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Sunday, January 1, 2012

Europe's Lying Liars & the Sewage they Spew

I had thought I wouldn't write anything this New Years weekend but its been a slower than usual Sunday for me so I thought we'd recap what's been going on in Europe over the past 12-24mths with some headlines that provide a concise chronology of the Eurozone & summarizes the (lack of) credibility and honesty of Europe's leaders:

Greece


2/11/10:   Merkel denies bailout for Greece (The Australian) -- "German leader Angela Merkel tried to calm fevered speculation in financial markets yesterday that Berlin was preparing to lead a bailout of Greece..."

5/2/10:   Greece accepts bailout terms (CBC.com) -- "Greece has reached an agreement with the International Monetary Fund and European Union on spending cuts that will open the door to a financial rescue package"

5/10/11:  Greece denies new bailout talks, pays more to borrow (Reuters) -- "Greece denied a report on Tuesday it was discussing a new 60 billion euros bailout with international lenders"

6/23/11:  Greece granted €120bn EU bailout (Guardian UK) -- "European leaders agreed to launch a fresh bailout of Greece subject to parliamentary passage of an austerity package next week."

Ireland

9/17/10:  Ireland denies need for IMF bailout (EU Business) -- ""There is absolutely no truth to a rumour concerning external assistance," the finance ministry said."

11/16/10:  Irish prime minister denies any application for euro bailout (Guardian UK) -- "(Prime Minister) Cowen told the Dáil that Ireland had "made no application" for financial support from Europe."

11/23/10:  Ireland accepts bailout (AP) -- "Ireland accepted the bailout offer from the EU and IMF, once more increasing the burden on taxpayers in the region. The package, which is still to be finalized is expected to be for about 85 billion euros"

Portugal

11/26/10:  Portugal denies pressure from EU partners to agree bailout (Guardian UK) -- "Portugal insisted today that it was under no pressure from its European Union partners to accept a multimillion euro bailout"

11/26/10: Europe denies there are Portugal bailout plans (AP) -- European Commissioner Jose Manuel Barroso: "I can tell you that it's absolutely false, completely false,"

4/27/11:  EU denies report Portugal bailout terms almost ready (Reuters)

5/4/11:  Portugal accepts bailout from EU and IMF (AP) -- "Portugal has become the 3rd EU member state to accept a bailout after Ireland and Greece... a €78 billion deal has been reached that will run for 3 years."

Italy

8/7/11:  Eurozone Agrees to Huge Spain, Italy Bailouts (Newser.com) -- "Europe's central banking system has agreed to buy huge quantities of Spanish and Italian government bonds in an attempt to stem the debt crisis overwhelming the eurozone... “The Euro system will intervene very significantly,” a source said... it’s expected to dwarf the $115 billion spent on Greek, Irish and Portuguese bonds."

11/4/11:  Defiant Silvio Berlusconi refuses IMF bailout and insists he will not resign despite mounting Italian debt crisis (Daily Mail.co)

11/5/11:  Italy agrees to IMF oversight (NY Times) -- "Acceding to pressure from European leaders, Italy on Friday "invited" the International Monetary Fund to look over its shoulder..."

11/12/11:  Berlusconi steps down (NY Times)

Spain


2/2/11:  Spain Will ‘Never’ Need an EU Bailout, Campa Says (Bloomberg) -- "Spain will never need to tap a European Union bailout fund and will succeed in cutting the euro-region’s third largest budget gap and shoring up its savings banks, Deputy Finance Minister Jose Manuel Campa said."


4/15/11:  Zapatero asks for funds while claiming Spain needs no bailout (AP) -- "Prime Minister José Luis Zapatero visited the Far East pleading for funds. His visit comes just after a similar tour of the Middle East in March."

9/7/11:  Spain Denies Again It Was Close to Needing Bailout (AP) --  "The sustainability of Spanish debt was "beyond all doubt," Economy Minister Elena Salgado said after Spain's 10-year bond yield soared past 7 percent, which many analysts regard as a critical threshold for borrowing costs. 

11/30/11:  IMF denies of any financing talks with Italy, Spain (AP)

~ Ugh..  Just revolting..

They're all Liars-- Disgusting, Soulless Fucking liars. Europe.  America.

Everywhere.

Every nation's President, Prime Minister, Premier and Chancellor.   Every Cabinet member.  Every banker, financier, media outlet and major player in the global finance community..

Every single one.

No one ever admits anything-- they'll never admit they need bailout.. never admit the need for bank holiday or eventual implementation of Marshal Law when the populaces grow weary of accepting status-quo.  

They don't want to worry or unnerve the precious Investor.  They don't want the populaces to truly understand how bad things are..  'Just move along folks.. nothing to see here.. keep shopping.'

I hope this posting provided some clarity on the situation as we enter 2012 because No Other media source, especially mainstream news takes the time to break down the chronology of Lies as does 'Ants & Grasshoppers'

2012:  The year of the Wake-Up