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European Union: As a reward for all your failures, we are granting you a two year extension on the deficit reduction deadline previously written in stone.
Greece: Whateverrrrrrrr, Dad! Can we have the car tonight?
Europe Gives Greece 2 More Years to Reach Deficit Targets
http://www.bloomberg.com/news/2012-11-12/europe-gives-greece-2-more-years-to-reach-deficit-debt-targets.html
Godzilla the Greek
Greece's 'Monster' Debt Problem Haunts Europe
http://www.cnbc.com/id/49785885
Quick! Someone put this magic hat over the Greek debt rat hole, and don't move it until I get back to you on Friday!
Greek Parliament OKs Austerity Budget
http://www.npr.org/blogs/thetwo-way/2012/11/11/164921619/greek-parliament-oks-austerity-budget
GLOOM, DOOM, BUST REPORT(AND THIS IS THE "GOOD" NEWS - YOU DON'T WANT TO SEE THE BAD)
Europe Foresees Weak Recovery Next Year
http://www.nytimes.com/2012/11/08/business/global/europe-foresees-weak-recovery-next-year.html?_r=0
"First you say you do, and then you don't; then you say you will, and then you won't'............
Mama Mia! That'sa some pricey meat-a-ball!
Italy's October SSBR Jumps to EUR13.1 Billion after ESM Payment
http://ih.advfn.com/p.php?pid=nmona&article=54848986
Austrian economics lesson in the news.
The highest unemployment rate was in Spain, where the number of jobless rose to 25.8 percent of the workforce in September from 25.5 percent the month before. Among young Spaniards, under 25 years, unemployment rose to a staggering 54.2 percent from 53.8 percent.
Austria had the lowest unemployment rate of 4.4 percent, followed closely by the euro zone's biggest economy, Germany, with 5.4 percent.
http://www.reuters.com/article/2012/10/31/us-eurozone-economy-idUSBRE89U0GV20121031
“Unlimited does not mean uncontrolled,” Draghi said. (It all depends on what your definition of "is" is.)
Draghi Backs Schaeuble Plan for Euro-Region Budget Commissioner
http://www.bloomberg.com/news/2012-10-28/draghi-says-unlimited-bond-buying-doesn-t-mean-uncontrolled-.html
Spain sets new record!
Spain’s Unemployment Reaches Record as Bailout Looms
http://www.bloomberg.com/news/2012-10-26/spain-s-unemployment-reaches-record-as-bailout-looms.html
Eurosion?
Euro-Area Recession Deepens as Manufacturing Shrinks: Economy
http://www.bloomberg.com/news/2012-10-24/euro-area-services-manufacturing-shrink-more-than-forecast-1-.html
European Twits: The EURO slops here!
Europe pushes ahead towards ECB bank supervision
http://www.foxbusiness.com/news/2012/10/19/europe-pushes-ahead-towards-ecb-bank-supervision/
EU Receives Nobel Prize! (posthumously)
It's got a collapsing currency and rioting on the streets but the European Union wins the Nobel PEACE Prize
http://www.dailymail.co.uk/news/article-2216664/European-Union-awarded-Nobel-Peace-Prize.html#ixzz29N0X63qQ
Draghisms: 101 - Where Utopian Fantasy Hits The Road
ECB's Draghi: Euro Zone States Must Oversee One Another's Budgets
http://www.nasdaq.com/article/ecbs-draghi-euro-zone-states-must-oversee-one-anothers-budgets-20121013-00020#.UHqlosUzqn0
THE EURO IS FOREVER! (until it collapses)
Europe’s Bazooka Will Fire Blanks… Good Luck Killing the Crisis With That
http://www.zerohedge.com/contributed/2012-13-28/europe%E2%80%99s-bazooka-will-fire-blanks%E2%80%A6-good-luck-killing-crisis
Dateline Greece: Our fiscal rat hole needs more Euros......NOW!
