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Germany's Parliament Votes To Give 66% Of Country's Annual Income Tax Revenue To Banks

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Germany’s parliament today passed a bill that will mean that about 66 per cent of the country’s income tax revenue each year will go to banks in the form of interest payments on souvereign dent bonds held by Greece, Portugal and other eurozone nations.Chancellor Angela Merkel’s centre-right coalition government voted to give 123 billion as Germany’s portion of a 750-billion euro loan guarantee package prepared by the European Union and the International Monetary Fund to enable governments to keep up interest payments to banks on souvereign debt.The bill was passed by the Bundestag with with 319 "yes" votes, 73 "no" votes and 195 abstentions.The abstentions came from the center-left opposition Greens and Social Democrats (SPD) and a handful of CDU/CSU and FDP backbenchers.The 123 billion euro bank package comes on top of the 22.4 billon that Germany’s parliament voted to give Greece two weeks ago.German taxpayers will, therefore, have to give 145 billion euros or 77% of the country’s annual income tax revenue to the banks in the highly likely event of Greece, Portugal and other countries not being able to meet their souvereign debt interest payments.Snip.....Never in recent European history have governments so blatantly looted taxpayers.If nothing is done to reverse these bills, the economic and social collapse of Germany, Greece and EU nations is inevitable.Some sobering statistics in the full article here: http://www.theflucase.com/index.php?option=com_content&view=article&id=3543%3Agermanys-parliament-votes-to-give-66-of-countrys-annual-income-tax-revenue-to-banks--123-billion-qeurozoneq-package-passed&catid=41%3Ahighlighted-news&Itemid=105〈=en

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The bill was passed by the Bundestag with with 319 "yes" votes, 73 "no" votes and 195 abstentions.

The abstentions came from the center-left opposition Greens and Social Democrats (SPD) and a handful of CDU/CSU and FDP backbenchers.

what! couldn't say NO?

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Meanwhile you suggest a small dividend for all citizens or a negative income tax to help stimulate the economy.. and allegedly there is no money there.

Love how they put the sheer amount in perspective btw.

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Guest DissipatedYouthIsValuable

"But we work so hard. We printy printy and make deals. This means we are owed a lifetime of yield. Suck it up peasants."

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"But we work so hard. We printy printy and make deals. This means we are owed a lifetime of yield. Suck it up peasants."

Aah, the classic (and oft-repeated) mistake* made by the pale-skinned in warmer climes since the very dawn of time.

I can't wait to see the collective horror in the DeutcheBank dealing room when, a few years and a couple of non-delivery events down the track, they** work out what they've just agreed to.

(* enthusiastic nodding and profuse smiling means "I have no idea what you are talking about" not "yes, I share your perspective")

(** they should've asked the Northern Italians how the Argentine experiment turned out)

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Angela Merkel sounds about as idiotic as Gordo, and presumably as hated for this ideologically-motivated waste on a massive scale.

parrently, she is a higher ranking Bilderberger than any of our three masonic charges. and that includes Clegg and Cameron. both members.

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parrently, she is a higher ranking Bilderberger than any of our three masonic charges. and that includes Clegg and Cameron. both members.

It is an open conspiracy isn't it. Time for a ban on membership for elected politicians.

Edited by Frank Hovis

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http://www.independent.co.uk/news/business/analysis-and-features/euro-crisis-is-melting-support-for-iron-merkel-1980376.html

Inside the vast and soulless concrete and glass box that serves as Angela Merkel's Berlin Chancellery, David Cameron looked a bit like a freshly appointed public school head boy come to pay his respects to matron.

He beamed with the enthusiasm of new office and tasks yet to be fulfilled. His hostess, the woman until only recently hailed as the most powerful leader in Europe, looked exhausted. These days, the strain lines are beginning to show prominently on the drawn face of 56-year-old Angela Merkel.

The two were meeting in the German capital last Friday for the first time since Cameron's appointment as Prime Minister. Their body language may have radiated polite bonhomie, but the underlying differences between the two leaders could hardly have been greater.

Mr Cameron is regarded even by conservatives in Germany as an arch eurosceptic who would like Britain to have as little to do with the European Union as possible. Angela Merkel, by contrast, is seen and sees herself as "Mrs Europe" – a woman on a lone mission to rescue the single currency and the vast eurozone construct that it serves.

This week's Stern magazine identified what Germans see as the main threat to the hallowed yet controversial euro. A cartoon depicted the market as a giant and ferocious cigar-smoking bull. It was being reluctantly tethered by hundreds of Lilliputian politicians equipped with chains.

In an emotional address to the German parliament on Wednesday, Ms Merkel tried to do her bit of bull tethering. Stepping up her crusade to save the euro she announced a unilateral partial German ban on naked short selling in a move that shocked her European counterparts. "I'll boil it down to the core: the euro is in danger. If we don't deal with this danger then the consequences for us in Europe will be incalculable."

The measure intended to calm German fears about the currency not only took Ms Merkel's European partners by surprise: it also caused global stock markets to nosedive and pushed the euro to a four-year low against the dollar.

Christine Lagarde, the French Economics Minister, was not the only European minister to be miffed. She remarked tartly that the German ban ought to have been imposed in concert with Ms Merkel's other European partners. She flatly contradicted the German leader: "The euro is a solid and credible currency," she said. " I absolutely do not think that the euro is in danger."

Ms Merkel has every reason to look shattered. Despite her desperate efforts to restrain the market bull, the Germans have turned against her over the euro because she is widely seen as having failed to deal with the crisis. "It is becoming difficult to believe in the euro project," said Jörg Eigendorf, a conservative commentator.

What was perceived as Ms Merkel's dithering over the Greek debt crisis helped to lose her party a crucial election in Germany's most populous state earlier this month.

The upshot is that her "dream team" government of conservative Christian Democrats and pro-business liberal Free Democrats has now lost its majority in Germany's upper house of parliament, the Bundesrat. From now on, her coalition will face difficulties finding enough political backing to enact its reform programme.

Observers are already starting to ask whether Germany's government will last its full term, which expires in autumn 2013. If that were not enough, Ms Merkel's popularity ratings, which six months ago made her Germany's most popular post-war leader, have slumped dramatically from 70 to 48 per cent. A survey published on Thursday showed that 60 per cent of Germans thought Ms Merkel had "lost control" of the euro crisis.

It would seem that Merkel isn't so popular now in Germany.

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Aah, the classic (and oft-repeated) mistake* made by the pale-skinned in warmer climes since the very dawn of time.

I can't wait to see the collective horror in the DeutcheBank dealing room when, a few years and a couple of non-delivery events down the track, they** work out what they've just agreed to.

(* enthusiastic nodding and profuse smiling means "I have no idea what you are talking about" not "yes, I share your perspective")

(** they should've asked the Northern Italians how the Argentine experiment turned out)

What if down the track they say that circumstances have changed and simply refuse to pay?

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The bill was passed by the Bundestag with with 319 "yes" votes,..

and out of thin air 319 well paid banking jobs were created in future readiness.

Edited by billybong

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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