Posted on 10/30/2012 11:02:29 AM PDT by Olog-hai
If one is curious why the EURUSD has been ramping as if no one will ever sell one more euro ever again, the reason is simple: the BIS is desperate to mask the fact that the fragile Greek coalition, whose creation sent Europe to the edge back in June during the Greek re-elections that just barely avoided a Grexit, has just crumbled.
And with an illiquid market, the reflexive argument always is a simple one: if someone is buying, the news must be good, so dear momo-chasers—buy along. Only the news isn't good, and in a centrally-planned world, the only buyer left are central banks, who are now solely political, and not market, forces.
What the news really is, is that with Greece poised to vote on critical labor reforms (read more layoffs) next week, which must be passed in Parliament with a majority vote in order to get the next Troika bailout tranche, the Samaras-led coalition just lost one of its three members, after the Democratic Left announced it would take its 16 votes and vote against any further austerity. …
(Excerpt) Read more at zerohedge.com ...
Those people are not anti-EU, remember. They like the idea of a ready-made empire that is ripe for remaking in their own image. The EU said nothing in the face of Italy and Hungary electing fascists and Austria’s government becoming 30 percent neo-Nazi, remember?
This is how the Welfare State dies. The people want benefits without paying for them. Governments are too weak to stand up to the voters to say we have to cut benefits or raise taxes on the middle class. So successive governments keep collapsing because the people will not vote in and support a government that will do what it takes to get them out of the mess. Ultimately, the military takes over. Goodbye, democracy.
Didn’t they sanction Austria somehow when Strache became part of the coalition government? I thought I read about that somewhere. Hungary’s a lost cause for them anyway. They have their own non-EU related problems.
These guys are bad news for the EU simply because they won’t agree to any of Europe’s demands for austerity, a little like Szyriza. They would remove themselves by default. Besides, I have a feeling that people would begin to ‘disappear’ in Greece if Golden Dawn took over.
The gay lobbyists - gone
The multicultural lobbyists - gone
I’d expect Greece would become a little like a more totalitarian Serbia, but in the end, state-wide totalitarianism is preferable to superstate-wide totalitarianism, which is what they have now. A least there will be a Greece left to salvage after the fires stop burning. I can’t say the same for countries like Sweden, which are now so deep in the multi-cult, thought police nightmare, the country is no longer recognizable.
Whatever happens, my hope is that Greece will emerge from it all having learned a valuable lesson about sovereignty.
The entire EU is such a welfare state. Therefore, what you outlined is the end game for all member states, and you will have one state rise to the top necessarily. Study the EU’s structure, though; it’s designed to give advantage to but one country.
The next European civil war will be the native Europeans against the Islamic immigrants.
2 words - Golden Dawn.
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