and the IMF threw together a $952.35 billion package early Monday to prevent the debt crisis from spreading and protect the common euro currency. That package came in addition to the billions already pledged to Greece.
Where is YOUR TRILLION DOLLAR REPAIR PACKAGE, taxpayers?
Yesterday, EU officials also advocated unprecedented scrutiny of countries’ spending plans even before they go to their respective parliaments for approval, as well as serious financial penalties for countries that break the rules....
So the "crisis" FURTHERED GLOBALISM like some sort of SHOCK THERAPY, right?
And up in Germany:
"Loss in German vote curbs Merkel’s power" by Geir Moulson, Associated Press | May 10, 2010
BERLIN — Angela Merkel’s center-right alliance lost a key election in Germany’s most populous state yesterday, costing the chancellor her majority in the upper house of Parliament and curbing her government’s power.
The state election in North Rhine-Westphalia — the first electoral test since Merkel’s second term started in October — had loomed over European efforts to tackle the Greek debt crisis.
Merkel initially held out on agreeing to aid for cash-strapped Athens, prompting German opposition parties to accuse her of avoiding an unpopular decision in the election run-up....
“This is of course a warning shot for the governing parties, and the people should know that it has been heard,’’ said Foreign Minister Guido Westerwelle, a Free Democrat. “We must make an effort to win back lost trust with hard and good work.’’
INCUMBENTS OUT!
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The Social Democrats fell just short of a majority to govern along with the Greens. They could try to form a previously untried alliance with the Left Party or a “grand coalition’’ with the conservatives.
Merkel is likely to have a harder time running Germany, Europe’s biggest economy, without a majority in the upper house....
Oh, I feel so sorry for her now, don't you?
Isn't that what DEMOCRACY DEMANDED in Germany?
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