Eurozone Coup d'Etat
The “Eurozone Coup d’Etat” Пише: GEAB петак, 21 мај 2010 16:05
(GEAB, 16.5.2010)
Global systemic crisis – From "Eurozone Coup d’Etat" to the tragic solitude of the United Kingdom, the pace of global geopolitical dislocation accelerates
Just as anticipated by LEAP/E2020 in issues N°40 (December 2009) and N°42 (February 2010), spring 2010 really marks a tipping point of the global systemic crisis, characterized by a sudden expansion due to the intolerable size of public deficits (see issue N° 39 , November 2009) and the inexistence of the recovery, so often announced (see issue N°37 , September 2009). Besides, the dramatic social and political consequences of this development clearly reflect the beginning of the process of global geopolitical dislocation as anticipated in issue N°32 (February 2009).
Finally, the Eurozone leaders’ recent decisions confirm LEAP/E2020’s anticipations, contrary to the dominant chatter of these last few months, of the fact that not only will the Euro not “explode” because of the Greek problem but, on the contrary, a strengthened Eurozone will emerge from this stage of the crisis [1] . One could even consider that, since the Eurozone decision, a kind of “Eurozone coup d’Etat” supported by Sweden and Poland, to create a huge apparatus to protect the interests of the 26 EU member states [2] , the geopolitical deal in Europe has changed radically. Because it runs contrary to the prejudices which fashion their vision of the world, several months will be needed by the majority of the media and players to accept that, behind the appearance of a purely European budgetary-financial decision, lies a geopolitical split with worldwide impact.
1/2
The “Eurozone Coup d’Etat” Пише: GEAB петак, 21 мај 2010 16:05
green: comparative Current % increases of debt figures to in GDP for national Germany) /Hungary, in red: debt forecast -indeed Source: for the debt USA, European increase United Commission, for Kingdom, 2009 and Euroland 2010 2010 /direct and in yellow: Japan (in Eurozone coup d’Etat in Brussels: The EU founding states regain In world worsening tools themselves of this negotiating two apparatus and from issue most instruments crisis, what isolated. N°45, important their put could the into Eurozone we sixteen Ten which place be analyse of out called them, leave by have of entry, in the the the Sweden detail no Eurozone eleven like Eurozone other the Estonia taken other numerous choice Poland, (the control from member for d’Etat” 2011 who the consequences of eight other states the have within are members chosen have currently the for decided EU. of to Europeans but power, In actively either the to to follow face creating follow, in participate the and of or course such the for find new the as in [3] Eurozone, has rapidly election few hours, clearly the unfold character had like neither anticipated taken in Lithuania, the (EU with place. Eurozone control for such However, over boldness taken once three Romania, we the by years as would the German to Eurozone and the for never we amount regional example…). had have even (750 elections thought billion stated ItEU ,the or is a receiving that and Euros, (r)evolution recently itacontrol the would or British that one happen that events trillion help general our from in team USD) would just a [4] a leap ahead in terms of economic and financial integration). The Europeans the problems decisions European and without continental Second Euro, its fact causes. doubt, World remains and posed taken public governance have of a War, LEAP/E2020 during radical in which debt just that the moreover joined without crisis context the all unraveling has now Summit can awithin just will knowing new celebrated share of be brutally roll the country, of of evaluated out the global European the it, emerged, its indebtedness and weekend with Euroland, own systemic without differently a“coup governance big analyses ironically of display crisis. having of the and according which 8th on the in The 65 has asked the May Moscow some years joint budgetary subject just in to their means terms already taken one’s after the opinion, in the same and this of place: analysis to share asolve end issue financial response day 440 a of the collective the of N°45 the million the currency, serious to crisis the [5] holiday celebrating the creation of as Coal and Steel Community ,European the common ancestor of the EU and Euroland. This simultaneity isn’t coincidence [6] new undertaken constitutes, next Kingdom financial marks global storms and an balances. to at caused markets. then important grasp the one by its Under This and United draconian independence step 750 the the forward States same billion pressure Western (cf. time, in Euros with global of the indebtedness, regard and events putting geopolitical this to set new the in off place Anglo-Saxon European and by dislocation the which of the crisis, governance will fortifications and world the affect the Eurozone still reconstitution