Peugeopel

That rolls right off your tongue, doesn’t it?

Opel

GM gets rescued by the American government (government is a code word for taxpayer, by the way), Opel gets rescued by the German government and Peugeot gets rescued by the French government. Is there a pattern developing here or something? Now GM is going to rescue itself out of Europe and dump its Opel on Peugeot, making it a Peugeopel. But who the hell would want to rescue one of those?

General Motors is in advanced talks to sell its European Opel subsidiary to France’s PSA Peugeot Citroen, Handelsblatt confirmed after Reuters broke the story. A Peugeot spokesperson told Handelsblatt that the two are in discussions “over the purchase of Opel.” A deal “could be announced within days,” sources told Reuters.

Seit Jahren versucht General Motors vergeblich, seine Marke Opel zu sanieren. Nun steht offenbar ein Verkauf an den französischen Konkurrenten Peugeot an.

The Guy YOU Love To Hate

I pour moi think he’s the greatest. Weiter so (keep it up), Wolfgang!

Schäuble

Despite bitter opposition in many quarters to the austerity-first policies Germany has imposed on Europe’s poorer nations, Chancellor Angela Merkel’s government has hung on to its role as champion of integration on the Continent through deft use of diplomacy and the country’s economic clout.

But in negotiating a new deal this week to bail out Greece, Germany displayed what many Europeans saw as a harder, more selfish edge, demanding painful measures from Athens and resisting any firm commitment to granting Greece relief from its crippling debt. And that perception was fueled on Thursday when the German finance minister, Wolfgang Schäuble, suggested that Greece would get its best shot at a substantial cut in its debt only if it was willing to give up membership in the European common currency (they mean Grexit here, of course, they just don’t like to use the word).

“Ich werbe nur dafür, dass Sie heute nicht meinen – jetzt ist das Thema erledigt, jetzt haben wir noch mal einen da zum Bösewicht erklärt. Ich bin so abgehärtet in einem langen politischen Leben, dass mich das nicht aus der Bahn wirft.”

More German “Universalization,” Please

German policy-makers genuinely believe the harsh medicine for Greece and others is the right thing to do, he added. In some ways, Germany is “trying to universalize its own history,” Mr. Kundnani noted. That history includes an extreme leeriness of inflation and debt, plus more recent experience about a decade ago with a series of successful economic reforms, including an overhaul of its labour market.

Germany

“I don’t see Germany as being an outlier. I see it rather as someone who is in the middle ground and seeking a balance. Germany is taking a lead by managing the debate.”

Germany Defeated Yet Again

No, it wasn’t World War III. It was the Endkampf (final battle) for Bailout III. Like, don’t these people ever get tired of surrendering?

Defeat

Europe woke up on Monday to a lot of headlines about the humiliation of Greece, the triumph of an all-powerful Germany and the subversion of democracy in Europe.

What nonsense. If anybody has capitulated, it is Germany. The German government has just agreed, in principle, to another multibillion-euro bailout of Greece — the third so far. In return, it has received promises of economic reform from a Greek government that makes it clear that it profoundly disagrees with everything that it has just agreed to.

“History repeats itself, first as tragedy, second as farce.”

To Russia With Love

I mean with debt. Go with God, Greece, but go (to Russia for more dough). I’m sure they’ll make you an offer you can’t refuse.

Russia

Greece’s energy minister is visiting Russia today after calling for a confrontation with a “Germanised Europe” in the country’s stalling bailout negotiations.

The visit comes less than a fortnight before Greek prime minister Alexis Tsipras is due to visit Russian president Vladimir Putin, the date of which was reportedly brought forward because of Greece’s financial disputes with the European Union.

“Today, it becomes even more evident to me that the pathway of the country away from the crisis goes through tough confrontation, if not collision, with the Germanized Europe.”

Gold-obsessed German Smuggler Drops Plans To Rob Fort Knox

But gets caught at Athens International Airport attempting to smuggle half a ton of gold and silver out of Greece to Germany instead.

Goldfinger

Wait a second. Aren’t the Germans the ones who are supposed to be smuggling their gold (as in Geld) into Greece these days?

The man was trying to board a Lufthansa flight back to Germany when the airline uncovered nearly 1,000 lbs. of what the BBC calls silver “tablets” in a cargo container.

Rich Germans Actually The Euro Zone Po Folks

As recently reported, rich Germans have suddenly and inexplicably become the poor men of Europe, relatively speaking.

Poor

According to the latest ECB Vermögensstudie (wealth study), the Cypriots, of all people, are among the richest citizens in the euro zone. Germans, on the other hand, have come in at last place.

Wait a second. Wasn’t there something recently about Cyprus striking a 10-billion euro bailout deal with the European Union? I must have got that wrong (or the Cypriots certainly got that right).

Ausgerechnet die Zyprer gehören zu den reichsten Bürgern der Euro-Zone, Deutschland steht am Ende der Rangliste.

 

Europe’s Largest And Most Prosperous Nation Shocked About Being Treated Unfairly

The intense negative reactions to the Cyprus bailout program, including the constant comparisons made to Germany’s Nazi past, appear to have taken many Germans by complete surprise. Most simply cannot understand why people do not like them just because they are big and strong.

Merkel

Germany has contributed more than 220 billion euros, or $280 billion, pledged through loans and financial support packages for Greece, Ireland, Portugal and Spain, all negotiated with those countries’ euro zone partners, for instance. And yet unfair allegations continue to be made.

Nor were Germans alone in insisting on reforms from those European partners seeking financial assistance. The Netherlands, Finland and Austria are frequently mentioned as countries that hold a similar position, yet Germany always ends up being the target of anger.

“We just don’t get it,” one German politician was quoted as saying. “It’s as if they don’t like us just because we are big and strong, because of our affluence and our power. It’s as if they resent our very existence because of this and because of the new soft hegemony we are now practising in Europe. They feel that we are materialistic, hedonistic, egotistical and shallow. I don’t know, in the end they’re just envious and jealous.”

“I mean,” he then continued. “It’s not is if we were some sinister dominating powerhouse like the USA or anything, spreading its corruptive capitalistic influence too widely around the globe the way it does, smothering the rest of us with it’s commercial and materialistic view of life and the world. We’re just well-intentioned Germans, remember?”

“Germany acts in solidarity so that crisis countries will have a perspective in the future. I wish that those people at the top — the president of the E.U. Commission and the E.U. president — would defend Germans against unfair allegations.”

Springtime For Merkel And Germany

In the end, the Cypriots swallowed the bitter medicine. Facing national humiliation and a bleak future many complain their small nation has been forced to succumb to the will of a larger, merciless power – Germany.

Cyprus

And the Germans also have a clear and consistent analysis of the problem. They believe that fiscal profligacy or faulty business models lie at the heart of the crisis – and the solution is austerity, allied to structural reform. There are many who argue that this prescription is dangerous. But the anti-austerians have failed to come up with a set of alternative policies that is coherent enough to turn the intellectual tide.

…This Germanophobia is unfair. Behind all the shouting and the wrangling, German taxpayers will once again be funding the biggest single share of yet another eurozone bailout.