Merkel to visit Greece as money running out
http://uk.reuters.com/article/2012/10/05/uk-eurozone-idUKBRE8940P620121005
Meanwhile in Greece....
Greek Hopes Fade for Quick Deal on Austerity, Debt
http://www.cnbc.com/id/49282940
ECB LIVE! (TWITS FROM THE ECB - PUN INTENDED)
http://www.ecb.int/press/tvservices/webcast/html/webcast_121004.en.html
Partial script revealed for new reality series, AS THE EURO BURNS
Spain: We screwed up. It's gone........all of it.
Germany: Yeah, we noticed!
Spain: May we have some more, sir?
Germany: More! You want more! Well, you are going to have to prove you will be responsible this time!
Spain: Yes, sir. We promise.
Germany: Okay, but you really, really, really must do better!
Spain: Yes sir, you can trust us this time, even though we have never been trustworthy before, our economy is tanking, unemployment is already through the roof, austerity will make the economy worse, the people are currently rioting in the streets, and our most prosperous region wants to secede.
Germany: Uh........... why, don't we just wait a bit? Our citizens may not have enough personal lubricant on hand.
Spain: Whatever.
Exclusive: Spain ready for bailout, Germany signals "wait"- sources
http://www.reuters.com/article/2012/10/01/us-spain-bailout-idUSBRE8901AB20121001
European Union elitist central banker's dream news headline to wake up to one morning next week:
Math Outlawed for Everyone but Bankers in the New and Improved European Union.
Sunday, September 30, 3:58 AM The rescue of Spain's banks will cause the country's budget deficit to hit 7.4% this year, above its 6.3% target, the government said yesterday. Authorities reckon Spain could require €40B of its EU credit line after stress tests showed the sector needs €53.75B. Spain's debt-to-GDP ratio will rise to 85.3% in 2012 - above a previous forecast of 80% - and 90.5% in 2013.
http://seekingalpha.com/currents/post/563191
SILLY fiscally conservative, anti-cronyism, anti-socialist, free market, capitalists! It's just a slight problem with the banks which simply needs a little "clean-up"! We promise, that's really and truly all it is. Seriously, a little light dusting, vacuuming the floors, and washing the windows - everything will be perfectly fine. You can trust us! (again)
Spain Government Sees 2013 Debt-to-GDP Ratio at 90.5%
http://ih.advfn.com/p.php?pid=nmona&article=54348771
Dear Insane European Banking Elitists,
Thanks, but no thanks.
Sincerely,
Hungary
Hungary to Probably Opt-Out of EU Banking Union, Szasz Says
http://www.bloomberg.com/news/2012-09-29/hungary-to-probably-opt-out-of-eu-banking-union-szasz-says.html
Moody's Blues (Newest release coming soon)
Spain's sovereign debt could be downgraded to junk status by Moody's
http://seekingalpha.com/currents/post/561401
And now the moment you've all been waiting for! The week's most anticipated negative numbers, the undisputed fiscal farce of the hour, the mother of mismanaged monies......... PUT YOUR HANDS TOGETHER AND GIVE IT UP FOR THE SPANISH BANK AUDITS!!!!!
Spain to release bank audits after austerity cuts
http://news.yahoo.com/spain-release-bank-audits-austerity-cuts-081242870--finance.html
Dear Spain,
Screw you.
Sincerely,
Catalonia
Amid Madrid protests, Catalonia bumps up elections in independence push
http://www.csmonitor.com/World/Europe/2012/0926/Amid-Madrid-protests-Catalonia-bumps-up-elections-in-independence-push
Dear Mariano Rajoy,
Prime Minister of Spain,
Is it possible this whole socialist experiment in Europe might end badly?
Sincerely,
The European Union
Greek cuts protest becomes violent
http://www.independent.co.uk/news/world/europe/greek-cuts-protest-becomes-violent-8180215.html
Socialist Economic Theory In Practice - Pretending It Could Actually Work by Mariano Rajoy - Available soon at Amazon.com and fine bookstores everywhere.
