Posted on 12/08/2011 10:56:08 PM PST by tcrlaf
The 17 eurozone states and six other EU countries agreed early Friday to create a new treaty that will allow them to introduce stricter fiscal rules in the hope of containing a worsening debt crisis, but Britain's prime minister immediately threatened to block the new accord.
The failure to get agreement among all 27 members of the European Union at a summit meeting in Brussels reflected in large part a deep split between France and Germany on the one hand and Britain on the other. France and Germany are the two largest economies in the eurozone; Britain does not use the euro as its currency.
Britain's Conservative Prime Minister David Cameron said Friday "the institutions of the European Union belong to the European Union, belong to the 27" member states.
Cameron wished the eurozone nations luck in finding a solution to the crisis, which he conceded was in the interst of Britain, too, but said it was not in the U.K.'s interest to join the new treaty because he could not get special safeguards for the country's financial center.
(Excerpt) Read more at cbsnews.com ...
“That would mean YOU are funding a Europe Bailout, since 70% of IMF funding comes from the US.
The IMF is 70% funded by U.S., we are going to bail out the European commies.
Exactly what Timmy the Tax Cheat was doing in Europe this week. Notice how much coverage he got in the press? This will be a done deal and it will cook Obamas goose when it goes down...”
.....the IMF, and no doubt U.S. funds, ..Pan-fiscal QE II Which is the reason for no new ECB bonds. (Back door U.S. paper maker scam give-away) UK? Guess what lobby is on the hook for all those Italian bonds.
False paper-makers SYSTEM give-away. More price pressures and or sustained prices and unemployment for the U.S. They are going to try to get away with it.
There will be two rally cries in the U.S. and elsewhere on this GLOBAL Quanitative Easing II:
1. Tea Party: “One more round, we shut down.”
2. Occupiers: “One more round, we sit down.”
The German bankers have done what Hitler could not. And guess what; the German people aren’t too happy about it either (from what I hear).
Looks like Britain NOT converting to the Euro may turn out to be a lifesaver.
What was Vatican City’s argument for joining the euro?
Basically, the EU is throwing away it’s own constitution to maintain the illusion of Sovereignty a little longer. Nobody knows for exactly how long.
Cameron is throwing a wrench in the works, because the EU Constitution says if all 27 do not sign up to fiscal union, there can be no EU treaty changes. Setting up special conditions for a select group of countries, without a vote approving constitutional changes, isn’t allowed.
Of course, the usual suspects media is screaming bloody murder over this, but I think the British position is hardening.
I’m laughing. HARD. Where are all the doomsayers who were crying a few years ago that the EU would outlast us?
Latest:
Hungary has clarified it’s position, and said it will consult it’s parliament, but has NOT rejected the treaty outright as the UK did.
According to it’s Ministry of Foreign Affair, Czech Republic is conferring with it’s parliament, and still intends to join the Euro.
Nothing new about Sweden.....still must confer with it’s parliament.
Hungary and Czech Republic will now be under intense pressure to sign-up, and given how dependent the Czech Republic is on Germany for trade and finance, I won’t be surprised if they knuckle under. All of the banks here are owned by the Austrians, Germans, Belgians, or Italians, so that will no doubt have some impact on the issue.
Heck, I can walk to my nearest chain supermarket, and it’s German-owned. Lidl, Kaufland, Globus, the big ones are German (except Tesco, out of the UK). The Belgians have a big stake as well with Delvita, and I believe Billa is Austrian. The only Czech-owned grocery stores left are Jednota, and the small regional supermarket, Hruska.
The Swedes? Hard to say what they’ll do.
“I’m laughing. HARD. Where are all the doomsayers who were crying a few years ago that the EU would outlast us?”
Yeah, I know...
Remember all the media articles trumpeting the “IRISH ECONOMIC MIRACLE!!” of destroying it’s manufacturing in favor of “GREEN!” financial sector support services?
Or all the articles pimping Spain’s “GREEN REVOLUTION!”, and how it was the way of the future?
Or liberals cheering that the Euro was going to replace the dollar as the International Currency of Trade, screwing over good old George Bush?
It’s like none of that never existed today. Amazing how Orwellian our media has become, isn’t it?
Above all, NO REFERENDUMS! The actual people involved will never get a voice in the ending of their national sovereignty.
According to the press conference just given by Frau Merkel, the next step is political union.
This agreement gives Germany unprecedented financial power in Europe. Germany has become the Master of Europe. Now it has the power to whip the other nations into line with it’s economic policies, or suffer the consequences. Sarkozy has hitched his star to Germany’s, and a good chunk of the EU just did as well.
Well, I guess there’s more than one way to conquer the world, as they say. Mrs. Merkel is one hell of a poker player, I’ll say that for her.
Actually, the German proposed financial tax ploy, very clever PR device here. German based industrial vs. UK paper backers.
A clever PR counter by the Germans might be a totally anti- Keynes proposal, of a no tax regulated-audit package.
I’m watching Merkel live right now.
She’s talking like a Boss!!!
She knows that she just conquered Europe. All of Europe now kneels before Germany!
I was watching CSPAN the other night while channel surfing and it had the PM taking questions from the House of Commons. I wish the President would take questions from the House, but I digress. The discussion regarding this conference let me to believe that Britian would definitely be looking out for its own interests and screw what the rest of the EU thought.
Which means our markets are probably going to take a hell of a hit in the near term.
Let them try to enforce it. This is just another ruse.
At the end of her presser, Merkel said “I have achieved exactly what I wanted to. Merry Christmas to all.”
No joke. That’s what she said. And she was smiling when she said it.
Something about Germans smiling after they say “I have achieved what I wanted to” is.......unsettling.
And the Germans are actually making a concession by even allowing the UK paper-maker lobby back in.
The Germans are in their own way acting as Europe’s Tea Party.
She's just not very social. She doesn't socialize much with her enlightened comrades.
:) :) In the states here, the propaganda mouthpieces are now trying to prop the government- “market” as if this is a done deal and the futures are “rising” on the news. Actually however, they’ve declined since the early morning hours, and are only up 21 as of now.
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