EU To Grant Spain And France Reprieve!!!

image

This is getting to be as predictable as it is impotent.  This is like watching Obama threaten Iran over nuclear development.  Sure, the rhetoric is there.  Sometimes the talk is tough.  No one believes they’ll ever do anything about it. 

EU to give Spain, France more time to cut deficit: press

MADRID (Reuters) – The European Commission will propose giving Spain, France and several other euro zone states more time to cut their public deficits below the target limit of 3 percent of GDP, newspaper El Pais said on Saturday.

Citing senior sources at the European Commission and in the Spanish government, the leading Spanish daily said France would likely get an extra year until 2014 rather than 2013 to rein in its fiscal gap.

Spain would likely be given until 2015 or 2016 rather than 2014.

Right.  But, what were they going to do when France, Spain, and all the others didn’t meet their targets?  Nothing.  If they kicked them out of the Euro zone, then there wouldn’t be a Euro zone, at least not one we’re familiar with.  There would only be a handful of nations who qualified to stay.  The value of the Euro would shoot up and those nations remaining  wouldn’t be able to sell anything to the debt ridden nations.  They might as well target zero percent of GDP, it would be just as realistic.  And, they may as well threaten military intervention, it would be just as realistic.  The targets have become not a rule, but guidelines which nations simply ignore. 

And why wouldn’t they?  If they ignore it well enough and long enough, they’ll get free money from the ECB and the IMF.  If they’re lucky, they get some bond write-offs so they can issue more debt!  The cleptocrats of the EU would never remove people from under their authority, so there is no ultimate threat. 

In a couple of years, there will be nothing but printing and absolving of debt. 

About these ads
This entry was posted in Economics. Bookmark the permalink.

16 Responses to EU To Grant Spain And France Reprieve!!!

  1. Latitude says:

    .is there any way I can get these guys to do my accounting?

  2. DirkH says:

    ” If they’re lucky, they get some bond write-offs so they can issue more debt! The cleptocrats of the EU ”

    I guess you’re right; whether it’s warmism or this current crisis of graft and corruption, it’s always used as a pretense for more looting.

    There are campaign posters around here, Lower Saxony elects a new government. I’m slightly tempted to vote just to prevent a socialist government, but on the other hand… just saw a poster from a group calling themselves “Free Voters” saying, stop giving our money to other EU countries, we need it ourselves …
    …to help our own businesses…

    Wait… I thought I’m helping our businesses by BUYING THEIR PRODUCTS? Nevermind…

    Even the people who not openly call themselves socialists here are sounding like Keynesians and collectivists, I think it would be a waste of my time to care about any of these idiots. There are no free marketers here in Germany.

    • DirkH says:

      And “The Left” (successors of the SED, later PDS, now Die Linke – communists – are running a campaign “Give gifts to children, not to speculators” “Save hospitals, not speculators” – I’m a little pissed. Am I not human? This way the communists will never get a speculator like me to vote for them.

    • suyts says:

      I feel sorry for you, Dirk. Europe seem overrun with communists, socialists, Keynesians and collectivists. It’s bad here in the States, but not as bad as Europe. And, no, people like you don’t count. They rarely regard people like us as human.

      • DirkH says:

        I’m having fun, suyts. All these mad little people are actually pretty helpless.

      • suyts says:

        Is probably why I’m a bit anti-social. I can only dwell with the inane for certain periods of time. I was in a conversation with a couple of fellows in a tavern the other day. They were both older than myself and native to this area. They were lamenting an imaginary loss of trees in this area. I pointed out that nearly all of the trees in this area are not indigenous to this area. They absolutely refused t believe this. As proof of the loss of trees, they pointed to the bulldozing of many hedge rows. I pointed out that the rows were planted. They think the hedges grow in a uniform line, or something. I had to leave, their stupid was attacking my sensibilities.

        • kim2ooo says:

          That’s scary!

          It’s like EPA declaring lawns as “indigenous grasslands”

        • suyts says:

          Yes, and the imbeciles would latch onto that thought, hook, line and sinker.

        • miked1947 says:

          Indigenous Hedgerows! Are they also complaining about the loss of all the trees along driveways and those planted along roads as fence lines?

        • DirkH says:

          Usually I just enjoy my malthusian biologist friends when they bring up their “nature is being progressively destroyed” meme (which is not backed by facts in my area. We’ve been busy cutting down whatever grows for a thousand years; that was necessary to actually turn this area from swampland to city… Doubtlessly a terrible tragedy for my city-dwelling biologist friends.).

          What I see behind their meme is
          a) their own demise that they project onto nature. (What I mean is aging and all that it brings with it)
          b) seeking attention by bringing up a theme they think they know something about. (The ever-recurring references to Monsanto are a giveaway. Monsanto is the modern day Sauron in this mythology)

          One can analyse the class warfare meme of the local communists along the same lines. They demonize the mythical speculator without realizing that speculators have no horns, most of the time wear no suit, and WALK AMONGST THEM. Maybe they haven’t noticed that everyone can trade over the Internet? I find that endlessly amusing.

  3. leftinbrooklyn says:

    Has there ever really been an ‘EU’? Or just reactions to war, and the endless attempts of the non-producers to take from the producers. EU, UN, League of Nations. These exist in name only. Have they ever been valid entities? Validity requires results.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s