MERKEL HOODWINKS BUNDESTAG!

Merkel rushed back to Berlin following EU summit talks in Brussels in order to hoodwink the MPs before it closed for its summer recess on Friday. Bundespresident Joachim Gauck, Bundestag, Bundesrat, Bundesbank, and Karlsruhe resent squandering German taxpayers' hard-earned money for bankrupt Graecokleptocrats. Especially, Vice-Chancellor Philipp Roesler and Foreign Minister Guido Westerwelle are smart libertarians, and they cannot be hoodwinked by Graecokleptocrats.
Merkel hoodwinked MPs to approve Fourth Reich's fiscal pact on budget discipline, as well as a 500-billion-euro ESM. Bundestag, voted in favor of the two, and Bundesrat gave the green light several hours later. Merkel said: Today Germany, with the approval of the fiscal pact and the ESM by all parties in both houses of parliament, will send an important signal that we are overcoming the European debt crisis in a sustainable way.

Merkel says: It's in my character to be consistent, whether I'm speaking with you, with party colleagues, with the Bundesbank or with my European partners. I am not duplicitous. That is my advantage. We need more not less Europe. If euro fails, Europe fails. The solution of depression lies in binding Europe closer together through strict budget discipline.
German politics, based on consensus and with many inbuilt checks and balances, does not encourage bold action. Merkel must constantly find compromises within her coalition, with parliament, with regional governments and with the constitutional court. All of them are part of the debate. So too is the German central bank, the Bundesbank, over which Merkel has no control.
Germany, the export champion that has seen its productivity continue to go up in recent years thanks to technology, hard-work ethic, low wages, and the euro. On the other hand, you have Greece, the broke country that is constantly losing competitiveness due to huge political corruption, myriad sinecures, kangaroo justice, and the cancer of socialism.
German zeitgeist is leading the way out of the global depression. German economy has shown itself to be astonishingly resilient amid the global economic turmoil. Germany's GDP rose by three percent in 2011. It's been a record-breaking year for the German economy. This year, German companies exported goods worth over one trillion euros, the highest figure ever. The number of people in work has also risen to 42 million, more than ever before.
25 of the EU's 27 member states agreed to the fiscal growth pact. Britain and the Czech Republic did not sign the agreement. Only a handful of parliaments have ratified the pact thus far, including Greece, Latvia, Slovenia, Sweden and Denmark. Paymaster Germany's approval of the measures will serve as a catalyst for quick ratification by other European legislative bodies.
The decision by Cameron to block a Fourth Reich treaty change by using his country's veto power sparked a festive atmosphere among libertarian Europeans. Cameron has applied the very veto that former Prime Minister John Major should have used against the Maastricht Treaty, which created euro. We should just be grateful.
I congratulate Cameron on an undeniably brave decision. There is an exciting sense that we are at the beginning of a very profound change in which our tortured relationship with Fourth Reich will be redefined, at long last. UK has been a downtrodden wife stuck in a bad marriage, constantly threatening to go but never having the nerve. Now she is finally revolting, and it is bound to start a domino chain of secessions.
Ever since Margaret Thatcher famously demanded "I want my money back," Britain has had to contribute less to the EU than the size of its economy would otherwise require. Napoleon Sarko was very rude to Britons, telling Cameron "you missed a good opportunity to keep your mouth shut. We are sick of you criticizing us and telling us what to do. You say you hate the euro and now you want to interfere in our meetings." Some times Sarko avoided an extended hand of Cameron to greet him!
Merkel hides a very important fact from Germans. Germany is never going to get back the money it lends to Greece, because Graecokleptocrats plan to withhold 100 billion euros as reparation for a Second Word War loan! German reparations is a very hot issue in Greece, and everybody can predict the climax of the infamous bailout.
Under the terms of the peace treaty that was signed in 1990, Germany did not have to pay further reparations to other countries for war damages. Greece accepted the treaty, although the issue of compensation was periodically raised by Graecokleptocrats, mostly to score points in politics.
But if the 476 million reichsmarks lent against its will to Germany by the Greek National Bank during the war is not considered damage but a form of a normal credit, then Greece would be entitled to get the money back. Without interest, the amount in today's money would amount to $14 billion. With interest over all these years, the final value exceeds 100 billion euros!