the expressed (of against United has 26) the thus via of issue N°44 causing disturbances of which the “Greek crisis” has only given awide small preview. The the Europeans EMF will, in the long run, deprive the IMF of 50% of its major contributions: those of Concerning oblivious of for this, many LEAP/E2020 weeks. Contrary reminds to readers the prevailing of aother fact discussion, that the majority of the media has been the foremost European money IMF is first and by European Our integration Monetary guess of rebalancing In 50% the effect team already USA at one Fund, is least. decisions of (their convinced the the out that BRIC That the intervention share of this EU of three will share these that, reduction will has allow IMF reduce and, been last fund Dollars in few in cut three IMF created its the the days in contribution isto European same half years contributed become is on in that breath, the at 50 the itan contribution years) 8th more to will by latest, the requiring and not Europeans, globally IMF and 9th be when one by May (UK a representative itreins of case similar excluded) USA 2010 is compared the time for to consequences into proportion. to very abandon the formalize will to much by European be only automatically its in One longer. one the the right of the could order inbut, six [7] .veto created changes the implications people But European decision that who its which will own knew of makers equally decisions their will emergency what scale decisions. involved contribute they of out the intervention were in in beginning But all to the doing. of itthe no-one “Eurozone becoming the fund. coming of has May It heavily ever coup is 2010 years. said d’Etat” example are marginalized In that fact, full have history of which itthe is clearly unlikely since was illustrates sweeping understood largely Asia that has just the geopolitical made already how majority the by many those of of
Bank Countries’ -ifBritish 2001 and markets’ IMF contributions (1948-2001) -the IMF /to Danmarks National The Kingdom: isolated in the face of an historic crisis One marginalization crisis, without This leaders of greater decades Indeed, Britain collide years. 8th/9th measures, the loss of British along The with a the May concessions, clarity are even little of of the simultaneous irony this diatribe trapped influence 2010: with political more ifand than British their of public of that the in day-by-day, the history accusing in leaders refusing parties, of reinforces, leaders United Euroscepticism a other the its denial causes was, US march were Europe not to have, Kingdom. sponsor, of even once in and even reality aware forward return, de parties for when consequences again, which at facto, has which all Its of this Great of the in increasing clearly created of they the point refused the they the world ills folly European Eurozone’s have Britain’s and country, the shown have of the of crisis to abudget weakness Liberal dressing-up this fostered catch strategy possibility made during marginalization has development could project joint Democrats, the moved their over consisting since this consider last defensive of by the people the avery historic the lifeline up Euro complete the course is a continental even because reconsidering beginning the of gear, share for and within weekend isolating complete all though of takeover, protective they as the their British well. countries. of will losses. past Great of showing grasp the the None 8]nor [ The European which their continent country needs will to content balance itself this with year’s watching them try find the 200 billion [9] .Euros Pound And sterling the leaders and selling in London Gilts, think itparticipate is that because City speculators they haven’t will understood have any qualms the basics breaking of global the [10] ,finance checked the nationalities of these same players [11] ask another), and common because weeks country Between the aUnited European from Swiss will the currency Washington, have now, major market Street, continent discovered we and English will what which debt, move which players itand the the thinks is will on knocking dice historic has, do to have of anything the have from the British trap not itself war been now yet into to that out tragedy on, attract realised cast. which to world placed hover At the because, the this markets that world’s itself up country, stage, they all under the are are capital we on world’s currently summer, caught the are its (one own, protection still available in delivering only in the has a the trap; whole fallen. of drama, savings, a athe few one to So, hung which at parliament, will take moment the compelling country when Euroland to itpolitical anow to further move emerges election on to in the Brussels, between first coalition now United and government the Kingdom end of since the struggles year. and with unthinkable” their leaders in trouble, who going to have to “think the Whatever highly the issues), each unlike