GREEK AND FRENCH TIMEBOMBS

The libertarians of eurozone wait for Scarlet Pimpernel to save them from the
financial transactions tax, the huge taxation, the huge regulation, the 23% VAT,
kleptocracy, and the cancer of socialism. The League of the Scarlet Pimpernel, a
secret libertarian society, rescues eurozone libertarians from the daily
executions of the Reign of Socialistic Terror. Legendary Scarlet Pimpernel took
his nickname from the drawing of a small red flower with which he signs his
messages. Scarlet Pimpernel helps corporations move out of eurozone.

It looks like the Greek timebomb can be defused with a new haircut, but the
French timebomb cannot be defused. France is a time-bomb at the heart of Europe,
the biggest danger to eurozone. France has many weaknesses, laid bare by the
eurocrisis. For years it has been losing competitiveness to Germany and the
trend has accelerated as the Germans have cut costs and pushed through big
reforms.

OSI, official sector involvement in debt haircuts, is the secret objective of
Samaras and Venizelos, Laurel and Hardy of Greek politics. PSI, private sector
involvement, was psychotic. Now, OSI is ossification of Graecokleptocracy,
rewarding and perpetuating political corruption. Osification brings
ossification! Nevertheless, Samaras and Venizelos managed to hoodwink Jens
Weidmann. 

Weidmann says: I regard as an open question whether the need for a haircut in
Greek debt arises. One can pose the question whether the leap of faith that you
give with a haircut sets the right incentives or whether it would not make sense
to set a haircut, which one will need in the end to regain capital market
access, as a perspective for when the reforms have been implemented. I can do a
debt writedown today but if the budget, the deficit are not sustainable, I will
be in the same situation again in 10 years time as today and that certainly
would not make sense.

Weidmann accepts that Greece is a special basket case, as political corruptionn
can never be cured. Greek debt differs from that of other nations, because it’s
not due to spending, but robbing! Graecokleptocrats got huge kickbacks from
overpriced purchases of public equipment and contracts and by churning the state
insurance funds. If this is not robbing, what is it? When politicians of other
nations were trying to do things for their citizens, Graecokleptocrats were
trying to fatten their secret offshore accounts, protected by parliamentary
immunity. Graecokleptocrats rob Peter not to give Paul, but to themselves!

That’s why the Greek workers are on strike. They resent paying the huge Greek
debt created by Graecokleptocrats. It’s not fair to tax and reduce the salaries
and benefits of workers to make up for the money stolen by Graecokleptocrats. 
The fairest action would be for Graecokleptocrats to return the stolen money
back to the Greek treasury. Many Graecokleptocrats live like princes of Saudi
Arabia! Enough is enough, bring the money back!

Greece is becoming a Third World country! The government of Greece tortures hoi
polloi with huge taxation, 23% VAT, infinite bureaucracy, overcriminalization,
kangaroo justice, police brutality, cybercop barbarity, myriad licenses, myriad
applications, infinite queues, unbelievable political corruption, myriad bribes,
and infinite sadism. Only kith and kin of piggish Graecokleptocrats bypass this
torture. 
….
Without the option of currency devaluation, France has resorted to public
spending and debt. Even as other EU countries have curbed the reach of the
state, it has grown in France to consume almost 57% of GDP, the highest share in
the euro zone. Because of the failure to balance a single budget since 1981,
public debt has risen from 22% of GDP then to over 90% now.

Weidmann says: When I look at the rate of spending in France, I do see there
that the finance minister is facing challenges but on the other hand one must
not forget that in comparison, for instance with Germany, France has a better
perspective for instance in terms of demography. I am confident that the French
government will meet the challenges it faces.

The business climate in France has severely worsened. French firms are burdened
by overly rigid labor and huge regulation, exceptionally high taxes and the euro
zone’s heaviest social charges on payrolls. New companies are rare. France has
fewer small and medium-sized enterprises, today’s engines of job growth, than
Germany, Italy, or UK. The economy is stagnant, may tip into recession this
quarter and will barely grow next year. Most French firms are uncompetitive and
the country’s bloated government is living beyond its means.

Marine Le Pen is the only hope of France now. Le Pen has a modern image which
appeals to many voters. Marine, the youngest of Jean-Marie’s three daughters,
took over the leadership of National Front in January 2011. The 43-year-old
lawyer is more flexible than her father. She is trying to modernize the party
and launch it in a libertarian direction. Le Pen reads the venitism blogspot
every single day. 

Hollande has acknowledged that France lacks competitiveness, and he hoodwinks to
reduce the burden of social charges on companies. Hollande pretends to make the
labor market more flexible. He even talks of the excessive size of the state,
hoodwinking to do better, while spending less.

Le Pen warns about the might of Fourth Reich. She declares that Frau Merkel and
her friends, Van Rompuy and Barroso are in the final stages of creating a
European Soviet Union. French are about to lose their status as a free nation.
Le Pen calls for the reintroduction of the Franc.

Hollande is half-hearted. He has already pushed through a string of leftish
measures, including a 75% top income-tax rate, increased taxes on companies,
wealth, capital gains and dividends, a higher minimum wage and a partial
rollback of a previously accepted rise in the pension age. Many entrepreneurs
are leaving France.

France is resolutely avoiding any debate on the future of Europe. Hollande was
badly burned in 2005 when voters rejected the EU constitutional treaty after his
party split down the middle. A repeat of that would pitch the single currency
into chaos.

Euroskepticism and the defense of French sovereignty remain central to the
National Front’s program. Marine wants France out of eurozone, and out of NATO.
The National Front continues to fight against the subversion of the country at
the hands of Muslims. 

Unless Hollande shows that he is genuinely committed to changing the path his
country has been on for the past thirty years, France will lose the faith of
investors and Germans. Sentiment in the markets can shift quickly. The crisis
could hit as early as next year. Hollande does not have long to defuse the
time-bomb at the heart of Europe.

National Front is a massive protest party. Marine Le Pen makes herself out to be
the defender of freedom, the separation of church and state, and the values of
the French republic. Marine Le Pen speaks to all parts of society – not just the
frustrated, elderly and poor, but also industrial and service-sector workers.

France-Fourth Reich relations have become increasingly similar to the Ballet de
la Merlaison, created by Louis XIII of France in the 17th century. In this
unique ballet, the king authored the work and played the leading role. All the
other roles in the ballet were considered extras, who eagerly danced to the tune
of the king. As long as the king was still alive, this ballet was considered to
be the work of a genius. Hollande, who loves the Ballet de la Merlaison, asserts
France should play the leading role in Fourth Reich. But we all know that
France and all countries of Fourth Reich have become colonies of
Germany! Well, France is now the leading colony of Germany!

Hollande and Merkel are engaged in a waltz-hesitation. It’s an endless back and
forth that must often seem, to its anxious audience, deliberately designed to
confuse. That audience consists of the fifteen other members of the monetary union and, worse still, the teetering financial markets. Hollande and Merkel need to have the courage to measure themselves against the great figures of European politics, such as Charles de Gaulle and Konrad Adenauer.

from http://venitism.blogspot.gr/2012/11/greek-and-french-timebombs.html

related posts here

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