Spain to seek bailout if yields too high for too long
http://www.reuters.com/article/2012/09/26/us-spain-rajoy-idUSBRE88P09F20120926
Ladies and gentlemen, mark your calendars for the upcoming Spanish Government Twits Parade, complete with Banker Clowns and European Union Magic Tricks! Come one, come all, to see and hear the exciting extravaganza of the week! (or at least the day)
Spain set to reveal the pain in its books
http://edition.cnn.com/2012/06/07/business/spain-euro-crisis/index.html
Haven't seen it yet, but
Heard about it today in the news.
Spain, will she or will she not on this Thursday?
Anyone see that last nail?
European Sovereign Debt Crisis: Up Next, German Real Estate Bubble?
http://seekingalpha.com/article/883491-european-sovereign-debt-crisis-up-next-german-real-estate-bubble
"I got to get my rest, cause Monday's a mess"
Monday, September 24, 3:46 AM EU shares open lower as the adrenaline rush of central bank easing gives way to economic reality. "The liquidity rally looks like it's over and global growth worries are back on the agenda," says ETX Capital strategist Ishaq Siddiqi. Euro Stoxx 50 -0.6%, London -0.4%, Paris -0.6%, Frankfurt -0.3%, Milan -0.6%, Madrid -0.9%.
The magic of "leveraging".
Monday, September 24, 3:18 AM German Deputy finmin Steffen Kampeter says the eurozone is discussing leveraging its ESM permanent bailout fund. Kampeter's comments follow a report in Spiegel magazine that the bloc wants to leverage the program to give it a capacity of over €2T vs. the €500B pledged. The techniques used would be similar to those deployed for the temporary EFSF.
http://seekingalpha.com/currents/post/552131
Dear Mario,
We may be running out of suckers. We thought you would want to know.
Sincerely,
Spain
P.S. Please destroy this communication as per usual protocol.
The Chart Spain's Mariano Rajoy Wishes Could Be Swept Under The Rug
http://www.zerohedge.com/news/chart-spains-mariano-rajoy-wishes-could-be-swept-under-rug
"New Math" in Spain
Spain is Greece… Only Bigger and Worse
http://www.zerohedge.com/contributed/2012-09-16/spain-greece%E2%80%A6-only-bigger-and-worse
Now what? Are we supposed to give all these crazy socialists every last cent we have?
Sincerely,
Germany
German High Court Approves Step Toward European Dictatorship
http://www.thenewamerican.com/world-news/europe/item/12822-german-high-court-approves-step-towards-european-dictatorship
Draghi to Bernanke: Please, please, please, pleasssssse..........
"When the Fed is growing assets faster than the ECB, the euro rises, and the opposite when the ECB expands quicker than the Fed. The euro's sharp move of late makes it vulnerable to a big sell-off if the Fed doesn't announce QE tomorrow."
http://seekingalpha.com/symbol/euo
Comedy contains variations on the elements of surprise, incongruity, conflict, repetitiveness, and the effect of opposite expectations
The Premise:
Europe's Banker Talks Tough
Draghi Says Continent's Social Model Is 'Gone,' Won't Backtrack on Austerity http://online.wsj.com/article/SB10001424052970203960804577241221244896782.html
Selected Punch Lines:
Spain Seeks Full Sovereign Bailout Without Extra Conditions -Report
http://www.nasdaq.com/article/spain-seeks-full-sovereign-bailout-without-extra-conditions--report-20120905-01704
Greeks stage mock hangings in protest at austerity measures as European Central Bank riles Germans with euro debt plan
http://www.dailymail.co.uk/news/article-2199575/Greeks-stage-mock-hangings-protest-austerity-measures-European-Central-Bank-riles-Germans-euro-debt-plan.html#ixzz25mTGq05K
All loyal French socialists! Get out of the vehicle and push!!!