between two party unlikely the parties combined now the Liberal and, supporters that involved then, Democrats, the with this to end alliance unpopular (Conservatives a of government of the they will coalition year decisions, have last collapse. more and sufficient now Liberal is than running leading The funds aof Democrats few Conservatives the this to months. country “finance” team are The may divided will a new tell, play to different LEAP/E2020 electoral on internal this asuch number card structure crises campaign because, thinks of for of [12] is “think “relationship”, centuries, United then impotence... If Conservatives, Great Nick intellectual: logically, the Britain, Clegg Kingdom unthinkable”, itWall has and seems sadly, to its considering nor thought avoid has relationship draw the must intellectually always the British i.e. of take current tragedy necessary reconsider the thought with leaders the continent equipped a events, “tragic” which continent that conclusions, altogether, its as portends, its basic it.level path But to a must power disunion. now make beliefs the now seem on i.e. depended the most such admit on that United However mature dangerous its road aSource: itas leap, that insular too on Kingdom to enough should a itstraight the neither complete is divided outlook, underlying problem heading yet. make is David going European integration, In its to set a transatlantic Cameron’s stumbling-block “quantum a to is state have simple: a continent, case, while, of to leap”. the for [13] In into any the case, Second this World weekend War the its 8th/9th consequences May 2010 in Europe dips a number of its roots directly [14] systemic crisis as foretold by LEAP/E2020 in February .currencies It is, besides, 2006 in one of the features of the issue N°2 :global itThe brings to “an end the West as one has known itare since 1945”. Another especially), of these in the features face of the is the growing take-off distrust in the in gold all fiat price (compared (see to the US Dollar issue N°41 2010 ,needs January [15] Indeed, historically US climb currency’s back whilst lowest to its all structural medium-term the levels world weakness. compared speak equilibrium of to In the its Euro/US major coming trade of Dollar above months, partners exchange 1.45/€. (see GEAB rate, chart anticipated, the below), Dollar a1945 the remains sign Euro of the will atifa )..ita In LEAP/E2020 vast and Thus other with this externally afocused the Western touch issue, United of before news will at countries, humour, States avoiding analyse operation giving maintains called whilst, in panicking our greater aimed recommendations his in that excellent fact, detail at foreign itthe re-starting the will the recovery article be investors US able on household pseudo-recovery to currencies, is 27.4.2010, (at escape an best, “unrecovery” spending brutal several the published which stock austerity (an quarters as internally exchange impossible Michael in treatment, can Panzner, is be and basically task gained). like gold, now) the Seeking Alpha .its
compared 04/2010 Dollar Index to eight against major major currencies trade partners -so Source: and BCA the index Research, of cumulated Bloomberg, Dollar JP highs Morgan and Chase, lows Global Europe Anticipation Bulletin ,market Public announcement GEAB N°45 (May 16, 2010) 13.5.2010 advantage 2010). more have this Source: endorse act Only «diktat» its 8th devalue «markets», affected impoverishment currencies country austerity to the which small Europeans United be will players wanting over of increasing is Minister Will crisis London ,out just [1] AP/NDTV [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] he [14] Exchequer Telegraph [15] 12.5.2010 aa reduce accept re-establish the influence untrue. alone Independent affect collapse part sixteen and economic European British growing necessary installed The Not Source: On And that crisis, country the the It Source: And As to questions step change, French isThe Kingdom States. will the this can cheaply. grapple, 9th became of that to for but one’s only suffice? by strong United final Paul a the next that’s CNBC United measures, that and the we even sign taken leaders it’s AIG Source: power show which, be for next heads made 9th the 200 that May. subject, make without becoming hadn’t decisions risk. of Moscow the RFI Bretton there decision won’t United year. country’s Mason Financial media exactly a so socio-economic very DailyMail Eurozone currency tens healthy not read the in of May devaluation; relative beyond, ,a key years is Kingdom, few of looks its by first on the Nothing The 11.5.010 Kingdom leave ,Ifto the world in all of to 05/09/2010 because with system the interesting to one started Source: of even authority the its being on Scotland, player 2010, is the LEAP/E2020 amonths world’s and Kingdom state say Woods ATM the quite weeks process would times, provide the billions and system will undertaken more of public country more own, the Le