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okaycuckoo

Europe Pulling Three Ways

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We had a thread a couple of years on Germany's legal position on cross-border transfers:

http://www.housepric...pic=170269&st=0

Bazickly, German constitutional court says Nein - Merkel etc have to hold a national referendum.

Here's the latest - still no sign of even a softening-up for a referendum campaign, and Cameron sticking his oar in:

"We'll only do this on a clear legal basis, because I don't want risks in Karlsruhe," the western German city that's the seat of the country's highest court, Schaeuble said in reference to the banking supervisor.

A similar discussion on treaty limits will arise concerning the European resolution mechanism, Schaeuble said.

The supervisor, like other parts of the planned banking union, would cover the euro area, with EU nations outside the currency bloc free to join if they wish.

Danish Economy Minister Margrethe Vestager said that the EU should press ahead "as quickly as possible" with plans for a joint mechanism to handle failing banks.

U.K. Chancellor of the Exchequer George Osborne told counterparts that Britain would seize on any reopening of the bloc's treaties as an opportunity to put forward its own requests. U.K. Prime Minister David Cameron is seeking to recast the nation's relationship with the EU by repatriating powers, before putting the new settlement to a referendum.

edit: link http://www.bloomberg.com/news/2013-04-13/eu-set-to-clash-on-bank-deal-as-germany-sees-treaty-limit.html

Edited by okaycuckoo

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There is a growing debate in Germany about 'less Europe'.

The new anti-EU party is also giving voice to concerns.

From Deutsche Welle

Berlin's political class watched this weekend as the Alternative for Germany party was officially established. The newcomer group is highly critical of euro zone rescue measures and seeks to abolish the joint currency.

The core of its platform is its criticism of the policies intended to save the euro and advanced by Angela Merkel as well as those Lucke dubs "Brussels bureaucrats." Several thousand citizens have joined the party in the last few weeks alone.

When it comes to the mood in Germany, Lucke believes that many people are immensely angry about the direction of euro zone politics.

The AfG wants to avert further damage to Europe and Germany, viewing the introduction of the euro as a historic mistake. Germany must leave the currency because the current approach is a threat to peace in Europe as well as being far from legally or economically responsible. The European Stability Mechanism represents a "breach of law."

Lucke's speech also criticized European parliamentarians for purportedly becoming mere henchmen to national governments, who the AfG leader says are not serving the people who are suffering in Southern Europe, but rather, the interests of large-scale investors and hedge funds.

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Europe in its current form is doomed to failure because there is no way the 'poor' states people will hand over sovereignty to German banks.

Every person I know who comes from a bordering country with Germany is very worried and distrustful about what the German governments intentions are, including a lot of Germans as well. They don't have a good track record.

Edited by cashinmattress

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Every person I know who comes from a bordering country with Germany is very worried and distrustful about what the German governments intentions are, including a lot of Germans as well. They don't have a good track record.

Quite a good article in The New Statesman on the subject of rising Germanophobia. Cambridge History Professor, Brendan Simms, writes about the 'spectre that is haunting Europe'.

This period has witnessed a surge of political and popular Germanophobia across the continent.

In Italy, Silvio Berlusconi has made a remarkable electoral comeback by attacking Berlin. In Ireland, long the home of a sneaking regard for Britain’s old rival, the conditions imposed during the bank “bailouts” have led to a surge in hostile media and political commentary.

In Greece, hatred of Germany – seen as the driving force behind Greek economic “enslavement” – has reached such a pitch that Chancellor Angela Merkel needed the protection of thousands of policemen on her last visit to Athens.

The problem is that, in this crisis, German politicians tend to emphasize almost exclusively the poor conduct of the countries at the periphery of the EU, and they see changing this conduct as a prerequisite for changing the EU's political structure.

By taking this position, they're failing to recognize that this poor conduct was in part a result of a design flaw in the way the euro was implemented, which led to the countries at Europe's periphery being flooded with new, cheap money.

My fear is that Germany's policies on this point consist solely of setting the European periphery conditions it can't fulfill.

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Quite a good article in The New Statesman on the subject of rising Germanophobia. Cambridge History Professor, Brendan Simms, writes about the 'spectre that is haunting Europe'.

It's hardly a case of 'Germanophobia' when you still have millions of people across Europe that lived under the jackboot of German imperialism.

Better to call it being cautious and also very concerned.

EDIT: and lets not forget that the Germans were forced to stop that imperialism through massive bloodshed on all sides. It didn't end through some natural ideological change and reconciliation, or overnight epiphany on their part.

EDIT 2: and lets also be aware that folk are awakening to the fact that the people who funded the war are still there, ever present, and screwing with their lives, whilst the folk who spent the money..Nazi's..aren't.

Edited by cashinmattress

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When you alook at what the general population originally was sold - a club, this is no club I;d want to be a junior member of. We've have monetary policy set for the benefit of germany when they were able to take low rates and not blow up their economy, the rest have been damned to inflation, asset bubbles and large loans/bribes which have been spent by governemnts and largely wasted. OK some countries had perpetual general inflation issues that were deeply instilled, more spending beyond means but at least there was a direct electoral route via which a particular population could evetually revolt, but not under central control and centralised monetary policy.

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  • 243 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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