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The Ayatollah Buggeri

Merkel Does A Spot Of Handbag-Swinging

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Schadenfreude-laden Telegraph story.

Executive summary: Merkel has made a speech to the effect that if the governments of any more basket case Mediterranean economies and/or their cronies in Brussels believe that the German taxpayers are going to cough up again, then they can fook off. The result? Moody's issues a downgrade warning for Spain and Greece kicks off again.

Just another day a the office across the Channel...

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Schadenfreude-laden Telegraph story.

Executive summary: Merkel has made a speech to the effect that if the governments of any more basket case Mediterranean economies and/or their cronies in Brussels believe that the German taxpayers are going to cough up again, then they can fook off. The result? Moody's issues a downgrade warning for Spain and Greece kicks off again.

Just another day a the office across the Channel...

Good, About time some reality was discussed.

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Schadenfreude-laden Telegraph story.

Executive summary: Merkel has made a speech to the effect that if the governments of any more basket case Mediterranean economies and/or their cronies in Brussels believe that the German taxpayers are going to cough up again, then they can fook off. The result? Moody's issues a downgrade warning for Spain and Greece kicks off again.

Just another day a the office across the Channel...

Next year there will be massive in fighting in the Glorious Socialist Republic of The European Union, dissent among them is growing day by day. Rumpy Pumpy, Wet Ash and that old Maoist Barroso will retreat to the bunker as the victorious will overcome them. ;)

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I have to admit that I can not see what Merkel's end game is here. Basically she is forcing deflation on the PIGS whilst increasing their debts. So their debts are increasing their economies shrinking so less taxes to pay debts, so more austerity, hence more shrinkage of GDP, etc, etc. A vicious circle if I ever saw one.

The only reason I can think is that she believes that German business can them buy up all of the successful companies in these regions on the cheap but the resentment in the populations will be so large by then I foresee these countries being no go zones for Germans.

Strange times we live in.

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I have to admit that I can not see what Merkel's end game is here.

To avoid having to bend over and take it up the exhaust pipe from her own electorate in next year's elections? Opinion poll data and media commentary suggests that she took a huge public opinion hit when she stumped up for Greece.

Or, if you're a Euro-superstate conspiracy theorist, because of the risk that if she does lose power in Germany, her replacement will be a Germanic Godfrey Bloom type who will bring back the Deutschmark quicker than you can say 'Ein Volk, Ein Reich, Ein Führer'?

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To avoid having to bend over and take it up the exhaust pipe from her own electorate in next year's elections? Opinion poll data and media commentary suggests that she took a huge public opinion hit when she stumped up for Greece.

Or, if you're a Euro-superstate conspiracy theorist, because of the risk that if she does lose power in Germany, her replacement will be a Germanic Godfrey Bloom type who will bring back the Deutschmark quicker than you can say 'Ein Volk, Ein Reich, Ein Führer'?

That is what she is using to justify her position and it is tactical. The Germans are thinking 10, 20 years ahead, this is the strategic part.

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Germany should invade Greece, Spain et al. That way these places would become part of the glorious 4th Reich and the problem would be solved.

If you think about it, she's doing exactly the opposite. She's saying the PIIGS' problems are theirs, not Germany's. Merkel seems pretty isolationist to me.

You want an empire builder, Sarkozy's your man.

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maybe

Wortwoertlich meine Damen und Herren - keine Rettungsaktionen mehr :unsure:

oder

Klar und deutlich meine Damen und Herren - keine Rettungsaktionen mehr :unsure:

maybe...

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The Hun were willing to lob some money at Greece earlier because they thought the Greeks would be capable of fiscal discipline in this extremis.

The Hun are now of the view the Greeks are not which is why they now say no more (good money after bad).

Didn't the Austrians come to this conclusion a few weeks ago, when they reneged on their agreed contribution to the Greek bail out already in place?

When the Greeks and their buddies down on the Med go under, they will drag the German banks with them and at that moment, I suppose, the ECB will start printing.

But we're not there yet.

Edited by indirectapproach

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This is going to get nasty.

Who's seen Pan's Labyrinth? Vicious, brutal, low level, partisan guerilla fighting with no prisoners taken.

Greece, Spain etc is full of wannabe Commies and Marxists who would have no problem breaking a few eggs to make their Socialist utopia omelette.

It's been a good 60 years since this sort of bloodshed in Europe (aside from the Balkans, where it is almost a sport). Historic averages say it's long overdue.

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  • 309 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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