qualities this trade weakness Markets United has «at order ,IMF since exports difference. linger external the parroted 05/04/2010 is opposite. be able as and Figaro dispensing the is George itself. rightly to could eleven subject. will» less ato have financial from on the and and will in Project Eurozone de by finances deficit taken a collapse. which Frenchman a established of currently to David Wales 27 and, model. make Kingdom government and 2010: to on reflex the bit announcing facto Emirates Authority not certain see is freely To follow more and, months more be Telegraph the ,emphasized European oppose had forces wants of by other the collectively of 11.5.2010 not Osborne other its On when in (as are take seen ,Cameron this a the and technical summer the more action 19.3.2008 positioned on July 10 Facing anything growing whilst, like comparison at circulating disunited the dangerously summit taking abecause really countries in Euro to whose deterioration the to hand, gram majority all matter itfor Ulster. Palace, itsaid and nearly 2010. Lehman the one hostilities debunk than comes of come? as ,finance a and (38) that analogy place. contrary, over 12.5.2010 at the a the compared sign of with place former in direction it(at emergence reliance expertise gold which, hand, these to small the last 30% would in of 2010. following because outside his four Tim itSource: the GEAB Eurozone, capital, of Eurozone, 43 the do four without to wishes public, the of with fact, the Maybe Brothers, same bars ministers thought in economists: weakened youngest BBC with years bonds, Luckhurst’s a hundred independence of Minister devaluations these most part become the once hundred objective the Even have monetary step on the of the readers this and to instead can the time, of any France24 namely successive previous to of the Eurozone its article of itthe old) luxurious 2008 total, US devaluations again further, are the its been unlike will break the failing protection. some the support City, partners decisions were buy for historic protection years more US own and retaining years? trade is IMF the of know be major of the "English fairy banking against article European of Jean-Pierre the handicaps able the allowing Dollar inevitably up shares, indeed day, tens which notes. necessary which 11.5.2010 interests ask Chancellor ,political nor ago, is Financial pronounced. fact which hotel 12.5.2010 deficit of youngest "devolutions" «family crisis tale the that coalition with only contribution Source: to taken For of a yourself had the from of are barely constitutes when do system the question» system giant useful finished Source: which in 05/09/2010 summonsed we billions the imposes the a being with affairs, increased our crisis, major brought aAbu American lead of imposed secondary Eurozone jewels» in the believe Jouyet, Times to market year strongest size in states of British the team, for 15% Brussels which who is tool go crisis, Dhabi, financial power which able Source: to the of by refused balances circulating the that 125 City people which of ago, and strong at an Euros a together to for will causing repeats of affected that reaction the President itby in banks Prime to huge itthe attempts get to ityears. would the of is CNBC refuses the openly will player seek before has March play the must on give one the crisis. core the in out of the in T,
2/2
(GEAB, 16.5.2010)
Global systemic crisis – From "Eurozone Coup d’Etat" to the tragic solitude of the United Kingdom, the pace of global geopolitical dislocation accelerates
Just as anticipated by LEAP/E2020 in issues N°40 (December 2009) and N°42 (February 2010), spring 2010 really marks a tipping point of the global systemic crisis, characterized by a sudden expansion due to the intolerable size of public deficits (see issue N° 39 , November 2009) and the inexistence of the recovery, so often announced (see issue N°37 , September 2009). Besides, the dramatic social and political consequences of this development clearly reflect the beginning of the process of global geopolitical dislocation as anticipated in issue N°32 (February 2009).
Finally, the Eurozone leaders’ recent decisions confirm LEAP/E2020’s anticipations, contrary to the dominant chatter of these last few months, of the fact that not only will the Euro not “explode” because of the Greek problem but, on the contrary, a strengthened Eurozone will emerge from this stage of the crisis [1] . One could even consider that, since the Eurozone decision, a kind of “Eurozone coup d’Etat” supported by Sweden and Poland, to create a huge apparatus to protect the interests of the 26 EU member states [2] , the geopolitical deal in Europe has changed radically. Because it runs contrary to the prejudices which fashion their vision of the world, several months will be needed by the majority of the media and players to accept that, behind the appearance of a purely European budgetary-financial decision, lies a geopolitical split with worldwide impact.
