MERKEL WON'T BUDGE, SPAIN AND ITALY GET DESTROYED

TBI ^ | 6-18-2012 | Simone Foxman

[blam]

MERKEL WON'T BUDGE, SPAIN AND ITALY GET DESTROYED

Simone Foxman
June 18, 2012, 11:40 AM

The Spanish IBEX 35 and the Italian FTSE MIB got crushed today, after Greek elections failed to reassure markets that anything has changed for the troubled Spain and Italy.

Comments from German Chancellor Angela Merkel worsened the blow. She told reporters near the end of European trading that she will not budge on the terms of the Greece aid package.

In core Europe, the DAX held on to gains to end just slightly higher, but the French CAC 40 fell 1 percent.

That negativity appears to have carried over into U.S. markets, all of which appeared to drop significantly in the wake of those headlines. Only the NASDAQ is holding onto gains.

Here's Spain, down 3.0 percent:

Yahoo Finance

And Italy, down 2.9 percent:

[Boogieman]

Not with this fool in the White House.

[hedgetrimmer]

And our military gets its targets and rules of engagement from NATO.

Its a crime against our rights, our Constitution and the taxpayers who are funding NATO’s objectives.

[henkster]

Germany took a temporary economic hit when they had to assimilate the former “East Germany” and bring them up to the 21st century after decades of rotting under Soviet communism. The Germans have always had a productive economy and it still is today. It seems that among the Europeans, only the Germans and Poles care about working.

As for a “Pan-European war” that some poster refer to, I don’t see how a bunch of countries that aren’t willing to work hard would be willing to fight hard. Nothing that Europe has done in the last generation indicates otherwise. If they do declare a “war” it will be no more serious than a sorority pillow fight.

[whitedog57]

Merkel knows that the Med countries can’t be saved. This guys has some GREAT charts showing the problem.

http://confoundedinterest.wordpress.com/2012/06/18/bailout-fizzies-spanish-italian-yields-jump-spain-10s-over-7/

[Arthurio]

Germany has been prospering mightily off the backs of the PIGs. If the Euro dies, the Deutschmark will shoot up through the roof and Germany will be out of the export business.

[kevkrom]

I think the real trick was Germany managing to convince France that they’d share the control.

[Erasmus]

Ah, so Ari's Onassis on the line.

≤}B^)

[Jean2]

I don’t blame her. Why in the world should Germany; who believes in being productive and hard working, and in saving and investing be forced to constantly use their money to bail out the deadbeats of Europe.

[citizen]

I heard Dandy Don Meridith singing about the party being over on Monday Night Football all those years ago.

(I don’t think you could nickname a football player “Dandy” these days.)

[vpintheak]

I never understood the EU, still don’t. Why would Countries cowtow to another government entity. Voluntarily giving up their right as a Country to rule themselves? Don’t get it. Why should 1 Country that is doing fairly well continue to bleed themselves dry to save a broken socialist state? Doesn’t make sense to me!

[Forward the Light Brigade]

No new war—at least a major war—in Europe. The nations couldn’t afford to fight such a war. Germany is about to take over the whole of Europe without firing a shot. Der Tag is here! maybe they can do a better job than the EU. Today, Europe, Tomorrow the world. Lots of heads are going to need cracking and the unions broken to set things right. If I was an islamic person I would be packing my bag about now. watch and see the coming fight between France and Germany—it will not be pretty and we can guess the outcome. (hint: same as the one before).

[bruinbirdman]

Well, Merkel Schmerkel (East German Commie), the whole EUSSR socialist experiment is USSR collapse repeating itself. Same ideolog players (commies all).

Here is the European Communist, Third Way, Soros response:

EU: Greek agony drags on as Asphyxiation Bloc wins

"in Spain, where the government is forced to borrow money (at nearly 7%) it can hardly raise in order to shore up banks that are borrowing from the ECB (at 1%) to lend to the Spanish government (at 7%) so that the latter can… bail them out. Not even the sickest of minds could make this up!""

yitbos

[Wyatt's Torch]

I’m not sure they are going to be able to help it. I think the civil unrest after the financial collapse of Greece, Spain, Italy and then France will set off a series of massive protests, looting and anarchy. The governments are going to be forced to take up arms to put down the rebellions and then all bets are off.

[bruinbirdman]

"The governments are going to be forced to take up arms to put down the rebellions "

Hmm.... EU has experience with countries who don't want to join. They just bomb the hell out of them until they cry for mercy, then give half the country to the Islams.

How would they act if someone wants to leave?

yitbos