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Friday, June 22, 2012

SOS: Italian PM says Europe has ‘one week to save the eurozone’

Blogman's Notes: Anyone with even a rudimentary understanding of the impossible to pay or even to manage Debt burden understands that all this talk about saving the Eurozone, saving Greece, saving Spain, saving Italy and so on and so forth is just hogwash. There is no solution to this DEBT problem expect for all the debtors to go BANKRUPT. Since that is the one solution the PTB will not even mention, let alone seriously consider, they come up with meeting after meeting, plan after plan, but in 4 years now they have not managed to do one thing that has alleviated the problem even a little bit, let alone resolved it. On the contrary the problems keep getting bigger and bigger and bigger... Are all the leaders of the world bumbling idiots in the vein of Inspector Clouseau or are their intentions just a bit more sinister. The clue to their real intent is found in the statements that they make; here's what the Italian PM (a Goldman Sachs alumni) had to say: To emerge in good shape from this crisis of the eurozone and the European economy, ever more integration is needed,” Is that perhaps the goal? Integrate Europe, actually integrate European debt so that even the healthier economies like Germany's become debt ridden and weak. And then escalate the problem even more so that the next step would be the integration of the whole world.... A one world currency, a one world government - that can'e be the intent, can it? To me it is plain as day that that is exactly the intent; so look for more banks and nations to be declared insolvent, and more nations to lose, what's left of their sovereignty as a result.
SOS: Italian PM says Europe has ‘one week to save the eurozone’ | The Extinction Protocol: 2012 and beyond

June 22, 2012 – ITALY Italy’s Prime Minister, Mario Monti, has warned of the apocalyptic consequences of failure at next week’s summit of EU leaders, outlining a potential death spiral whose consequences would become more political than economic. The Italian leader is to hold talks with Chancellor Angela Merkel of Germany, the French president, François Hollande, and Spain’s prime minister, Mariano Rajoy, in the hope that the single currency’s big four countries can pave the way for a breakthrough at next week’s meeting. Speaking to the Guardian and a group of leading European newspapers, Monti said that, without a successful outcome at the summit, “there would be progressively greater speculative attacks on individual countries, with harassment of the weaker countries.” The attacks would be focused not only on those who had failed to respect EU guidelines, but also on those like Italy, which he said had abided by the rules “but which carry with them from the past a high debt.” Monti warned: “A large part of Europe would find itself having to continue to put up with very high interest rates that would then impact on the states and also indirectly on firms. This is the direct opposite of what is needed for economic growth.” Outlining the result of a failure at the talks, Monti said that, faced with creeping economic paralysis, “the frustration of the public towards Europe would grow,’ creating a vicious circle. “To emerge in good shape from this crisis of the eurozone and the European economy, ever more integration is needed,” said Monti. Yet, if the summit failed to resolve the problems quickly, “public opinion, but also that of the governments and parliament… will turn against that greater integration.” Monti said he could see the beginnings of the process “even in the Italian parliament, which has traditionally been pro-European and no longer is.” –The Guardian

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