We're all saved, Brussels has done it

[suityou01]

This 3 page dossier covers all aspects of the EU bailout

There is absolutely no meat in this document at all

Good old tyler durden at zerohedge sums it up nicely when he says

Fresh from the European Council presses comes the complete 3 whopping page statement to bailout the Eurozone (not to be confused with Hank Paulson's 3 page TARP termsheet). There is nothing at all here, but for those who need a paperweight, feel free to print 200 copies and staple them together or something.

He goes on to say

Don't anyone say Italy is not willing to tackle austerity with the determination of a rabid dog: retirement age to be raised by 2 years in 15 years, and an epic €5 billion to be raised from privatizations.

and is clearly totally nonplussed when he says

In other news, there will be absolutely nothing actionable following today's "ground-breaking" summit. There will also be nothing at all after the Cannes statement. Or any time after. Why? Simple - there is nothing that Europe can propose in a universe in which 2+2=4 that resolves its problems.

and in other news

Germany is Already Printing Money… Deutsche Marks!!!

So… by now everyone realizes that the Euro is in major trouble and will no longer exist in its current form for much longer. However, the common view is that it is Greece and possibly other PIIGS countries who will be forced out if the Eurozone is broken up.



But few are talking about another possibility… GERMANY leaving the EU.



One who is talking about this is Dr Pippa Malmgren, a former economic advisor to George W. Bush and a former advisor to Deutsche Bank. According to Malmgren, Germany has already ordered the printing of Deutsche Marks in anticipation of a possible withdrawal from the EU.

Now, are all you dirty spekulants placing your spreadbets for LSE opening tomorrow?

[MarillionFan]

This 3 page dossier covers all aspects of the EU bailout

There is absolutely no meat in this document at all

Did you write it?

[suityou01]

Did you write it?

[darmstadt]

Right, Dr Pippa Malmgren, an advisor to Deutsche Bank and was also and advisor to the US government on bank regulation. Kind of go hand in hand don't they? These people live in cloud cuckoo land and spit platitudes from their fevered and febrile imagination.

[darmstadt]

Tyler Durden:

Fight Club was the beginning, now it's moved out of the basement, it's called Project Mayhem.

Or have I got the wrong one?

[TimberWolf]

So they haven't found a way to get Britain to foot the bill yet then.

[keninparis]

So they haven't found a way to get Britain to foot the bill yet then.

No one is saved Suity, euro is toast - don't believe the politics. UK should be okay, good decision not to join.

[Doggy Styles]

Bailouts just throw good money after bad. When that's used up we'll have the same problem again, and then what?

[TimberWolf]

Isn't it about time we stopped looking for solutions and found someone to blame? Who was it? Who can we point at? Who has the red face?

Was it Gordon Brown, Bill Clinton, or someone in euroland?

Saying that, many of us predicted this would be the consequence of a global economy. The story being told to us at the time was that it isn't a zero sum game and we would all be better off, moving into higher value jobs etc. It was the age of spin.

[TimberWolf]

Why don't they call Gordon Brown into the meeting, after all he did save the world (twice). He's been quiet lately.