KARLSRUHE COULD GIVE THE COUP DE GRACE FOR OCTOBER-18 MAFIA

Fuehrer Merkozy knows that only stupid investors would squander their money in a country addicted to kleptocracy, socialism, charge stacking, and marilizardism. IMF opposes Fourthreichian plans to force October-18 Mafia to put up collateral in its second rescue. The use of collateral, a concession to win Finland's backing for 109 billion euros of loans pledged by euro leaders in July, would ridicule all other lenders!  http://venitism.blogspot.com


IMF objections threaten to derail Europe's crisis-management effort after aid of 256 billion euros for PIGS failed to restore order. Europe also faces hurdles in trying to widen the powers of its rescue fund, with German MPs demanding a veto over its operations. The European project has lost significance among Germany's policy elite as the central driver of foreign economic policy.
No clear grand strategy has replaced this Einbindungspolitik, German foreign policy tenet of engagement. Given the heavily-fragmented nature of checks and balances in German politics, the political elite seems to be buffeted by a cycling of priorities from regional elections to Chancellory infighting. The end result has been a series of policy reversals and costly delay.  http://venitism.blogspot.com
The German Constitutional Court in Karlsruhe held its first hearing on July 5, 2011 in a case against interventions such as the bailout packages to PIGS.  A ruling in the case is expected on September 7. A group of German euroskeptic eggheads led by Joachim Starbatty filed the case last year. The group argues that creating rescue funds violates the European Union's no-bailout clause, which says neither the EU nor member states should take on governments' liabilities.
Finance Minister Wolfgang Schaeuble says you can go ahead, if you do it on a voluntary basis. That may be true as long as he uses his own money. It's not Schaeuble's money to give!  Schaeuble is using taxpayers' money, so he has to ask them whether he can be so generous with their money.
That is something Schaeuble should consider - after all, first and foremost, his main obligation is to the German taxpayer. Karlsruhe will probably set clear conditions for any new package.  The bailout packages for the peripheral countries, such as Greece, contradict the spirit of the Maastricht treaty.
October-18 Mafia asserts Karlsruhe won't decide on anything that would stop the bailout mechanism, because the court would not risk bringing down the European monetary union. 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.
If Karlsruhe were to say that everything that is being done now is unconstitutional, Greece would have to leave the currency union, and there would be a debt rescheduling. There's no escaping that. What Germans are doing now isn't solving any problems. Continuing to give Greece money so it can pay its creditors, only means pushing Greece further into the debt trap. It's a bailout for the banks, but without saving the European currency system.
Eurozone's troubles are going to get worse until October-18 Mafia goes belly up. We're in this vicious circle which will have systemic effects in the eurozone. 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
October-18 Mafia's predicament deepened today with the forecast of a worsening economic contraction and a suspension of the Troika  mission. Two-year Greek yields rose today to 48%. There is only one solution to the dilemma faced by the Greek government over its inability to borrow more money. Shut it down!  
Debt ceiling or no debt ceiling, deficit or no deficit, all of stupid ministries, agencies, boards, commissions, authorities, bureaus, divisions, services, administrations, and programs should be shut down.  This is not complicated!
Collateral was one element of the second Greek package set up on July 21. Also at that summit, euro leaders agreed to give the main rescue fund, the 440 billion-euro European Financial Stability Facility (EFSF), the power to offer precautionary credit lines, recapitalize banks and buy bonds in the secondary market.
Europe's relations with the IMF, contributor of a third of the bailout money so far, have worsened as the crisis drags on. Trans-Atlantic miscommunication complicated October-18 Mafia's payout in July, and officials from emerging economies such as Brazil have questioned the fund's exposure to Europe.
Prudent Finland is at center stage with its pursuit of collateral, the product of a June coalition accord by new Prime Minister Jyrki Katainen after an election marked by an antibailout backlash.  The best thing that could ever happen to Greeks would be the majority of the functions of the Greek government were shut down permanently.
Jefferson said the two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.  http://venitism.blogspot.com
But the Greek government has already become a legal criminal institution and the #1 enemy of the Greek people!  Unfortunately, Jefferson's advice has come too late to the Cradle of Kleptocracy.  That's why Greece now needs a real revolution to overthrow the corrupt status quo. 
If the army is not willing to do it, Greeks themselves have to start acquiring guns for the great moment of liberty, climaxed by the public hanging of all Graecokleptocrats in front of the Grand Brothel on Syntagma Square.
Finland shrugs off pressure to back away, with Finance Minister Jutta Urpilainen obtaining support for the collateral bid from a parliamentary oversight committee. Austria, the Netherlands, Slovakia and Slovenia plan to piggyback on any arrangement negotiated by Finland. Nobody trusts October-18 Mafia.
In the IMF's view, stringent conditions such as spending cuts and elimination of political corruption and marilizardism are a better way than collateral of keeping Greece in line. Collateral would also run afoul of so-called negative pledge clauses in Greek bonds that bar the Greek government from issuing more senior claims.
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.  http://venitism.blogspot.com