EU : Is the eurozone in need of small politics? (recommended reading below)

Just to make sure everyone's talking about the same thing.

1. The Recommendation and final results of bank recapitalisation plan will be published by the European Banking Authority (EBA) on 8th December 2011.
   CLICK HERE FOR RESULTS
2. Markit News: Biggest Credit Movers (Go to G7 Industrialised Countries CDS page 3 - Here)

After reading the documents, let's put it that way, there is more in a sovereign rating than just the daily facts and numbers.

• The level of the GDP taxation plays a key role in eroding anyone's ability to improve the public finances.

Will a war of words over who's worse off help the eurozone solve the lack of fiscal responsability of some of its members? Can pointing fingers at this one or another help to avoid a long overdue national conversation over public spending, GDP taxation, Small Nations funding and Rights? 

The Government has the political will and credit to slash public spending in a stable political environment.

Investor's fear of political turmoil or social unrest is low

Investments enjoy a secured fiscal and political spot

The ability to unite and resiliency in tough times do play a role in the investor's choice.

Just kidding.

Do u think u r getting paid to have a good time and laugh on air...?

EU Parliament is no surprise whatsoever

Can you think of President Hu Hintao declaring there are clearly two Chinas one with Hong Kong and one without? The best sign so far that the last summit was more about EU internal politics than it was about solving a financial crisis that undermines every economy. Since the very beginning those engaged in a nation building experiment (without telling their people, by the way) knew the day the UK will say no to any sovereign powers loss would come and it was their duty if they had any ambition for the EU to make sure this day never come while pursuing their own goals as a portion of the EU, should this portion be large. But as usual more short sighted than ever the political battle for small powers and the lack of vision prevented the small elected kings to foresee the interest of having within a big regulated industry all over the continent a less regulated and creative sector of the industry with a very large international trade at its door. No vision.

And let's be honest once for all about the crisis. For a over a decade, the banks balance sheets grew at a pace and on a scale never seen before with most of the time absolutely no capital raised defying every single odd of capitalism. It allowed the industry to fuel lending with less capital, reach levels of profitability nobody ever dreamed of, accessory, that lead to unseen levels of payouts and bonuses for management but nothing of all that was ignored whether by regulators or politicians involved in relations with the industry.

Oh well, dont know for sure yet but it is a bit awkward to me. I doubt the Dutch to buy the stuff as it is a common place, watching today most of those asking for more banking regulation is just like Capone asking for more prohibition, it is a joke and what's making it worse is when the lack of it is used for a cause to explain the sovereign debt crisis....assuming all citizens are asleep just like all the reguatory bodies as well EU bureaucracies were for years as several countries were buiding mountains of debts right under their nose, they didnt see it, well, I mean, alright u guys were blind I guess, but how the hell more regulation would have restore ur sight, never heard of a prescription for a white stick healed a blind.....

if u have a minute, http://lindleyfrench.blogspot.com/

Have briefly seen a growing number want a referendum in the Netherland, what have u got?

Helsingin Sanomat - NOT LONG AGO......

Is it what u r lookin for?
'Hell Will Freeze Over' Before Finland Signs This Treaty‎
Either unanimity is required in ESM decisions as agreed before or Finland will drop out of ESM.
http://www.hs.fi/english/article/EU+summit+Finland%E2%80%99s+concerns+remain+unanswered/1135270021997

Now, dont ask me, have no idea about that stuff about unanimity but the UK . Thats all crap. Not least I expect some much more brutal reaction elsewhere as knowledge of the exact content of the proposed treaty is exposed to parliaments. The conclusion being all parties to be financially liable in the future with or without their formal sovereign agreement through the ESM..... Looking to me much more like a wallet's swinging party, some coming with empty ones and still using the plastic rectangular as needed since the all can decide to dig into any without asking.

In a move dismissed by officials in Brussels as an attempt to set Britain up as the "fall guy", senior French figures said Cameron wanted an "opt out" from EU financial services regulation. (More here http://www.guardian.co.uk/business/2011/dec/08/david-cameron-nicolas-sarkozy-euro?newsfeed=true and there http://www.telegraph.co.uk/finance/financialcrisis/8944323/Euro-summit-rocked-by-row-over-veto-plan.html )

But why is the United Kingdom and the City repeatedly accused of  trying to escape "EU Financial regulations"?
For answers look no further than two recent events in the financial sectors prompting a UK regulator's intervention and a row of compensation for the victims of financial products mis-selling.
(to learn more)

1. BBC News - Banking industry gives up on PPI mis-selling battle
2. BBC News - HSBC faces £40m bill for mis-selling to elderly in care

Incredibly embarrassing for the french officials, in particular for Mr Barnier alias "we don't need an authorisation" (show me u got some - wenker) responsible for EU financial services regulation following a never ended list of bank malpractices and bank products mis-selling leading to a countless number of victims left to cry after their life time savings had evaporated, the shameful IPO retail sale of Natixis shares being just an example. The lack of any regulation and bank malpractice in France and elsewhere in Europe has lead to a very serious situation it was urgent to blame on the City ....

