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I'm not sure that this will be a bailout, rather than a liquidity measure (even if banks can still cash in). However, the austerity measures that go with them are another issue. Here is a more detailed Left Party position from one half of the new leadership due:

Klaus Ernst: Das waren Scheinverhandlungen (21.05.2010) | Interviews | News | General-Anzeiger Online - BonnKlaus Ernst: Those were fake talks (21.05.2010) | Interviews | News | General-Anzeiger Online - Bonn
Ernst: Heute wird eine große Mehrheit des Bundestages dafür stimmen, was wir seit Jahren fordern: die unbedingte Notwendigkeit, die internationalen Finanzmärkte zu regulieren und Spekulation zu besteuern. Vor zwölf Jahren wurde Oskar Lafontaine deshalb vom Boulevard als der "gefährlichste Mann" Europas verunglimpft. Heute schreiben alle von uns ab. Hätte damals vor allem die SPD Lafontaines Vorschläge aufgegriffen, hätten wir heute die Probleme nicht, Oskar wäre vielleicht noch in der SPD und die Geschichte wäre anders verlaufen.Ernst: Today, a great majority of the German federal parliament will vote for something we demanded for years: the unconditional necessity of regulating international financial markets and of taxing speculation. 12 years ago, Oskar Lafontaine was vilified as the "most dangerous man" by the rainbow press for that. Today, everyone copies from us. Would above all the SPD have taken up Lafontaine's proposals back then, we wouldn't have the problems today, and maybe Oskar would still be in the SPD and history would have had a different course.
GA: Gregor Gysi hat gesagt, ihm sei egal, wer die Forderungen der Linken im Bundestag zum Gesetz mache. Stimmt die Linke dem Regierungsentwurf zu? GA: [federal parliamentary Left Party faction leader] Gregor Gysi said that it doesn't matter to him who makes the Left Party's demands law in the federal parliament. Will the left Party support the government proposal [on the Euro aid package]?
Ernst: Wir können dennoch nicht zustimmen. Wenn in der Folge auch des deutschen Versuchs, den Euro zu retten, andere Euro-Staaten wie Griechenland gezwungen werden, drastischen Sozialabbau zu betreiben, Renten und Gehälter zu kürzen oder die Mehrwertsteuer zu erhöhen, dann sind wir nicht dabei. Eine Garantie für den Euro reicht nicht. Es muss auch eine Sozialstaatsgarantie für die Europäer geben. Wir wollen einen verbindlichen Beschluss, dass Sozialabbau zur Finanzierung der Krisenkosten ausgeschlossen ist. Was heute den Griechen zugemutet wird, trifft morgen uns.Ernst: We still can't vote for it. If, also in the consequence of the German attempt to help the Euro, other Euro countries like Greece are forced to conduct drastic social downsizing, cut pensions and wages, or raise the VAT, then we won't go along. A guarantee for the Euro is not enough. There must also be a guarantee of a social state for Europeans. We want a binding resolution that social downsizing to finance crisis costs is excluded. What Greeks are expected to put up with today will hit us tomorrow.
GA: Griechenland hat die Krise nicht mit ausgelöst? GA: Was Greece not a co-igniter of the crisis?
Ernst: Dafür sollen aber nicht die normalen Bürger bluten müssen, sondern Großbanken und Spekulanten. Wir stimmen keinem Modell zu, das die Konjunktur in Deutschland oder anderen Euro-Ländern abwürgt.Ernst: For that, however, it shouldn't be the normal citizens who bleed, but big banks and speculators. We won't agree to a model that throttles the economic recovery in Germany or other Euro countries.
GA: Was ist der Linken denn die Rettung des Euro wert? GA: What is then the price worth saving the Euro for the Left Party?
Ernst: Ich verweise auf das Stabilitätsgesetz der Bundesrepublik Deutschland von 1967: außenwirtschaftliches Gleichgewicht. Der gigantische deutsche Außenhandelsüberschuss steht für das Defizit vieler Länder. In Deutschland hat man Löhne gedrückt, Leiharbeit eingeführt, Hartz-Gesetze gemacht und damit die Konkurrenzfähigkeit gegenüber allen anderen Ländern erhöht.Ernst: I'll point at the stability law of the federal republic Germany of 1967: balanced foreign trade. The gigantic German foreign surplus stands for the deficit f many countries. In Germany, wages were suppressed, contract work introduced, Hartz laws introduced, and with that the competitiveness against other countries was increased.


*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Sun May 23rd, 2010 at 05:19:34 AM EST
[ Parent ]
Very nice, but is Die Linke going to get far electorally criticizing the German economic model?
The gigantic German foreign surplus stands for the deficit f many countries. In Germany, wages were suppressed, contract work introduced, Hartz laws introduced, and with that the competitiveness against other countries was increased.


By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Sun May 23rd, 2010 at 06:00:49 AM EST
[ Parent ]
would running against


wages were suppressed, contract work introduced, Hartz laws introduced

be unpopular?

Wind power

by Jerome a Paris (etg@eurotrib.com) on Sun May 23rd, 2010 at 09:20:03 AM EST
[ Parent ]
No, but arguing that The gigantic German foreign surplus stands for the deficit f many countries might.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Sun May 23rd, 2010 at 09:23:59 AM EST
[ Parent ]
"you can't run on "let's pay for a decent social net" because of "it requires increased taxes"

Leftwing policies are hard work in the face of primitively selfish arguments...

Wind power

by Jerome a Paris (etg@eurotrib.com) on Sun May 23rd, 2010 at 11:23:52 AM EST
[ Parent ]
But many people are primitively selfish, and in denial about it.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Sun May 23rd, 2010 at 01:21:26 PM EST
[ Parent ]
well, yes.

Thus the hard work bit - it was not snark, just noting the sad reality.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Sun May 23rd, 2010 at 03:45:32 PM EST
[ Parent ]

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