Chief among the causes of the slide of last Friday, according to Le Monde, are Paul Volcker, economic adviser to US president Obama, and the story that president Sarkozy threatened to pull France out of the euro-zone if Germany would not go along with the rescue plan as proposed last weekend. Paul Volcker last Friday openly speculated about a 'disintegration' of the euro-zone. This speculation was given a firm boost after the story broke about Sarkozy blackmailing Germany's Angela Merkel, a story Le Monde says has been officially denied.
DDS reminds us of those Europhiles that were so entirely sure they knew everything better and rammed the euro through the throats of a Dutch population that didn't want any of it, sidelining fundamental democratic procedure and accountability in the process. And notes the conspicuous silence with which this self-styled 'elite' is cloaking itself now that 'the most dreadful currency in history' (according to DDS, but I can only agree) is failing so spectacularly.
Meanwhile, in Belgium former PM Yves Leterme told the Belgian Sunday current events program 'De Zevende Dag' that European leaders should shut up about the euro's miseries (NL).
European leaders like German Chancellor Angela Merkel should stop casting doubt on the European rescue plan for ailing euro countries. This was said by outgoing prime-minister Yves Leterme in the vrt-program De Zevende Dag. "Agreements have been made to defend the euro. That was a historic turning point. The debate should now be ended. We must not raise any more doubt about the plan, as Mrs Merkel did," said Leterme.According to Spitsnieuws (NL) he even went so far as to remind viewers of the program that in earlier days members of parliament could be lawfully prosecuted for discrediting the Belgian franc. Something he evidently wants reinstated for those euro-nonbelievers: Shut up and do not doubt our manifest wisdom. And of you don't we will prosecute you and throw you in jail, or something to that effect.
Merkel said Friday that the success of the European rescue plan is not guaranteed. This had an immediate deleterious impact on the stock and the rate of the euro. Leterme also referred to statements by chief executive Josef Ackermann of Deutsche Bank and "indiscretions from Paris.
Now you tell me, dear reader: Does this sound like a leadership firmly in control of a beneficial crisis?
[UPDATE001] Is has has already begun: Protesters attempt to storm Irish parliament
Protesters angry at Ireland's multi-billion efforts to bail out its banks have tried to storm the entrance of the Irish parliament and several have been injured in scuffles with police. (...)Note the date on that piece: Last Tuesday! Evidently the Dutch MSM would rather you didn't know about it.
Richard Boyd Barrett, of the People Before Profit Alliance, said there had to be a movement of opposition to the Government. "They (the Government) are bailing out the banks and the institutions and the elite that caused the crisis and they are asking ordinary people, senior citizens, young people to pay the price with brutal cutbacks and it's just not acceptable and people are here to say we're going to stop this and we want an alternative," he said.
[UPDATE002] Related reading: Why the Euro Is Doomed.