Sol Invictus
10-03-2008, 01:02 AM
"Germany's biggest bank bail-out, putting together a €35 billion loan package to save Hypo Real Estate. By then Europe was "staring into the abyss," he admitted. Belgium faced worse. It had to nationalise Fortis (with Dutch help), a 300-year-old bastion of Flemish finance, followed a day later by a bail-out for Dexia (with French help).
"Within hours they were all trumped by Dublin. The Irish government issued a blanket guarantee of the deposits and debts of its six largest lenders in the most radical bank bail-out since the Scandinavian rescues in the early 1990s. Then France upped the ante with a €300 billion pan-European lifeboat for the banks. The drama has exposed Europe's dark secret for all to see. EU banks took on even more debt leverage than their US counterparts, despite the tirades against ''le capitalisme sauvage'' of the Anglo-Saxons...
"It turns out that European regulators have allowed even greater use of "off-books" chicanery than the Americans. Mr Paulson may have saved Europe."
The Europeans are finding it difficult to agree on much. The Irish guarantee of bank deposits was condemned by Brussels and London (the British fear it will cause UK savers to transfer their accounts to Ireland).
Of the French bailout plan, it is reported that Nicolas Sarkozy has called meetings with EU leaders to work on a package of measures to create a "Europe-wide emergency fund" to bail out banks when governments are unable to intervene.
http://eursoc.com/news/fullstory.php/aid/2728/Tension_In_The_Eurozone.html
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Just look at it. Still think that this isn't going to roll through europe? But really take a good long hard look. They are 'pooling' resources. Our monies going into their pools to keep them at the top of the table. We 'might' get some money 'if' we are lucky to have a bank.
Ireland took a brave step, and yet it is being howled down. Why? is it because the elite don't want the masses to have financial security? or do they want us totally dependant on 'them' in the state system?
"Within hours they were all trumped by Dublin. The Irish government issued a blanket guarantee of the deposits and debts of its six largest lenders in the most radical bank bail-out since the Scandinavian rescues in the early 1990s. Then France upped the ante with a €300 billion pan-European lifeboat for the banks. The drama has exposed Europe's dark secret for all to see. EU banks took on even more debt leverage than their US counterparts, despite the tirades against ''le capitalisme sauvage'' of the Anglo-Saxons...
"It turns out that European regulators have allowed even greater use of "off-books" chicanery than the Americans. Mr Paulson may have saved Europe."
The Europeans are finding it difficult to agree on much. The Irish guarantee of bank deposits was condemned by Brussels and London (the British fear it will cause UK savers to transfer their accounts to Ireland).
Of the French bailout plan, it is reported that Nicolas Sarkozy has called meetings with EU leaders to work on a package of measures to create a "Europe-wide emergency fund" to bail out banks when governments are unable to intervene.
http://eursoc.com/news/fullstory.php/aid/2728/Tension_In_The_Eurozone.html
################################################## ##
Just look at it. Still think that this isn't going to roll through europe? But really take a good long hard look. They are 'pooling' resources. Our monies going into their pools to keep them at the top of the table. We 'might' get some money 'if' we are lucky to have a bank.
Ireland took a brave step, and yet it is being howled down. Why? is it because the elite don't want the masses to have financial security? or do they want us totally dependant on 'them' in the state system?