French Unemployment Jumps, Increasing Pressure For Growth Push
http://www.bloomberg.com/news/2012-09-06/french-unemployment-jumps-increasing-pressure-for-growth-push.html
Wow! Who knew? All this time I've been under the impression Draghi didn't have any more "credibility" to lose.
Draghi Credibility At Stake As ECB Tries To Save The Euro
http://www.bloomberg.com/news/2012-09-05/draghi-credibility-at-stake-as-ecb-tries-to-save-the-euro.html
Yes we will! (unless we don't)
ECB Plan Said To Pledge Unlimited, Sterilized Bond-Buying
Draghi will stress conditionality of the program tomorrow, with the ECB likely to stop buying the bonds of any government that fails to meet the conditions it agrees to when it signs up for aid from Europe’s rescue fund -- a precondition for ECB action -- two of the people said. Another proposal is for the ECB to sell the bonds it has bought if a country doesn’t comply with the conditions, two of the officials said.
The European annual summer long holiday is over... what was it we were talking about before we left? Oh yeah, now I remember.
September Arrives, As Does The French "Dexia Moment" - France Nationalizes Its Second Largest Mortgage Lender
http://www.zerohedge.com/news/september-arrives-does-french-dexia-moment-france-nationalizes-its-second-largest-mortgage-lend
Buy on the "dips". (no pun intended)
"Spain will consider seeking extra aid from Europe on top of a 100 billion euro rescue of its financial sector but does not see any need for new conditions" - Prime Minister Mariano Rajoy
http://www.cnbc.com/id/48882795
Financial prospects for Spain? Let's ask the typical bank account holder in Spain.......
http://www.zerohedge.com/news/spain-whom-bell-now-tolls
Next week will be dangerous for EUO,
I would consider covering until the German Supreme Court rules on the rape of the German people by the southern European socialists.
I really, really, really mean it this time! Cross my heart and hope to die! No, really, I'm as serious as a heart attack! This is it! You can take it to the bank! You can count on me! (Greek PM offers freshly minted sincere assurances)
http://www.washingtonpost.com/business/greeces-prime-minister-promises-that-new-144-billion-austerity-measures-will-be-the-last/2012/08/30/b426d23c-f286-11e1-b74c-84ed55e0300b_story.html
The bums are off vacation now,
back to work on containing a crisis that cannot be averted!
The news will be bad and this ETF will make money again.
Goodbye Greece, pack your bags Spain and Portugal.
Italy, you are on a pasta free diet or else....
I think I smell an unmistakable aroma coming from a big pot of Italian bailout simmering in the Euro kitchen!
Italian Economy Contracts For Fourth Straight Quarter
http://www.bloomberg.com/news/2012-08-07/italian-economy-contracts-for-fourth-straight-quarter-amid-slump.html
Ach du lieber! Could someone please pass the jelly.?
Spain And Italy Are Toast Unless Germany Allows The ECB To Print Trillions Of Euros
http://theeconomiccollapseblog.com/archives/spain-and-italy-are-toast-unless-germany-allows-the-ecb-to-print-trillions-of-euros
Get a rope!
U.S. stocks, euro tumble as ECB disappoints markets
http://www.reuters.com/article/2012/08/02/us-markets-global-idUSBRE86F00620120802
Did anyone remember to take Mario Draghi's belt?
Draghi Risks Market Wrath As Pressure For ECB Action Grows
http://www.bloomberg.com/news/2012-08-01/draghi-risks-market-wrath-as-pressure-for-ecb-intervention-grows.html
Euro trash talk.
Europe: Why Mario Draghi Cannot Save The Euro (VGK, EUO, FXE, EWG, EWP, EWI)
http://etfdailynews.com/2012/08/01/europe-why-mario-draghi-cannot-save-the-euro-vgk-euo-fxe-ewg-ewp-ewi/
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