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Does Schaüble win too? Because that would be a loss...

On the other hand, if Schaüble, having cried victory yesterday, proceeds to STFU today, then everybody wins.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Tue Feb 24th, 2015 at 11:27:47 AM EST
[ Parent ]
The latter.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Tue Feb 24th, 2015 at 11:32:35 AM EST
[ Parent ]
Schäuble. Since the Eurogroup approval includes him, he is obviously included in "everybody wins".

Apart from an insult from Merkel this time ("the Greek government arrived in reality step-by-step"), so far I don't see any government spin reported in the German media, all they say is that Schäuble already requested the vote on the Bundestag approval. The conservatives in the Bavarian CSU agitate against approval, and so does CDU foreign policy "expert" (and all-around asshole) Wolfgang Bosbach who reportedly wants to leave government over its (for him not hawkish enough) Greece policy.

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Tue Feb 24th, 2015 at 12:13:54 PM EST
[ Parent ]
Bosbach is suffering on cancer; perhaps hew just wants a great exit.
by IM on Tue Feb 24th, 2015 at 12:35:23 PM EST
[ Parent ]
Ugh... but I can't deny I laughed...

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Tue Feb 24th, 2015 at 12:45:09 PM EST
[ Parent ]
German MPs urged to take tough line on Greece - FT.com

An influential German business group is urging MPs to take a tough line on Greece ahead of a Friday vote in the Bundestag to approve an extension to the country's bailout.

The lower house of Germany's parliament is broadly expected to pass the four-month extension that eurozone finance ministers agreed with Athens on Tuesday.

Nonetheless, Chancellor Angela Merkel could face a sizeable rebellion within her Christian Democratic Union and its Bavarian sister party, the Christian Social Union. If nothing else, the warnings from the CDU's business caucus and other conservatives reflect widespread unease about providing additional support to a Greek government amid doubts about its reform pledges.

In a letter to lawmakers, Kurt Lauk, president of the CDU's Economic Council, wrote: "A simple extension of the aid programme without effective terms would mean that we are knowingly throwing further good money after bad."

The council, an association representing business interests, is a longstanding critic of eurozone bailouts. It argues that rescues create moral hazard for governments that mismanage their economies.



"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
by Melanchthon on Wed Feb 25th, 2015 at 11:38:29 AM EST
[ Parent ]
If the Bundestag wants to blow up the Eurozone, they can go right ahead.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Wed Feb 25th, 2015 at 11:45:47 AM EST
[ Parent ]
I doubt that. Backbenchers having their day in the sun. Nothing more.
by IM on Wed Feb 25th, 2015 at 11:56:48 AM EST
[ Parent ]
well, 29 or so voting against isn't nothing. Still overall the usual backbencher posturing.
by IM on Fri Feb 27th, 2015 at 01:59:02 PM EST
[ Parent ]
That depends on if they believe their own spin of the lazy Greeks spiriting away our money or not. I don't believe that the coalition won't get enough votes, though. Their majority is large enough.
by Katrin on Wed Feb 25th, 2015 at 12:18:48 PM EST
[ Parent ]


A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Wed Feb 25th, 2015 at 12:26:47 PM EST
[ Parent ]
So now we learn that public TV had to be closed when IMF bureaucrat Poul Thomsen blackmailed the minister for the reform of public service, Antonis Manitakis, to immediately fire 4,000 additional public servants, just to scare those remaining, claims Manitakis. So this is what the current government must avoid, given Lagarde's indication of continuing to play hardball. Another IMF bureaucrat advised the Greek government to bring no lawsuits against any of those on the Lagarde list of tax cheats. As for the minimum wage reduction to a level opposed even by the employers, the blackmailers enforcing it aren't identified beyond "reviewers of the Eurogroup".

The article also says, citing a dissident IMF official from Brazil, that the IMF couldn't have participated in the bailout by its own rules until DSK changed them (though once the rule was changed, there was majority support for the bailout).

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Wed Feb 25th, 2015 at 01:16:00 PM EST
[ Parent ]
These are all points made in the film I saw last night :

Puissante et incontrôlée : la troïka (French version)

Macht ohne Kontrolle, Die Troika (German version)

... ah. I see the film's researchers are credited in the article :
Eurokrise: Die wirtschaftlichen Eliten bleiben verschont | ZEIT ONLINE

Mitarbeit: N. Leontopoulos, E. Simantke Dieser Bericht beruht auf Recherchen für den Film "Macht ohne Kontrolle - die Troika" von Harald Schumann und Arpad Bondy, der am Dienstag Abend bei Arte gesendet wurde und noch in der Mediathek abrufbar ist.


It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Wed Feb 25th, 2015 at 01:51:36 PM EST
[ Parent ]
Not just credited, the article was written by Harald Schumann.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Wed Feb 25th, 2015 at 02:36:07 PM EST
[ Parent ]
So now we learn that public TV had to be closed when IMF bureaucrat Poul Thomsen blackmailed the minister for the reform of public service, Antonis Manitakis, to immediately fire 4,000 additional public servants, just to scare those remaining, claims Manitakis. So this is what the current government must avoid, given Lagarde's indication of continuing to play hardball.

NO! It needs to be publicly challenged for the overt political intervention that it is - stifling diversity of opinion in broadcast media. Another bluff to call. Make this early and high profile. If need be the only of her red lines crossed at the time.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Feb 25th, 2015 at 02:49:26 PM EST
[ Parent ]
Though I wonder when the charade will end? Another five years? Sometime in the 2020s when presumably von der Leyen or Kramp-Karrenbauer will have to clean up that mess? This "Insolvenzverschleppung" ("fraudulent trading due to balance sheet insolvency" in English) is just a political nuke waiting to explode. The only chance for survival is to enter into a mutually agreeable  debt restructuring that can be favorably obfuscated so that Eurozone creditors don't face the wrath of [a majority] their populace. But common sense has been having a hard time. Why should it be different now?

Schengen is toast!
by epochepoque on Wed Feb 25th, 2015 at 03:07:54 PM EST
[ Parent ]
"In a letter to lawmakers, Kurt Lauk, president of the CDU's Economic Council,"

As things stand right now, the CDU's business council is at the nadir of it's influence. Lauk is hardly a power broker.

by IM on Wed Feb 25th, 2015 at 11:58:09 AM EST
[ Parent ]

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