Advertisements

Brussels sees darker times for Spain and Europe

By LUIS MIRANDA | THE REAL AGENDA | NOVEMBER 6, 2012

Brussels sees no green grass across the fence when it comes to an economic recovery. The economic forecasts for 2013, which will be made public on Friday, will describe a dark and rainy future for Spain and most likely the rest of Europe.

Forecasts are just that, good or bad omens based on leading indicators. But it remains to be seen whether or not they are right. But if the predictions issued by Brussels become reality, that reality will mean serious trouble for Spain and the rest of Europe. The European Commission anticipates that the GDP falls 1.6% this year and 1.5% in 2013.

Spanish government forecasts were more hopeful before the statement from the EU with phrases such as “We emerge from the crisis” and “there are hopeful signs”. These phrases were issued by the Minister for Employment, Fatima Banez, who had said that Spain would see a contraction of 1.5% for this year and a decrease of 0, 5% for 2013.

Next to the real exit from the crisis, the troubling data made public by Brussels is the government’s deficit. The massive austerity measures adopted by Spain only helped reduce the deficit by a meager 0.2 %. The painful measures that combined tax increases with deep cuts in expenses related to social programs did not work; just as it was intended to. The deficit will end the year at 8%, according to the Commission, but this number does not take into account the effect of recapitalization of banks. Expect the Spanish deficit to be much larger.

For 2013, the fiscal gap is 6%, and 5.8% by 2014. These numbers again do not include the bailouts of the banking system and the possible bailout of Spain as a whole. As predicted months ago, Spain will not be able to lower its deficit to 3 % of the GDP, which is the target requested by Brussels. That leaves three possibilities. The first is to extend the deadlines to meet targets, which has been demanded by the International Monetary Fund (IMF) in Brussels. This alternative is now getting stronger and is supported by several countries that are hanging from the debt cliff.

The second is to ask Spain for additional efforts. That is, more austerity and spending cuts, which as it has been seen in Greece, would result in no solution whatsoever. Most economists expect that agreements reached during future meetings will include a combination of both austerity and an extension for Spain and the other countries to reach their deficit goals.

Spain’s Economy Minister Luis de Guindos, expected a deficit of 7.3% this year, 4.5% next year and 2.8% in 2014, far below the projections made by analysts and official data from both Brussels as the International Monetary Fund (IMF) for next year and the next.

The Commission did not comment yesterday on the data. Clearly on all forecasts, Brussels and the Spanish government, weigh several unknowns, especially those relating to the effect of the increase in VAT (a real social experiment, with the country in recession) and the tax amnesty.

However, the Vice President and Competition Commissioner Joaquin Almunia, gave some clues in Madrid yesterday about the situation: government budgets for 2013 and associated economic forecasts show the efforts being made by both sides — income and expenses — but the accompanying macroeconomic picture is “far from the consensus.”

Almunia also hinted that Brussels has the feeling that Spain has denied the complete evidence, the depth of the crisis and the need to act thoroughly. “The delayed reaction is too often associated with Spain,” he said. Speaking at the New Economy Forum, he called “giving in to defeatism” and explained that the crisis “has a solution, tha will be overcome and is beginning to be overcome.”

“Trees should not impede us all to see the forest,” said Almunia. But the trees are just too tall. Brussels projections that approximate the most to those of the Spanish government are related to public debt. And even in that section the figures speak for themselves: the debt will end this year at 83.7%, the next at 89.5% and will be at 93.9% of GDP by 2014.

One thing is for sure: there is no sign that shows when the debt will stop growing. Meanwhile, Europe continues to advance an agenda that keeps on using the same old recipe of more austerity, while government expenses continue to grow. As we have explained here in multiple occasions, both Spain and Europe are — intentionally — going through a vicious cycle that will not result in the reduction of the deficit or the rescue of the economies that are heavily burdened by debt.

The Real Agenda encourages the sharing of its original content ONLY through the tools provided at the bottom of every article. Please DON’T copy articles from The Real Agenda and redistribute by email or post to the web

Advertisements

International Banking Mafia Drools over ‘Spanish Prize’

By LUIS MIRANDA | THE REAL AGENDA | SEPTEMBER 19, 2012

The global banking cartel that almost daily proposes the destruction of the nations states is working harder than ever to once and for all conquer Spain. Even before the European Central Bank issued a statement about its openness to bail out Spain, technocrats in Europe were already proposing the looting of the country. Now that the ECB agreed to print million of euros to acquire the peninsular country, they are megaphoning louder than ever that Spain must immediately accept the bailout in order to solve its debt problem.

