That would mean YOU are funding a Europe Bailout, since 70% of IMF funding comes from the US.
I'm still playing catch-up on this, I'll post more as it comes.
MORE:
UK, and Hungary =are OUT of the Euro.
Only 23 of 27 nations will agree to new treaty.
New euro accord to include only 23 countries.
The president of the European Council said Friday that a new intergovernmental treaty meant to save the euro currency will include the 17 eurozone states plus six other European Union countries — but not all 27 EU members.
Still don’t know who the other two who are deciding to stay out are.
Good for them.
This will be a loo-flush of epic proportions. And it will happen quicker than the vast majority imagine.
What we in the US do not quite fathom (partially because our magnificent media MM©) will not clue us into it, is that most Euros *hate* the Germans with a passion. Therefore, this idea that the Germans, possibly with the Frenchies, will be able to dictate tax policy and entitlement policy to these smaller (and not all that smaller when you consider Italy had its president shoved out the door) nations is so far beyond abhorrent that they will poo-poo in their pantalons. This is viewed as the French or worse, the Germans, conquering these nations just a surely as if there had been a military victory. So these smaller countries are going to go bats**t.
This is the big news this week ! Everybody knows this is the big news, come on.
Things are getting ready to blow.
Large banks around the world are candidates for bankruptcy as sovereign nations default.
Everyone says “liquidity” is needed. This means short term loans, but the entity is solvent in a long-term picture. Truth be told, a lot of governments and other entities are holding a lot of assets that are debt instruments (someone owes them money) that will be defaulting. So a lot of entities have a lot more assets on their books than they have in reality.
Economic hardship is coming to Europe on a large scale. And quite probably a lot of political turmoil, as their governments find no outside entity willing to continue the “lend and spend” fantasy.
Europe should get bailed out by Soros, the destroyer of the Bank of Britain, the master behind the current destruction going on in the US, and all-around Brazilian Oil invester. He and his cabal of leftist organizations are probably much better funded than the IMF at this point, and in a better position. Unless he's gaming to destroy the IMF as well...
This year Santa will be giving out Euros to all the naughty boys and girls instead of those expensive lumps of coal.
Beware of Giethner, he’s making promises we know nothing about
Sweet! Go UK, go Hungary! We are behind you!
Looks like Britain NOT converting to the Euro may turn out to be a lifesaver.
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 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.
The Brits are literally dancing in the streets. Cameron may have just saved himself.
Wasn’t Cameron carrying the EU’s water up til now? What the heck happened? And is his conversion sincere?
Funny
I know we’re bailing all these bastards out, and when we finally run out of money, do you think they’ll thank us? No, they’ll say — just LOOK at what they’ve borrowed to continue their lavish lifestyles and now they can’t pay their debts. We’re not gonna just say, ‘oh, okay.’
Try 17%.
Try 17%.
Britains of all stripes should be very thankful Blair and others couldn’t force the UK to dump the GBP for the Euro.
Cameron made the right move in saying no to the treaty, and to the “Robinhood Tax” that would really have stuck it to the Brits for problems they didn’t cause:
“UK Was Right to Say No to Treaty: Analysts”
“...Bill Blain, senior director of special situations group at Newedge, agreed that Cameron had done the right thing and added that the financial transaction tax had been used to make Britain a scapegoat for not getting a full treaty change through...
It’s a great way to blame Britain for the failure of 17 other Europeans agreeing anything, let’s not worry about it,” he said.”
http://www.cnbc.com/id/45610153/UK_Was_Right_to_Say_No_to_Treaty_Analysts