That means a black day
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Tag Archives: Spain
A New Axis Of Evil Or Something
It’s not just Germany hurting Greek feelings anymore (although the Germans are still evil, too).
The Greek government is now accusing Spain and Portugal of conspiring against it, as well. It’s a conspiracy, you see, because these two countries are willing to carry out the stringent reforms needed to get their economies going again. Greece clearly is not.
Greece’s leftist Prime Minister Alexis Tsipras accused Spain and Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year.
How much longer is this show going to go on?
“Nach europäischen Maßstäben war das ein sehr ungewöhnliches Foulspiel. Das tun wir nicht in der Euro-Gruppe, das gehört sich nicht.”
I’ll Bash Germany With The Best Of Them
But… How is it that its critics blame Germany for the high unemployment, declining living standards, and riots to their South?
If this were a football game, the referee should call unnecessary roughness for piling on Germany. The American Left led by Paul Krugman (The Harm Germany Does and Those Depressing Germans) excoriates Germany for forcing austerity on the rest of Europe. The U.S. Treasury – and others – (no newcomer to spending) demands that miserly Germany spend more to pull the PIIGS (Portugal, Italy, Ireland, Greece and Spain) out of their economic doldrums…
I interpret the liberals’ German bashing as having an entirely different motivation – their inherent dislike of economic success… In the liberal mind set, success must be equally shared. If one person, company, or country is better off, it must be at the expense of those who are less well off. We need to even things out in their zero-sum world.
PS: And I’m going to go even further out on the limb tonight defending Germany by predicting that they will finally – after 19 encounters? – beat Italy.
Friedman’s Prophecy
I don’t believe in prophets. I’m very skeptical when it comes to economists of all flavors, too.
But when looking around at what’s going on here in Europe these days and considering how even the Spiegel itself now warns us about investors preparing for the euro collapse, I can’t help but wonder if Milton Friedman didn’t have a functioning crystal ball after all.
“There is no historical precedent for such an arrangement (the euro). It involves each country’s giving up power over its internal monetary policy to an entity not under its political control. Such a system has economic advantages and disadvantages, but I believe that its real Achilles heel will prove to be political; that a system under which the political and currency boundaries do not match is bound to prove unstable.”
So Much For That Shootout
I still don’t know who Gary Cooper was here, but Mario Draghi just went from “I will do whatever it takes to preserve the euro” (and buy up Spanish and Italian bonds) to “the ECB may consider” doing so at a later date.
Needless to say, the markets were not amused. Cherchez la femme, I’d say (and it ain’t Grace Kelly).
What’s the hold up? Germany, perhaps. During a press conference afterwards, ECB vice-president Vítor Constâncio noted that only one member of the ECB was adamantly opposed to bond purchases. This seems to be a reference to Germany’s Bundesbank, which had vigorously opposed a central-bank bailout of Spain and Italy. And even though the Bundesbank doesn’t have a direct veto over ECB actions, it seems Germany, as the richest country in the euro zone, still has plenty of sway.
“For all the criticism of Merkel, she distinguishes herself from politicians on both sides of the Atlantic in that she has a plan.”
Germany Drains Spain’s Brains
In a ghoulish plan to intensify their already ironclad grip of an anemic Europe, depraved German industrialists have now begun luring unsuspecting southern European engineers to Germany by offering them well-paid jobs which will allow them (the depraved Germans) to drain their brains at leasure.
To make matters worse, if that were possible, another grisly gimmick has also been introduced in which so-called “blue cards” (green had already been taken) are being offered to skilled non-EU workers, as well. Although ostinsibly intended to “make the immigration process” easier, this “blue card” babble is clearly just another cynical euphemism for more German brain draining activity.
The gruesome brain-sucking capitalist bastards.
In December, a planeload of 100 Spanish engineers flew to nearby Stuttgart for a weekend of job interviews. Within a month, about a third of them had been hired. And some German companies have been making connections over the Internet, simply plucking Spanish, Portuguese, Greek and Italian professionals from sites like LinkedIn.
Cukes, Kooks and Nukes
I tell you, DANGER is everywhere you look these days. If it’s not deadly organic cucumbers (sorry, Spain, we didn’t mean to ruin your cucumber industry with a false alarm like that, no hard feelings, OK?), it’s freakin’ Ikea alarm clock attacks by “The Easily-Broken Kids Room Furniture Liberation Army” in the Benelux (thanks, Joe).
And then of course there’s the ongoing, ever-growing radiation alarms after the Japan Nuclear Crisis in, uh, London and New York.
Stop the world I want to get off or something.
“Whatever the radiation in Tokyo at the moment, you can be fairly sure it is lower than natural background levels in many parts of the world.”
Organic Cucumber Phase-Out Recommended
As if Switzerland’s announcement of a plan to follow Germany down the path toward a nuclear phase-out had not been shocking enough (other nervous European countries are now most certainly to follow), the alarming outbreak of enterohemorrhagic Escherichia coli (EHEC) in Germany traced to organic cucumbers grown in Spain has led to wide-spread calls for an organic cumumber phase-out as well.
“We now know that organic cucumbers are more deadly than Fukushima,” said one highly concerned Brussels bureaucrat. “This incident has opened our eyes to the total helplessness of organic cucumber operators, I mean growers, everywhere. We Europeans can no longer deny that an accident of this magnitude is indeed possible so it only stands to reason that the only way to deal with a crisis like this is to stop eating organic cucumbers altogether.”
PS: Thanks for the Hinweis, Ole Phat Stu.
Observing Hermann 