1/2
The “Eurozone Coup d’Etat” Пише: GEAB петак, 21 мај 2010 16:05
green: comparative Current % increases of debt figures to in GDP for national Germany) /Hungary, in red: debt forecast -indeed Source: for the debt USA, European increase United Commission, for Kingdom, 2009 and Euroland 2010 2010 /direct and in yellow: Japan (in Eurozone coup d’Etat in Brussels: The EU founding states regain In world worsening tools themselves of this negotiating two apparatus and from issue most instruments crisis, what isolated. N°45, important their put could the into Eurozone we sixteen Ten which place be analyse of out called them, leave by have of entry, in the the the Sweden detail no Eurozone eleven like Eurozone other the Estonia taken other numerous choice Poland, (the control from member for d’Etat” 2011 who the consequences of eight other states the have within are members chosen have currently the for decided EU. of to Europeans but power, In actively either the to to follow face creating follow, in participate the and of or course such the for find new the as in [3] Eurozone, has rapidly election few hours, clearly the unfold character had like neither anticipated taken in Lithuania, the (EU with place. Eurozone control for such However, over boldness taken once three Romania, we the by years as would the German to Eurozone and the for never we amount regional example…). had have even (750 elections thought billion stated ItEU ,the or is a receiving that and Euros, (r)evolution recently itacontrol the would or British that one happen that events trillion help general our from in team USD) would just a [4] a leap ahead in terms of economic and financial integration). The Europeans the problems decisions European and without continental Second Euro, its fact causes. doubt, World remains and posed taken public governance have of a War, LEAP/E2020 during radical in which debt just that the moreover joined without crisis context the all unraveling has now Summit can awithin just will knowing new celebrated share of be brutally roll the country, of of evaluated out the global European the it, emerged, its indebtedness and weekend with Euroland, own systemic without differently a“coup governance big analyses ironically of display crisis. having of the and according which 8th on the in The 65 has asked the May Moscow some years joint budgetary subject just in to their means terms already taken one’s after the opinion, in the same and this of place: analysis to share asolve end issue financial response day 440 a of the collective the of N°45 the million the currency, serious to crisis the [5] holiday celebrating the creation of as Coal and Steel Community ,European the common ancestor of the EU and Euroland. This simultaneity isn’t coincidence [6] new undertaken constitutes, next Kingdom financial marks global storms and an balances. to at caused markets. then important grasp the one by its Under This and United draconian independence step 750 the the forward States same billion pressure Western (cf. time, in Euros with global of the indebtedness, regard and events putting geopolitical this to set new the in off place Anglo-Saxon European and by dislocation the which of the crisis, governance will fortifications and world the affect the Eurozone still reconstitution the expressed (of against United has 26) the thus via of issue N°44 causing disturbances of which the “Greek crisis” has only given awide small preview. The the Europeans EMF will, in the long run, deprive the IMF of 50% of its major contributions: those of Concerning oblivious of for this, many LEAP/E2020 weeks. Contrary reminds to readers the prevailing of aother fact discussion, that the majority of the media has been the foremost European money IMF is first and by European Our integration Monetary guess of rebalancing In 50% the effect team already USA at one Fund, is least. decisions of (their convinced the the out that BRIC That the intervention share of this EU of three will share these that, reduction will has allow IMF reduce and, been last fund Dollars in few in cut three IMF created its the the days in contribution isto European same half years contributed become is on in that breath, the at 50 the itan contribution years) 8th more to will by latest, the requiring and not Europeans, globally IMF and 9th be when one by May (UK a representative itreins of case similar excluded) USA 2010 is compared the time for to consequences into proportion. to very abandon the formalize will to much by European be only automatically its in One longer. one the the right of the could order inbut, six [7] .veto created changes the implications people But European decision that who its which will own knew of makers equally decisions their will emergency what scale decisions. involved contribute they of out the intervention were in in beginning But all to the doing. of itthe no-one “Eurozone becoming the fund. coming of has May It heavily ever coup is 2010 years. said d’Etat” example are marginalized In that fact, full have history of which itthe is clearly unlikely since was illustrates sweeping understood largely Asia that has just the geopolitical made already how majority the by many those of of
