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German parliament backs enhanced bailout fund
09-29-2011, 01:27 PM #1
Octo Mother Superior
Posts:41,220 Threads:1,576 Joined:Feb 2011
BERLIN (Reuters) - Germany's parliament approved new powers for the euro zone's crisis fund on Thursday with a large majority.

In the vote, that was the biggest test of Chancellor Angela Merkel's leadership since she took power six years ago, 523 lawmakers backed more powers for the fund, 85 voted against it and 3 abstained.


Yay, the economy is saved and we can all go back to watching and buying shiny things now coffeetime.gif
09-29-2011, 01:30 PM #2
Kreeper Griobhtha
Posts:11,034 Threads:764 Joined:Feb 2011

Waiting for the apocalypse...


What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice
09-29-2011, 01:33 PM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,202 Threads:1,487 Joined:Feb 2011

A German judge ruled the parlement can not make that decision without a referendum. vic.gif This is going to get really interesting.


09-29-2011, 01:50 PM #4
bohica Member
Posts:1,554 Threads:207 Joined:Feb 2011
The only shiny things I'm buying lately are pre-64 silver dimes, especially since last week's spike down.
( unless you want to say that brass is shiny)

I'm in my seventh decade on Earth. I know things.
09-29-2011, 01:52 PM #5
Shadow Incognito Anonymous
09-29-2011, 02:37 PM #6
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,202 Threads:1,487 Joined:Feb 2011
Thanks Shadow! hug.gif

But damned.gif If French banks are, at this point essentially insolvent this leaves the vast majority of the next round of bailout squarely on the shoulders of German economy, and guess what? Germany's economy if now officially dwindling.
They are in line to be downgraded. The EU is toast. coffeetime.gif


09-29-2011, 03:00 PM #7
Octo Mother Superior
Posts:41,220 Threads:1,576 Joined:Feb 2011
Great comment from http://www.thelocal.de/national/20110929-37905.html

Quote:More debt to solve the debt problem. This can only end well.

09-29-2011, 03:14 PM #8
Shadow Incognito Anonymous
Welcome JR hug.gif

There's been a quiet corporate run on European banks since about July. Could explain why they're so undercapitalized or part of anyways. Geithner got bitch-slapped by Merkel yesterday too...here it is
And yes Germany will lose AAA status if they go ahead with this bailout which germans will not like because not only will they be on the hook for it, their interest rates will go up making everything more expensive. The whole ponzi scam is slowly collapsing and when it goes, it'll happen in a heart beat.



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