In previous reports, The Real Agenda reported how the unelected leaders in Brussels believe that Spain will not be able to comply with the conditions imposed by the bankers should Mariano Rajoy request the money from the European Stability Mechanism, which would turn such a request into an official hand over of the nation to the European bankers and nothing else. According to sources in Brussels, Spain does not have and will not have the capacity to cut its deficit by collecting taxes or reducing government spending. What these two actions would definitely do, is to harden even more the dire situation in which millions of Spanish people are now: unemployed, having to use their savings to pay for daily expenses and while looking at an uncertain future.

Proof of the tough conditions in Spain are two reports that circulated on the Spanish press yesterday. One news article on the newspaper La Vanguardia, told about how Spanish people withdrew over 30 billion euros from their bank accounts during the month of July alone. That is how much they trust their government to solve the economic and financial crisis. Those 30 billion euros added to the amount withdrawn last year for a total of 80 billion euros. The withdrawals include individual and business accounts.

The other report published on the newspaper El País describes how the conditions imposed on Spain — after the country requests the bailout — will be the toughest so far in the region. This comment did not come from a speculator, but from the president of the Eurogroup, Jean-Claude Juncker, who said that Spain will experience deep cuts in government spending, which most likely be applied to government services, pension system and entitlement programs. Juncker’s prediction contrasts the comments made last week by the Spanish Secretary of Economy, Luis de Guindos, who assured the nation that the measures adopted along with the bailout would not mean ‘further sacrifices’ in the 2013 government budget.

In summary, Spain will not be able to meet the conditions of the bankers. Those conditions will represent more sacrifices from the Spanish people, who do not have an ounce of trust on their government to take the nation from the debt hole where it is sitting now. However, the same government led by Mariano Rajoy is still considering requesting the bailout, perhaps being influenced by the European banking sharks who are calling for the immediate request of the funds by the Spanish bureaucrats.

“The announcement of the ECB was very brave on one hand, but will not help unless Spain or Italy request the support of an economic program of the EU and the IMF,” said Charles Dallara, the Director of the International Institute of Finances (IIF), while attempting to portray the bankers as the saviors of the European region. In this regard, he said that in the absence of a government negotiating a reform program that is supported by the European Commission, the “massive potential support” by the ECB will remain only potential and will not materialize.

Spain had already requested the bailout of its “too big to fail” banks, which were instructed to hoard the money to avoid the otherwise impending hyper-inflation. The same situation occurred in other countries of the Euro zone and the United States. This explains why despite government interventions through massive fiat money printing, nations on both sides of the Atlantic haven’t generated any significant economic activity. Neither small or medium size business have been able to request loans to run their businesses. Instead, the bankers have hid the money given in bailouts, or have used it to pay fat bonuses to their board members and most influential investors.

The Real Agenda encourages the sharing of its original content ONLY through the use of the tools provided at the bottom of every article. Please DON’T copy articles from The Real Agenda and redistribute by email or post to the web, unless you request and receive written permission to do so. If permission is granted, you must publish the article EXACTLY as it appears on The Real Agenda.

Líderes Europeus negociam como Colapsar a Europa

Herman van Rompuy pede menos soberania, para o resto dos Estados-nação.

POR LUIS MIRANDA | THE REAL AGENDA | 16 SETEMBRO 2012

Flashback: Herman van Rompuy, presidente da União Europeia: “Os Estados-nação homogéneos estão mortos.”

O colapso do euro e da União Europeia não é um resultado da crise financeira criada pelos banqueiros. Na verdade, a crise foi criada como uma forma de justificar a aquisição de Estados-nação independentes na Europa, América, África e Ásia.

Depois de ler o que Herman van Rompuy tem dito — sobre como acabar com os Estados — é claro que nenhum país sairá reforçado como resultado de qualquer ação tomada pela União Europeia, o Banco Central Europeu ou o FMI. Agora há uma luta dentro da hierarquia bancária, cujos membros estão discutindo qual é a melhor maneira de completar o colapso do sistema financeiro global, começando com a zona do euro e depois levando-o para as Américas.

O presidente da UE não tenha renunciado ao seu objetivo de destruir as nações e coloca-las sob o poder de órgãos de governo não eleitos. “O tempo dos Estados-nação homogêneos acabou”, disse Van Rompuy, acrescentando que “em todos os estados membros da União Europeia, há pessoas que acreditam que seu país pode sobreviver sozinho no mundo globalizado. É uma ilusão — é uma mentira.” A força desta declaração só pode vir de um homem quem por trás das cenas conhece todos os detalhes da implosão planejada do sistema financeiro global.

Desde a semana passada e durante o fim de semana, líderes europeus se reuniram para determinar a melhor maneira de destruir a zona euro, consolidando o poder sobre os estados independentes como fizeram com a Grécia. Depois que o Banco Central Europeu admitiu que compraria títulos soberanos de países endividados, o Fundo Monetário Internacional (FMI) lançou-se como um abutre financeiro descrevendo como a entidade acredita que deve ser o seu papel no mecanismo para destruir a economia europeia. Enquanto isso, o primeiro-ministro espanhol, Mariano Rajoy, que não aceitou formalmente as condições dadas pelo BCE, entrou em uma corrida para pedir condições mais suaves antes de entregar o seu país ao BCE e ao FMI.

