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on the so-called ‘stability and growth pact’

“ "The view was that, ok, if the big boys won't adhere and impose discipline on themselves, they're going to be more relaxed in enforcing the treaty [on us]," recalls the former Deputy Finance Minister for Greece, Peter Doukas.

“ "I mean, no-one can impose sanctions on Germany and France. They are the European superpowers. So they won't adhere." ”

Here is part of what I wrote 14 years ago:

“My major concerns are

    1. the social damage inflicted by inflation, which I regard as an unmitigated evil perpetrated by corrupt government, and
    2. the potential for contention between nations if this nonsense is forced through against the wishes of the citizens of the various nation states. Very few are covering that issue adequately, but the early part of Redwood's book, Owen's article and, particularly succinct, Friedman's article are germane - see below. William Hague [1] has recently drawn some attention to this matter in a speech.

Both issues have considerable civil liberty implications.”

I have also constantly warned that the structure was designed such that it would encourage competitive increases in borrowings.

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are milipede and balls running occupy banking protest?

“We could run RBS nationalised bank for nothing.”

Marker at abelard.org

“Following criticism of the way in which the camp’s financial affairs have been run, the finance group quit en masse. That included the person who has the key for the safe — with the result that no one could access the money. Coupled with the fact that donations are now lagging behind expenditure, there has been a serious shortage of money to pay for things such as food and power. Protester Leo Ashford, 20, …told reporters that despite generous donations by supporters, money had been squandered. ‘We’re protesting against bankers, and no one on our finance team knows how to use a ledger or a receipt,’ he said.‘In the second week we had public opinion on our side and enough donations to sustain ourselves. We all could have had brand-new tents and blow-up mattresses. Now no one knows where the money has gone. ‘I’m sad, but I knew a month ago that it would get to the point where we would collapse in on ourselves on essentially our own stupidity.’ ”

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eussr fake canute postures

4:45 mins

Meanwhile, Germany seeks the policy that turned the 1930s crash into an international disaster - deflationary monetary policy.

“The European Central Bank can do much more than it has done: it has bought European debt equal to just 2pc of GDP while the Bank of England has done 20pc," he said.

“Plans for the IMF to help shore up Europe by boosting its own reserves to $1 trillion (£643bn) have already run into trouble. Sherpas preparing the next G20 meeting said Japan, China, Korea, and Brazil have misgivings, while America has openly refused to participate. All are reluctant to put up money until Germany stops invoking ideology and allows the eurozone to mobilise its own vast resources.”

All the while, politicians across the EUSSR try to get someone else to act in order that they can blame someone else for the mess, while keeping their own heads below the parapet.

related material
EMU (European Monetary Union) and inflation – a civil liberty issue

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we’ll never get back in again unless we return to the bliar policy of lying about our intentions

From the ever new fascist New Labour Party:

We have explained to the unions who own us, that there is no mileage in telling the truth about socialism.

We all know the party is owned by the unions, but we mush shut up about it and pretend again that we’re Tories. It’s simply the only way we can get back to the programme of ruining the country, and running it just for our own interests.

As usual, we must all shut up and pretend.

Party discipline is paramount, there is no other way of fooling those idiots daft enough to vote for us.

“Len McCluskey's article on these pages yesterday reminded me of the "culture of betrayal" that I thought the Labour movement had escaped. According to Len, by trying to position Labour as a credible alternative to the coalition, Ed Miliband has set it on a path to "destruction".

“Stuck in a familiar groove, Len goes on to suggest that all the ills he claims are befalling Labour are because of the actions of so-called "Blairites" – those terrible people who introduced the minimum wage and increased the number, the stature and indeed the pay of public sector workers across the country.

“What Miliband and shadow chancellor Ed Balls have done this week is offer the public an opportunity to make a real choice in politics. Losing an election is tough for a political party. There is the election of the new leader to go through, the slow process of shrugging off what the public didn't like about you, and the even slower process of building ideas and narratives around what they might like about you in the future. What has been evident to Miliband and others is that Labour simply cannot win an election in 2015 if it positions itself as the "anti-cuts" party. It's easy to oppose every cut from the comfort of the opposition benches, but the public will not find that position credible, particularly as we've been clear about the need to tackle the deficit.”

It will also be useful if we can get a few of our lower cadres and union functionaries to go around shouting that Labour has lost its way and this is not the true Labour Party.

This will add credibility to the claim that this is not the usual socialist ‘New’ Labour Party. Mondeo Man is bound to fall for that one again.

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the scorpions gathering around the iranian loons

Someone has a sense of humour:

“ "I don't want to leave anybody with the impression that we're somehow (speeding) two carriers over there because we're concerned about what happened, you know, today in Iran. It's just not the case," said Captain John Kirby, a Pentagon spokesman.”

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how government is destroying wealth in europe

And Hungary’s just one example.

“I could hire 12 people with 760 euros net salary, but I don't. I tell you why. You could work for my service provider company in a nice office. It's not telemarketing, it's not a scam. You would do serious work that requires high skills, 8 hours daily, only weekdays. I would employ you legally, I would pay your taxes and social security. I could give such a job to a dozen people, but I will not, and here I explain why...”

“Don't get me wrong, I don't have any problem with women giving birth to children. That's how I was born and that's how my child was born. I wouldn't hire a woman because when she gets pregnant, she goes for 3 years maternity leave, during which I can't fire her. If she wants two children, the vacation is 6 years long.”

France, Germany and Italy (among others) are also in the 50% losses level. It is bad in the UK. Working to get sacked is common.

And this is not confined to Europe. This is the situation with government in general.

The blogger misses the fact that much of the larger contracts are in the gift of government (civil servants) and that various forms of bribery are widespread.

Try his letter of apology.

I like this :

“There was only one party, the socialist. The MSZMP. The Hungarian Socialist Workers' Party...”

Reminiscent of the National Socialist German Workers Party.

[Lead from DVH.]

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50€ billion here, 50€ billion there, and soon you are talking real money

The Euro area is in chaos, but the band must play on and the flags wave, and there is cake and there is circuses!

“Make me chaste, but not yet.” - Augustine

“The rescue, worth 130bn euros (£107bn), would include a voluntary restructuring of Greek debt - meaning bondholders would have to write off 50% of the Greek bonds' value.”

Special cases!

“Mrs Merkel called Greece "a special case" but insisted that "no country should be excluded from the eurozone" ”

Bring back the rack.

“Chancellor Merkel insists on tougher penalties for countries that violate eurozone budget rules.”

I’ve got an election looming.

“Referring to the pact, Mr Sarkozy said "we want the negotiations to finish in the coming days, so that the treaty is signed on 1 March". ”

“We ignored them last time”, says Sarkozy.

“The compact will include automatic sanctions for budget rule-breakers - sanctions that can only be blocked if a majority of powerful eurozone members object.”

But just in case...

“A new 500bn-euro EU bailout fund - the European Stability Mechanism (ESM) - is to be launched in July, a year earlier than originally planned.

“The existing temporary fund - the 440bn-euro European Financial Stability Facility (EFSF) - is considered too weak to rescue a major eurozone economy such as Italy or Spain.”

It’s not my fault, he says.

“He holds the banks largely responsible for the debt crisis and sees the financial transaction tax as a fair measure to ease the burden on taxpayers - a message that may appeal to voters.”

related material
EMU (European Monetary Union) and inflation – a civil liberty issue

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