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German endgame for EMU draws ever nearer
The Telegraph ^ | 9/4/2011 | Ambrose Evans-Pritchard

Posted on 09/04/2011 11:38:09 PM PDT by bruinbirdman

For fifty years Germany has invariably stumped up the money required to keep Europe’s Project on track, responding to unreasonable demands with grace and generosity.


We will find out to what extent Germany's constitutional court (pictured) shares
these views when it rules this Wednesday on the legality of the EU rescue machinery

It bankrolled French farmers through the Common Agricultural Policy, that disguised tithe for war reparations. It then bankrolled Spanish farmers as well.

It funded each new wave of EU expansion, though reeling itself from the €60bn annual cost of its own reunification. It gave up the cherished D-Mark, the anchor of German economic stability.

We are so used to German self-abnegation for the sake of Europe that we can hardly imagine any other state of affairs. But the escalating protest against EMU bail-outs by Germany’s key insistutions go beyond the banalities of money. The fight is over German democracy itself.

Those who talk of a Fourth Reich or believe that EMU is a "German racket to take over the whole of Europe" – as Nicholas Ridley famously put it -- have the matter backwards.

Germans allowed their country to be tied down with "silken chords". They are the most reliable defenders of freedom and parliamentary prerogative in Europe, precisely because they know their history.

Finance minister Wolfgang Schäuble could hardly have chosen a more toxic term than "Bevollmächtigung" or general enabling power when he requested blanket authority from the Bundestag for EU rescues, as if Weimar were so soon forgotten. He was roundly rebuffed.

You can feel the storm brewing in Germany. Within days of each other, President Christian Wulff accused the European Central Bank of going "far beyond" its mandate and subverting Article 123 of Lisbon Treaty by shoring up insolvent

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS:

1 posted on 09/04/2011 11:38:10 PM PDT by bruinbirdman
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To: bruinbirdman

great article


2 posted on 09/05/2011 1:05:40 AM PDT by wiggen (The teacher card. When the racism card just won't work.)
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To: bruinbirdman

time for Germany to stop bailing out the rest of the EU


3 posted on 09/05/2011 1:06:39 AM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: GeronL

I’m joking, but perhaps Omoslem’s plan is a Fourth Reich, combined with his Libya/Egypt/Iran caliphate, all attacking Israel.

The NAZIS, teamed up with the Moslem Brotherhood.

Wait, maybe I’m not joking.


4 posted on 09/05/2011 1:13:08 AM PDT by LyinLibs (All moslems are somewhere on the killing-you spectrum)
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To: bruinbirdman

Liberals in the US continue to use the issue of slavery as the means of extracting cash for socialist power.

Liberals in Europe use the issue of Nazi Germany for the same cause.


5 posted on 09/05/2011 2:09:47 AM PDT by Erik Latranyi
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To: bruinbirdman

The world needs to realize, SOCIALISM DOESN’T WORK.


6 posted on 09/05/2011 2:27:37 AM PDT by exnavy (May the Lord bless and keep our troops.)
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To: bruinbirdman

Germany may end up saving them all by stopping the bailout nonsense.


7 posted on 09/05/2011 2:49:07 AM PDT by Scotsman will be Free (11C - Indirect fire, infantry - High angle hell - We will bring you, FIRE)
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To: Erik Latranyi
Liberals in the US continue to use the issue of slavery as the means of extracting cash for socialist power.

Liberals in Europe use the issue of Nazi Germany for the same cause.

That's a very good analogy.

8 posted on 09/05/2011 3:35:14 AM PDT by BfloGuy (Keynesians take the stand that the best way to sober up is more booze.)
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To: Erik Latranyi

Bingo.


9 posted on 09/05/2011 3:51:09 AM PDT by ut1992 (Army Brat)
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To: exnavy
"SOCIALISM DOESN’T WORK"

And why doesn't it work?

(1) It requires a totalitarian state for its establishment and implementation.

(2) It rewards nonproductivity and punishes productivity.

(3) It inevitably destroys the economy.

All this is obvious to all honest, intelligent people, and yet millions are convinced that they can overcome its obvious self-defeating flaws and make it work. They can't.

Furthermore, in order to give it a try, they must ignore the obvious built-in flaws that it requires totalitarianism and destroys the economy, and, in trying it yet again, what they produce is an impoverished police state.

10 posted on 09/05/2011 4:04:30 AM PDT by Savage Beast ("That is the great eternal question: Are 'Liberals' evil or stupid?" ~Ann Coulter)
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To: exnavy
"The Road to Hell is paved with good intentions."

11 posted on 09/05/2011 4:05:28 AM PDT by Savage Beast ("That is the great eternal question: Are 'Liberals' evil or stupid?" ~Ann Coulter)
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To: bruinbirdman

12 posted on 09/05/2011 11:55:24 AM PDT by Paleo Conservative
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To: exnavy

Tell that to AMERICA!


13 posted on 09/05/2011 4:44:50 PM PDT by 353FMG (Liberalism is Satan's handiwork.)
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