Bank Countries’ -ifBritish 2001 and markets’ IMF contributions (1948-2001) -the IMF /to Danmarks National The Kingdom: isolated in the face of an historic crisis One marginalization crisis, without This leaders of greater decades Indeed, Britain collide years. 8th/9th measures, the loss of British along The with a the May concessions, clarity are even little of of the simultaneous irony this diatribe trapped influence 2010: with political more ifand than British their of public of that the in day-by-day, the history accusing in leaders refusing parties, of reinforces, leaders United Euroscepticism a other the its denial causes was, US march were Europe not to have, Kingdom. sponsor, of even once in and even reality aware forward return, de parties for when consequences again, which at facto, has which all Its of this Great of the in increasing clearly created of they the point refused the they the world ills folly European Eurozone’s have Britain’s and country, the shown have of the of crisis to abudget weakness Liberal dressing-up this fostered catch strategy possibility made during marginalization has development could project joint Democrats, the moved their over consisting since this consider last defensive of by the people the avery historic the lifeline up Euro complete the course is a continental even because reconsidering beginning the of gear, share for and within weekend isolating complete all though of takeover, protective they as the their British well. countries. of will losses. past Great of showing grasp the the None 8]nor [ The European which their continent country needs will to content balance itself this with year’s watching them try find the 200 billion [9] .Euros Pound And sterling the leaders and selling in London Gilts, think itparticipate is that because City speculators they haven’t will understood have any qualms the basics breaking of global the [10] ,finance checked the nationalities of these same players [11] ask another), and common because weeks country Between the aUnited European from Swiss will the currency Washington, have now, major market Street, continent discovered we and English will what which debt, move which players itand the the thinks is will on knocking dice historic has, do to have of anything the have from the British trap not itself war been now yet into to that out tragedy on, attract realised cast. which to world placed hover At the because, the this markets that world’s itself up country, stage, they all under the are are capital we on world’s currently summer, caught the are its (one own, protection still available in delivering only in the has a the trap; whole fallen. of drama, savings, a athe few one to So, hung which at parliament, will take moment the compelling country when Euroland to itpolitical anow to further move emerges election on to in the Brussels, between first coalition now United and government the Kingdom end of since the struggles year. and with unthinkable” their leaders in trouble, who going to have to “think the Whatever highly the issues), each unlike between two party unlikely the parties combined now the Liberal and, supporters that involved then, Democrats, the with this to end alliance unpopular (Conservatives a of government of the they will coalition year decisions, have last collapse. more and sufficient now Liberal is than running leading The funds aof Democrats few Conservatives the this to months. country “finance” team are The may divided will a new tell, play to different LEAP/E2020 electoral on internal this asuch number card structure crises campaign because, thinks of for of [12] is “think “relationship”, centuries, United then impotence... If Conservatives, Great Nick intellectual: logically, the Britain, Clegg Kingdom unthinkable”, itWall has and seems sadly, to its considering nor thought avoid has relationship draw the must intellectually always the British i.e. of take current tragedy necessary reconsider the thought with leaders the continent equipped a events, “tragic” which continent that conclusions, altogether, its as portends, its basic it.level path But to a must power disunion. now make beliefs the now seem on i.e. depended the most such admit on that United However mature dangerous its road aSource: itas leap, that insular too on Kingdom to enough should a itstraight the neither complete is divided outlook, underlying problem heading yet. make is David going European integration, In its to set a transatlantic Cameron’s stumbling-block “quantum a to is state have simple: a continent, case, while, of to leap”. the for [13] In into any the case, Second this World weekend War the its 8th/9th consequences May 2010 in Europe dips a number of its roots directly [14] systemic crisis as foretold by LEAP/E2020 in February .currencies It is, besides, 2006 in one of the features of the issue N°2 :global itThe brings to “an end the West as one has known itare since 1945”. Another especially), of these in the features face of the is the growing take-off distrust in the in gold all fiat price (compared (see to the US Dollar issue N°41 2010 ,needs January [15] Indeed, historically US climb currency’s back whilst lowest to its all structural medium-term the levels world weakness. compared speak equilibrium of to In the its Euro/US major coming trade of Dollar above months, partners exchange 1.45/€. (see GEAB rate, chart anticipated, the below), Dollar a1945 the remains sign Euro of the will atifa )..ita In LEAP/E2020 vast and Thus other with this externally afocused the Western touch issue, United of before news will at countries, humour, States avoiding analyse operation giving maintains called whilst, in panicking our greater aimed recommendations his in that excellent fact, detail at foreign itthe re-starting the will the recovery article be investors US able on household pseudo-recovery to currencies, is 27.4.2010, (at escape an best, “unrecovery” spending brutal several the published which stock austerity (an quarters as internally exchange impossible Michael in treatment, can Panzner, is be and basically task gained). like gold, now) the Seeking Alpha .its