Herve Morin presidential race hopeful if it does run all the way, looks more as an attempt to wind off the referendum in Normandy to choose between the Queen and the french president as head of state. Herve hopes to score high enough in Normandy on the first round of the presidential race to dismiss the growing need for a referendum as it appears that from several part of the territory an overwhelming majority wants change and they want it now. They consider that the french sitting in Paris have proved to be a complete failure and debt maniacs soon to be one more time with both hands in Normandy's people pockets. Absolutely sick of it, they are clearly showing signs of leaning for change asking for the return of a more conservative Head of State for Normandy, The Queen and the return of the Land under British rule with of course their own Assembly and traditional language just like Jersey and Guernsey, knowing some restrictions may apply regarding settling in tother parts of the Kingdom.

Many looks at his candidacy as the last desperate attempt from the frech to stop the referendum to take place>>

Say what? Have enough now to provide support or it?

To be honest I dont think so, was told that it was on Sarky's demand that he organised a safety raft to be lauched to evacuate the diversity stuff from the UMP ship, the raft heading to the center right with Borloo as captain giving the UMP ship some room to manoever on the right, the lauch justified by the extreme views the main ship had advocated regarding Immigration and Security issues, making Sarky's cockpit looking more like the right wing while Borloo on the raft was taking so;e cockpit staff out of sight>>> can't forward full text>>> looks ok.

Hey I m off for now. U r tough… Drinker with a garlic breath I wasn’t thinking of borloo  but why the hell do u think of him to seat as Chief Economist at the ECB? Unless u have plans to drive nut Wolfgang…

Honest Report

Joint euro-area bonds are also “unthinkable” as long as governments retain national control over budgets, Merkel said today.

“You have to differentiate between credible enforcement powers and joint European control over revenue and spending,” she said. “And as long as this is so, joint liability for the debt of others is unthinkable. That also takes care of the debate over so-called euro bonds for now.”

No, the french president doesn’t bend in front of A. Merkel, as I said previously, there is throughout Europe a much larger coalition than just Germany to refuse an anarchy QE style of ECB’s intervention….

Sarkozy agreed at a meeting with Merkel and Italian Prime Minister Mario Monti on Nov. 24 to stop pressuring the ECB to step up its response to the debt crisis. Sarkozy retreated after Draghi criticized French calls for the ECB to use its unlimited power to backstop euro-area bond markets, something that Merkel has also repeatedly rejected.

I can only recommend to follow the debate on BLOOMBERG :

http://www.bloomberg.com/news/2011-12-02/merkel-says-joint-euro-bonds-unthinkable-as-eu-faces-debt-crisis-marathon.html

Second and not least, there is a silenced corner of Europe that supports an independent ECB, the fact that Germany has the political lead is secondary to the essential and key important factor for the economy, a strong currency with low inflation to protect wages power with in mind that inflation is the most unfair tax you can think of.

Nathalie.... Please.

Don't think so there can't be any agreement leading to a reduced share of GDP funding the private sector, Finland, the Nederland and German small amd mid cap would oppose any such fiscal move. As far as I know.

Thanks for showing Sister Pecresse at the office... ;))no am watching the cross 1.34678

Thanks

I don't share this opinion and there is a fact, it is not just Germany refusing to see the ECB changed into a monkey currency central bank. Finland, The Nederland as well share the opinion the ECB mandate which is to insure price stability either way as Mario had recently to remind everyone it was his mandate as well, is exactly what is expected, awaited from the ECB, no less, no more. Is this mandate a widely shared view across Europe the answer is yes, nobody wants to see the return of monkey currencies and cascades of devaluation of the currency run by drunk drivers with a garlic breath....;)) (don't fell offended or concerned just between Super Devil and Mario and myself)
So, no a central bank cannot solve an excessive debt load fuelled with crazy and insane public spending printing money. It would lead to an even bigger catastrophe. And STOP pretending the Fefd did because that's unacceptable, the Fed entered QE to fight deflation and as u have been able to learn or rediscover... Mario just informed u that his mandate include fighting deflation should the zone be under such a threat.
For those still looking for a free shot of public spending debt funded or devaluation fueled the answer is very clear, NO and NO a position with an extremely large support across the board.
Don't make mistakes, is A Merkel shares the view, the support is much wider and the Bismarck kind of stuff which is very insulting appears to be unnecessary and doesn't help. People have to take responsibility for their mistakes and policies mis steps over decades that lead them into a precarious situation. Not the ECB, devaluation or anybody can act on their behalf, the solution is with them, their ability to deal with their weaknesses and poor habits and their will to change and live within their means.