Tag Archives: Angela Merkel

John Ward – Breaking : German Supreme Court Rules Against Merkel On ESM. Will She Now Recognise The Rule Of Law? – 19 June 2012

Karlsruhe Judges…fancy dress, or citizen protection with teeth?

The Karlsruhe judges today found that the center-right coalition government led by Chancellor Angela Merkel had breached the rights of the German parliament by failing to sufficiently inform lawmakers during negotiations towards the creation of the permanent euro rescue fund, the European Stability Mechanism (ESM).

This decision is “a further important building block in a series of decisions by the Constitutional Court that strengthen parliamentary responsibility in the context of European integration,” the president of the court, Andreas Vosskuhle, said.

But is it? If – like the case for a Weimar ruling against Nazi violence in 1931* – it is simply ignored, then what good is Karslruhe?

The decision follows another that the court handed down in February, in which it struck down a plan to create a committee of just nine members of the Bundestag to decide in secret about emergency measures regarding the euro. Then too, the court argued that the entire assembly must be involved in such decisions.

But it did not declare an ESM unconstituional in Bundeslaw…even though it obviously is, because of the anti-fiat money printing clauses in the BundesRepublik constitution.

Ironically, the court heard the case based on a complaint brought by the opposition Green party. No members of the anti-Warmist Right were to be seen anywhere in all this. Equally ironic is Wolfgang Schäuble’s obsessive fixation with a hyperinflation that occurred under entirely different circumstances ninety years ago.

However, far more significant than any irony is the reality that the Bundestag and the upper house, the Bundesrat, are expected to approve the creation of the ESM when they vote on the issue on June 29.

The educated sector of German life needs to get on top of this…unless Germans want to change their nation’s name to ‘DDR’.

* In 1931, the German Jewish lawyer Hans Litten became the only ordinary German citizen ever to bring Adolf Hitler into Court and interrogate the future Fuhrer. Litten’s demolition of Hitler’s argument that the Nazis were a peaceful, democratic movement earned the lawyer years of brutal persecution.  His obviously valid case against the Nazis was undermined throughout the trial by a frightened Judge. He died in a concentration camp in 1939.

http://www.hat4uk.wordpress.com Link to orignal article

Mish/ Mike Shedlock – Greek Rail Against “Crude” German Editorial; Merkel Ally Tells Greece “Vote Right Or Euro’s Gone”; Initial Estimate 2:3 ET Sunday – 16 June 2012

In the past week, as I expected, the ECB, Troika, German officials and others have all warned Greeks to not vote for Alexis Tsipras and his radical-left party Syriza. Will those tactics backfire?

I suggest they already have. The pertinent question is whether they have backfired enough to matter. Continue reading

Mish/ Mike Shedlock – German Vote On ESM Fails; Still Not Ratified By Germany, Austria, Belgium, Estonia, Slovakia, Netherlands; Political Football Over Financial Transaction Tax – 14 June 2012

The Wall Street Journal reports European Economics Commissioner Olli Rehn expressed concern Monday that Germany, Austria, Belgium, Estonia, Slovakia, and the Netherlands were dragging their feet in ratifying the ESM.

In the meantime, the Journal reports Spain May Tap EFSF.

The article states “Power broker Germany has yet to complete the process but is expected to do so soon.” Continue reading

John Ward – Euroblown : Merkel The Merciful Offers Athens A Clear Choice… – 9 June 2012

The Angela of Death

…stay in the eurozone and die, or leave the eurozone and be poor.

I wonder if ‘choice’ is perhaps the most twisted reinvention of a word in the history of language. Jeremy *unt is a great choice driveller: choice of 56 Murdoch Channels all showing braindead soft-porn sh*te. Lansley is another one: choice in the health services available to all. Bollocks: the choice is between having money and getting some service, or the opposite of that. Continue reading

Mish/ Mike Shedlock – Key Words Of The Day : “Nothing”,”Fiscal Cliff”,”Later”; Bernanke Speech Template; US Fiscal Cliff And What To Do About It – 8 June 2012

Everyone is pouring over the latest statements by Fed chairman Ben Bernanke and German chancellor Angela Merkel. But what did they really say?

The short answer is “nothing”.

For example, Bloomberg reports Merkel Says Germany Ready to Back Use of Current Euro Tools.   Continue reading

John Ward – Euroblown : As Spanish Rules Suddenly Apply, The Transfer Of Sovereignty Continues – 7 June 2012

Merkel’s mad desperation is more obvious by the day

As more and more of what’s left of European Sovereignty moves towards Berlin-am-Brussels, it’s increasingly clear that the rules are being made up as we go along.

Thus the word from Berlin this afternoon is that a deal is under the table allowing Spain to recapitalise its stricken banks with aid from its European partners – but avoid the embarrassment of having to adopt new economic reforms imposed from the outside, German officials say. Continue reading

Mish/ Mike Shedlock – Merkel Bends, Equity Markets And Precious Metals Cheer, Bond Market Yawns; Lending To Peter So Peter Can Lend To Paul – 6 June 2012

German Chancellor Angela Merkel has worked out a deal with Spain to rescue its banks. Global equity markets and commodities, especially gold and silver, have cheered the news.

However, the bond market has let out a big yawn. The yield on Spanish 10-year treasuries dropped less than 3 basis points to 6.281%, hardly a sustainable rate. Continue reading

Mish/ Mike Shedlock – Another Meaningless Nannycrat Rumor : Europe Mulls “Secret Plan For New Europe” – 4 June 2012

A story is making the rounds that suggests leaders are going to get together and hammer out a “fiscal union”.

The story appears to have originated on the Welt Online, a German tabloid. The article mentions a Secret Plan for a New Europe. Continue reading

Mish/ Mike Shedlock – German Finance Minister Pressures Spain To Accept Bailout;Germany Says €50 Billion To €90 Billion Needed; More Doublespeak – 3 June 2012

Germany and Spain are both digging in their heels. Courtesy of el Economista and Google Translate, please consider Germany pressed for Spain to resort to bailout fund.

German Finance Minister, Wolfgang Schäuble, have pressured the Spanish owner of Economy, Luis de Guindos, for Spain to resort to European rescue fund, fearing that fails to stay afloat on its own. Continue reading

Mish/ Mike Shedlock – Spain’s Prime Minister Begs For European Fiscal Nannyzone And Banking Union; Obama Seeks End To “Crisis Cloud”; Merkel Immediately Rejects Proposal; Cloud? What Cloud? – 2 June 2012

On Saturday, Spain’s prime minister Mariano Rajoy Asked For a Eurozone Fiscal Authority, in effect the “Fiscal Nannyzone” that I have spoken about on numerous occasions.

Spain on Saturday proposed the set up a new fiscal authority in the euro zone which would control and harmonize national budgets and manage the European debts. Continue reading