Eurokleptocracy, gigaregulation, Antitrust Armageddon, and gigataxation, especially VAT, are the real causes of the European financial meltdown. Fourth Reich(EU), an unvoted illegal confederation, cannot protect Europeans from Eurokleptocrats, especially Graecokleptocrats, and police brutes, especially Graecocybercops. Fuehrer Merkozy condones the disgusting Graecokleptocrats who accuse dissident bloggers of treason, confiscate their computers, and lock them is jail! http://venitism.blogspot.com
Fuehrer Merkozy knows that only stupid investors would squander their money in a country addicted to kleptocracy, socialism, charge stacking, and marilizardism. Olli Rehn points out stress in financial markets increased over the summer, leading to substantial volatility and occasional turbulence.
This was mainly due to the US political discord on its debt ceiling and the EU sovereign debt problems, as well as more general concerns about an economic slowdown. At the same time, funding pressures in the EU banking sector have risen. The bailout for the Cradle of Kleptocracy is taxpayers' hard-earned money blown out with the wind, because the October-18 Mafia continues corruption, squander, marilizardism, incivility, stupidity, charge stacking, and junketing. http://venitism.blogspot.com
Marilizardism is the death cross of Greek treasury bonds. Rehn notes what we seem to be currently going through is a more parallel performance of financial markets and the real economy. There is no way any prudent investor will throw a euro in the Cradle of Kleptocracy, which is infested with marilizardism, the October-18 Mafia, charge stacking, and the cancer of socialism.
Rehn's reading of the evolution in this regard is that the financial markets and the real economy move now more in synchrony, which makes me seriously concerned about continued financial turbulence spilling over to and potentially harming the recovery of the real economy. This underlines the importance of containing the market turbulence to secure the economic recovery.
The impunity of the 300 Graecokleptocrats of the Grand Brothel on Syntagma Square is the most freakish thing on Earth. Even though Graecokleptocrats looted many billion euros in kickbacks and churning, not a single Graecokleptocrat has ever gone to jail! They are protected by the parliamentary immunity, and nobody can touch them, no matter what. Moreover, they have the nerve to jail dissident bloggers. It's a long way from the 300 Spartans of Leonidas! Allons enfants de la Grece! http://venitism.blogspot.com
Rehn asserts the deterioration of the growth outlook is a consequence of a combination of various factors, such as higher oil prices in the first half of the year, and more recently, a less supportive external environment and – yes – the impact of the financial market turmoil. All in all, the short-term growth prospects have somewhat worsened compared to our spring forecast. We are now working on our interim forecast and will release it on 15 September.
Atlas shrugged in the Cradle of Kleptocracy. It's impossible for Greeks to produce when Graecokleptocrats loot them with heavy taxes, especially the 23% VAT, demand kickbacks, confiscate computers and personal files, impose stupid laws and regulations, harass dissident bloggers, condone cybercop brutality, and spread the cancer of socialism.
Rehn points out structural reforms must be an integral part of our comprehensive crisis response. Several member states have taken significant decisions, especially as to fiscal reforms, but more effective structural measures with substantial impact on enhancing sustainable growth are urgently needed. Given the need to continue fiscal consolidation, reforms with no or little negative implications for the budget should be prioritised.
Marilizardism has created a liquidity black hole for all Greek investments. Rehn asserts that to safeguard the conditions of sustained recovery, it is essential to complete the ongoing financial repair. EU banks are significantly better capitalised now than they were one year ago. This has been confirmed by the stress tests in July. In the run-up of the tests, European banks increased their capital by some € 50 billion.
Those banks whose capital positions were found to be too weak by the stress tests were required to take appropriate action within 6 to 9 months. Private sector solutions – rights issues, sale of assets, mergers etc. – are preferred. However, public-sector intervention is required, if such private sector solutions were unavailable. This process is now moving forward.
Despite these measures to reinforce capital, EU banks have experienced difficulties in their access to funding in recent weeks. As the necessary recapitalisation of EU banks proceeds, we expect their funding conditions to improve. And of course, the banks have access to the provision of liquidity by the central banks, as noted over the weekend.
Graecokleptocrats love the Greek debt crisis, because it takes the attention of Greeks away from the myriad scandals of the Greek government, such as the Siemens scandal, the huge kickbacks for purchasing defect military equipment, defect trains who do not fit the rails, churning the retirement funds of poor workers to generate commissions and kickbacks, airplanes that cannot keep balance, submarines that bend, swaps of prime state land with questionable monastery land, and so it goes.
Rehn points out on July 21st the Heads of State or Government of the euro area took a number of important decisions that will help safeguard financial stability and resolve the debt crisis. They agreed on a new EU/IMF program for Greece, which ensures the financing of the Greek state in the medium-to-long-term. Unlike earlier, private sector creditors contribute to the solution through voluntary debt roll-overs and buy-backs.
