Posted on 10/10/2012 10:06:06 PM PDT by Olog-hai
Germany is demanding greater power on the board of the eurozone’s new bank supervisor, a politically charged request that further complicates Europe’s fractious talks on a banking union.
Berlin’s proposal for voting weights to match the bigger size of its banking sector gives voice to longstanding German concerns about being outgunned under the European Central Bank’s one-country one-vote governance system.
But the idea—raised privately in talks with European officials—touches on some of the founding principles of the single currency and is likely to rile smaller eurozone countries fearful of Germany’s growing willingness to flex its muscles. …
(Excerpt) Read more at ft.com ...
Nothing good can come of anything that begins with, “Germany demands more power.”
Nothing good can come of anything that begins with, “Germany demands more power.”
At first I thought there was a baking crisis - Germany Demands more baking powder. It’s late....
Well, the alternative is Germany pays the other countries, and has such a small vote and influence that they must simply pay the bill that the other countries write up.
That would kind of become the same thing over and over.
Why would the “borrowing”/”taking” countries every vote to get off the gravy train ?
The Euro politicians have been promoting the myth of socialism for decades.
They will be running out of other people’s money soon.
Big unrest coming, many people becoming poor.
All they need is a) stop government social spending, b) remove social-legal constraints on small business, c) use citizen politicians instead of political “class”, d) stop government borrowing.
Same fix U.S. needs. U.S. unrest will be less severe because culturally more of us have a personality where we would rather just work for ourselves and not have so much government when it really comes down to that or being broke.
I don’t think many people are aware of the government borrowing problem and that the government should not have to borrow.
As people from the other EU countries flock to Germany for work, and their leaders flock to Germany for bailouts, the German government should “demand more power”; they have a lot to lose.
And here I thought the Irish were known for their humor?
Not in Ulster...
:(
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