compared 04/2010 Dollar Index to eight against major major currencies trade partners -so Source: and BCA the index Research, of cumulated Bloomberg, Dollar JP highs Morgan and Chase, lows Global Europe Anticipation Bulletin ,market Public announcement GEAB N°45 (May 16, 2010) 13.5.2010 advantage 2010). more have this Source: endorse act Only «diktat» its 8th devalue «markets», affected impoverishment currencies country austerity to the which small Europeans United be will players wanting over of increasing is Minister Will crisis London ,out just [1] AP/NDTV [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] he [14] Exchequer Telegraph [15] 12.5.2010 aa reduce accept re-establish the influence untrue. alone Independent affect collapse part sixteen and economic European British growing necessary installed The Not Source: On And that crisis, country the the It Source: And As to questions step change, French isThe Kingdom States. will the this can cheaply. grapple, 9th became of that to for but one’s only suffice? by strong United final Paul a the next that’s CNBC United measures, that and the we even sign taken leaders it’s AIG Source: power show which, be for next heads made 9th the 200 that May. subject, make without becoming hadn’t decisions risk. of Moscow the RFI Bretton there decision won’t United year. country’s Mason Financial media exactly a so socio-economic very DailyMail Eurozone currency tens healthy not read the in of May devaluation; relative beyond, ,a key years is Kingdom, few of looks its by first on the Nothing The 11.5.010 Kingdom leave ,Ifto the world in all of to 05/09/2010 because with system the interesting to one started Source: of even authority the its being on Scotland, player 2010, is the LEAP/E2020 amonths world’s and Kingdom state say Woods ATM the quite weeks process would times, provide the billions and system will undertaken more of public country more own, the Le qualities this trade weakness Markets United has «at order ,IMF since exports difference. linger external the parroted 05/04/2010 is opposite. be able as and Figaro dispensing the is George itself. rightly to could eleven subject. will» less ato have financial from on the and and will in Project Eurozone de by finances deficit taken a collapse. which Frenchman a established of currently to David Wales 27 and, model. make Kingdom government and 2010: to on reflex the bit announcing facto Emirates Authority not certain see is freely To follow more and, months more be Telegraph the ,emphasized European oppose had forces wants of by other the collectively of 11.5.2010 not Osborne other its On when in (as are take seen ,Cameron this a the and technical summer the more action 19.3.2008 positioned on July 10 Facing anything growing whilst, like comparison at circulating disunited the dangerously summit taking abecause really countries in Euro to whose deterioration the to hand, gram majority all matter itfor Ulster. Palace, itsaid and nearly 2010. Lehman the one hostilities debunk than comes of come? as ,finance a and (38) that analogy place. contrary, over 12.5.2010 at the a the compared sign of with place former in direction it(at emergence reliance expertise gold which, hand, these to small the last 30% would in of 2010. following because outside his four Tim itSource: the GEAB Eurozone, capital, of Eurozone, 43 the do four without to wishes public, the of with fact, the Maybe Brothers, same bars ministers thought in economists: weakened youngest BBC with years bonds, Luckhurst’s a hundred independence of Minister devaluations these most part become the once hundred objective the Even have monetary step on the of the readers this and to instead can the time, of any France24 namely successive previous to of the Eurozone its article of itthe old) luxurious 2008 total, US devaluations again further, are the its been unlike will break the failing protection. some the support City, partners decisions were buy for historic protection years more US own and retaining years? trade is IMF the of know be major of the "English fairy banking against article European of Jean-Pierre the handicaps able the allowing Dollar inevitably up shares, indeed day, tens which notes. necessary which 11.5.2010 interests ask Chancellor ,political nor ago, is Financial pronounced. fact which hotel 12.5.2010 deficit of youngest "devolutions" «family crisis tale the that coalition with only contribution Source: to taken For of a yourself had the from of are barely constitutes when do system the question» system giant useful finished Source: which in 05/09/2010 summonsed we billions the imposes the a being with affairs, increased our crisis, major brought aAbu American lead of imposed secondary Eurozone jewels» in the believe Jouyet, Times to market year strongest size in states of British the team, for 15% Brussels which who is tool go crisis, Dhabi, financial power which able Source: to the of by refused balances circulating the that 125 City people which of ago, and strong at an Euros a together to for will causing repeats of affected that reaction the President itby in banks Prime to huge itthe attempts get to ityears. would the of is CNBC refuses the openly will player seek before has March play the must on give one the crisis. core the in out of the in T,
2/2
