Merkel's coalition holds, passes euro bailout

The Local (Germany) ^ | September 29, 2011 | Staff

[AnAmericanAbroad]

The Bundestag approved the expansion of the eurozone bailout fund by a huge majority on Thursday. Chancellor Angela Merkel breathed a sigh of relief as 315 government MPs voted her way, averting a damaging revolt.

[AnAmericanAbroad]

Well, looks like the EU managed to save their bacon for the foreseeable future. I think they're trying to hold out for two years, to shore up Greece as best they can, and for the Italian and Spanish banks to recapitalize. Of course, it also looks the German taxpayer is now on the hook for a considerable chunk of change.

[ken21]

and that’s the solution? to grow the reserves of spanish banks?

and greece stays in the fold with reduced spending and does not go bankrupt?

[AnAmericanAbroad]

It’s not the proper solution from a market-based point of view.

However, please bear in mind we’re talking about professional politicians here.

It’s the proper POLITICAL solution. The professional politician class is 100% committed to the Eurozone, and they’ll stick with it come hell or high water. Did anyone really expect anything else?

[Buckeye McFrog]

How do you say “Tea Party” in German?

[AnAmericanAbroad]

Tee Partei, I believe.

There is a fiscally conservative party in Germany, the FDP I believe. However, in recent elections, they’ve been getting wiped out almost everywhere. The trend in Germany is toward the SDP (Social Democrats) and the Green Party. They’ve been doing quite well as of late, and if the elections were held now, I think they’d win a governing majority. In other words, the German electorate is trending Left.

[blueunicorn6]

GimmegimmegimmegimmegimmeOpa!Opa!Opa!GreeksplaywhileGermanspayOpa!Opa!Opa!gimmegimmegimmegimmegimme

[Siena Dreaming]

Looks like this was Merkel's "Fall of '08" moment.

Now what left-wing demogogue politician is waiting in the wings to divide her from the right and claim how badly Merkel has been running things?

[AnAmericanAbroad]

Yeah, but this wasn’t unexpected. Looks like Greece gets to party on for a while longer, while Germany foots the bill.

[AnAmericanAbroad]

No left-wing demagogue is needed.

Merkel is quite unpopular in Germany, and recent regional elections have shown that. I’m figuring a coalition of the SDP/Greens will be the next Federal Government.

[Fee]

Merkel just brought time, because the German people are against the bailouts. Like Iceland, the politicians will be replaced with a direct referendum and the bankers will end up with a national default. New trend in the Western democracies will be direct referendum.

[Siena Dreaming]

I’m figuring a coalition of the SDP/Greens will be the next Federal Government

This confirms to me that a left-wing demogogue is about to take the spotlight.

[mewzilla]

Correct me if I'm wrong, but the Europeans don't have enough money to bail themselves out.

I have one word for American taxpayers:Incoming!!!

[AnAmericanAbroad]

Or, BOHICA.

[ken21]

george soros actually said that europe should divest itself of greece.

[Sea Parrot]

Merkel’s coalition holds, passes euro bailout, for now. Man proposes, reality disposes.

[Kozak]

So near as I can figure this out, a soveriegn debt crisis that is sinking Euro banks is going to be “solved” by taking 400 Billion in borrowed Euros, and leveraging it into a 3 to 4 trillion Euro fund. Solving a debt and credit crisis with more debt and credit.....