Germans abhor the Nazi dream for Europe - ein Volk, ein Reich, ein Fuehrer. 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.
Merkel declares Fourth Reich lives through its toughest hour since the Second World War. Merkel dislikes putting her foot down to solve government disputes. She associates that form of exercising authority with ill-tempered men who use arrogance to make up for their lack of competence. Merkel thinks people who keep banging their fist on the table end up getting ignored in the long run. Merkel's wings have been clipped, and now she faces even bigger problems ahead. There are rumblings within the FDP and the CSU that could distance the two parties even more from Merkel.
Merkel reinforces her opposition to Eurobonds, declaring that a communistic collectivization of debt would leave the bloc's members worse off. This is communism, pure and simple! Germany, Europe's largest economy, would face extra costs of a hundred billion euros a year through the alignment of interest rates with nations that pay more to borrow. Eurobonds lead us to a debt union, not to a stability union.
Giving eurobonds to PIGS is giving gin to alcoholics! Eurobonds create a transfer union. Eurobonds would benefit profligate PIGS, especially corrupt Greece, whose borrowing costs on the open market have become prohibitively expensive, but they would expose fiscally sound countries like Germany to more risk, increasing the country's low interest rates. Eurobonds would subsidize the dolce vita of PIGS.
Merkel declares Eurobonds would not be introduced as long as she lives! Merkel is finally losing patience with demands from PIGS that eurozone debt be communitized. Iron Angie is not bending to the political breeze and the pressure from PIGS. Merkel's knows that only fundamental reform efforts, concrete steps toward the political union which the original architects of the common currency failed to put in place, can save the euro in the long run. But the Gang of Four - Van Rompuy, Barroso, Juncker, and Draghi, demand drastic action now to save the four PIGS from slaughter.
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Merkel rejects joint eurobonds as absolutely wrong. Restoring stability to the single currency bloc requires a longer-term step-by-step approach. We must move away from a debt union and toward a sustainable stability union. This won't be easy but it is right. In order to bring about common interest rates, you need similar competitiveness levels, similar budget situations. You don't get them by collectivizing debts.
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Merkel points out that if the debt all goes into the one pot, you have difficulty figuring out where it all comes from. Spreading risk through eurozone would place Germany on a slippery slope where in the best case it would be on par with the European average, or, we all get worse together. Instead, a European framework needs to be developed in which a regulating body must have a right to intervene in order to bring fiscal discipline to failing budgets.
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Eurobonds violate the Maastricht Treaty, which stipulates that no country can be held liable for another country in Fourth Reich (EU). Eurobonds would even elevate liability to the level of a principle and force Germany to vouch for the debts of other countries whose fiscal behavior they cannot control. Germans would not tolerate the tax increases and reductions in transfer payments that this would necessitate.
Eurobonds would not be as safe as German government bonds. And since they would stimulate even heavier borrowing, they would have to yield higher rates. In the wake of the current bailout measures, the German government burdens taxpayers with risks worth one trillion euros. Likewise, over the last year, risk premiums for German government bonds have doubled. There simply isn't any more room for maneuver.
Bundesbank president Jens Weidmann used to be one of Merkel's closest advisers. Now, he is one of her staunchest critics over the euro rescue. He is strictly opposed to the European Central Bank's policy of buying up bonds from debt-stricken countries and is winning a growing number of allies for his cause.
Weidmann has criticized decisions related to the ESM Ponzi scheme and other bailouts as inconsistent and highly risky. He has called on politicians in Berlin to change their course, and he has been advocating the Bundesbank's principles regarding stability. All of those things put him at odds with top officials at the European Central Bank (ECB).
Weidmann is strictly opposed to loose ECB measures. He believes they amount to an unacceptable means of financing states through effectively printing money. In fact, he has come to assume the mantle of the last staunch defender of monetary stability.
Germans think a return to the deutschmark would be cheaper than to remain stuck in eurozone. Germans no longer believe that loans granted to the four PIGS will ever be repaid. They worry that Germany is simply on the hook for PIGS. Germans had to give up the deutschmark in order to get other European Union nations to agree to German reunification. Merkel buries the idea of eurobonds. Merkel declares Fourth Reich would not share total debt liability as long as she lives!