The Fourth Reich bailout of the Cradle of Kleptocracy cannot succeed, because the October-18 Mafia continues corruption, Kangaroo Justice, marilizardism, Marilizard Libel, Marilizard Spaghetti, and Marilizard Towers. October-18 Mafia is the most disgusting predator of internet on Earth! Civil society was shocked by the brutality and stupidity of October-18 fiasco, initiated by the Ministry of Foreign Affairs of the government of Greece. That's why October-18 Mafia is the new name of the government of Greece! http://venitism.blogspot.com
Governments of many repressed countries, such as Greece, use marilizardist tools to manipulate netizens. Marilizard Libel is accusing dissident bloggers of treason, Marilizard Spaghetti is hurling charges against innocent people, Marilizard Tower is a stack of imaginary charges to scare a blogger, and marilizardism is terrorizing dissident bloggers. October 18 is the international day against marilizardism, and October-18 Mafia is the marilizardist government of Greece.
The euro-area leaders also agreed on a set of new stabilisation tools by increasing the flexibility and effectiveness of the EFSF and of the ESM. These enhancements to the EFSF and ESM constitute a clear change of approach and will allow acting earlier and more efficiently to ensure financial stability. We have called on the euro-area member states to accelerate the approval procedures for the implementation of these decisions, so as to make the EFSF enhancements operational very soon.
The freakish October-18 mafia robs computers and terrorizes the blogosphere with charge stacking! Why on Earth Fuehrer Merkozy, Durao Barroso, Neelie Kroes, Viviane Reding, and Cecilia Malmstroem of the European Commission cannot rein in Graecokleptocrats? If Fourth Reich cannot protect Greeks from October-18 mafiosi, who will? Greek dissident bloggers want back their stolen computers, their stolen files, their stolen personal data, and their stolen lives. Restitution is a basic right in a civil society. Brutal Graecocybercops should be abolished now. http://venitism.blogspot.com
Global Tax Revolt points out the marilizardist persecution of dissident bloggers is unquestionably a serious attack on freedom of speech, and contrary to Article 2 of Lisbon Treaty, Article 10 of the European Convention of Human Rights, and Article 19 of the International Covenant on Civil and Political Rights. The disgusting October-18 Mafia cannot bully the blogosphere without repercussions and blowbacks. The international civil society got a shock and awe from the brutality of the freakish October-18 Mafia on October 18, 2010. http://venitism.blogspot.com
Rehn asserts that in the continuing search for new ideas on economic governance, we should not forget what we have already achieved, notably the European Semester and the Euro Plus Pact, the reforms of financial regulation and new architecture of financial supervision, as well as the new financial backstops (EFSM, EFSF, ESM).
Banks cannot participate voluntarily in illegal acts, such as fiduciary imprudency. Bank directors are committed to bank's welfare, and not the public interest. If bankers waive outstanding debts at the expense of the bank, this is a breach of trust and punishable by law. All those bankers, that IIF claims plan to participate in rollovers, might go to jail for violating the fiduciary duty of prudency! October-18 Mafia pressures the banks to participate, but it really opens Pandora's box.
Rehn asserts the adoption of the legislative package on EU governance will be a crucial step forward in strengthening fiscal surveillance and formalising the surveillance of macro-economic imbalances. An urgent approval of the package is key in allowing us to make significant progress in economic governance.
Global Tax Revolt was the first organization that reported the October-18 2010 fiasco to all banks, hedge funds, big investors, traders, and analysts. As a result, the yields of Greek treasury bonds skyrocketted, as no prudent investor was willing to touch them. Marilizard's stupidity cost October-18 Mafia many billions of euros! The only thing October-18 Mafia got out of this fiasco is toilet paper in the form of worthless Greek treasury bonds! CCU jail needs toilet paper anyhow!
Rehn notes there is no reason for complacency, as recent market developments have demonstrated. The July summit invited the President of the European Council, in close consultation with the Presidents of the Commission and of the Eurogroup, to make concrete proposals by October on how to improve working methods and enhance crisis management in the euro area.
Fourthreichian monetary unification is the Trojan horse for overall harmonization of economic rules, policies, and laws in Fourth Reich. Any eurozone problem is interpreted as a consequence of the lack of harmonization and leads to another wave of a creeping harmonization. Fuehrer Merkozy frequently declares that coordinating tax policies and labor laws is not just about currency issues but also about political cooperation, which has to be deepened. In other words, more enslavement to Brussels, transforming the confederation to a federation!
Don't be fooled by any bounce of the marilizardist dead cat. Rehn asserts that we should, in particular, find ways to provide more institutional clarity in the euro-area. Especially, we need to reflect on how to improve the division of labour and respective responsibilities of the euro-area meetings in the composition of Heads of State or Government and of Finance Ministers, and how to improve the working methods of the Eurogroup, including also its support structures and communication practices.
Never catch a falling marilizardist knife. Rehn points out there are currently rather high expectations on how eurobonds could help solve the debt crisis by pooling the debt issuance of euro-area member states. However, it is clear that eurobonds, in whatever form they were to be introduced, would have to be accompanied by a substantially reinforced fiscal surveillance and policy coordination as an essential counterpart, so as to avoid moral hazard and ensure sustainable public finances. This would have unavoidable implications for fiscal sovereignty, which calls for a substantive debate in euro area member states to see if they would be ready to accept it. http://venitism.blogspot.com
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