“A decisão do BCE de fornecer fundos para a Espanha, praticamente força o país a buscar um segundo resgate”, disse o chefe do BCE Mario Draghi. O BCE já manifestou sua intenção de comprar quantidades ilimitadas de dívida da Espanha e outros países em necessidade, por isso espera-se que Rajoy não vai deixar passar a oportunidade de pedir um resgate completo. Diplomatas espanhóis têm ido para Bruxelas, Frankfurt, Washington e Madri para tentar negociar melhores condições antes que a Espanha solicite o resgate neste outono.

Mas de acordo com membros da elite em Bruxelas, nem mesmo um resgate será uma forte rede de segurança para a Espanha, porque é claro que o país não pode cumprir sua metas de redução do défice, devido à depressão econômica que ocorre em Europa e a falha do governo espanhol de aumentar sua renda. Assim, o resgate é nada mais do que uma cortina de fumaça para facilitar a entrega da Espanha a seus credores, os banqueiros europeus.

Enquanto isso, a chefe do FMI, Christine Lagarde, disse que a organização está interessada em jogar um papel na concepção e acompanhamento do plano do Banco Central Europeu para comprar títulos emitidos por governos da zona do euro. Lagarde destacou que as medidas recentemente anunciadas pelo Presidente do BCE, Mario Draghi, “pavimentam o caminho para a frente”, mas observou que a prioridade deve ser aplicada de uma forma coordenada. “Estamos prontos para ajudar na concepção e implementação de todos os programas que devem ser parte da solução”, disse Lagarde, que enfatizou que a sua instituição está disposta a participar “ativamente” na concepção e desenvolvimento do programa de compra de dívida dos países da zona do euro.

Tanto Herman van Rompuy, como o primeiro-ministro italiano Mario Monti tem chamado para uma reunião com outros líderes europeus para encontrar um terreno comum para “derrotar idéias populistas que tentam destruir o euro”, disse ele. “A integração da UE é um problema permanente”, disse Herman Van Rompuy, “mais uma vez enfrentando problemas econômicos e sociais (…) por isso, saúdo a idéia do presidente Monti de realizar uma reunião especial sobre futuro da unidade europeia “, disse Van Rompuy.

O Presidente explicou que a Comissão Europeia está consciente das críticas e oposições que existem no momento, mas destacou “os enormes esforços de todos os países e instituições da UE com solidariedade sem precedentes”. O Sr. van Rompuy provavelmente quer dizer  que há solidariedade com os banqueiros, não a favor da população europeia, que, apesar de sofrer as maiores taxas de desemprego da história recente, não tem apoio direto de líderes da UE . Na verdade, as primeiras iniciativas tomadas pelos governos da UE cortaram gastos de programas sociais, salários, pensões e outros programas que costumam aliviar a carga sobre a maioria do cidadão europeu médio.

Espanha deverá expandir sua campanha por melhores condições antes da aplicação de um plano de resgate durante a reunião de ministros das Finanças da UE. “Essa é uma conversa que não deverá ocorrer entre Espanha e do BCE, mas entre a Espanha e todos os membros da zona do euro,” disse Benoit Coeuré, diretor francês do BCE, em entrevista à France Inter.

Herman van Rompuy, não evitou as perguntas feitas na semana passada sobre o resultado dessas negociações. Van Rompuy disse que em dezembro será apresentado o projeto de uma nova arquitectura europeia. Este projeto será realizado pelo BCE e pela Comissão Europeia, e irá incluir quatro pilares interligados: um sindicato bancário, uma união fiscal, união económica e uma união política mais intensa.

Líderes Europeos Negocian cómo Colapsar Europa

Herman van Rompuy pide menos soberanía para el resto de los estados-nación.

POR LUIS MIRANDA | THE REAL AGENDA | 16 SEPTIEMBRE 2012

Flashback: Herman van Rompuy, presidente de la Unión Europea: “Los Estados-nación homogéneos están muertos”.

El colapso del euro y de la Unión Europea no es un resultado de la crisis financiera creada por los banqueros. De hecho, la crisis fue creada como una forma de justificar la adquisición de los estados nacionales independientes en Europa, América, África y Asia, entre otros.

Después de leer lo que Herman van Rompuy tiene  — para poner fin a los Estados — es claro que los países no se verán fortalecidos a raíz de cualquier medida adoptada por la UE, el Banco Central Europeo o el FMI. En estos momentos hay una lucha dentro de la jerarquía bancaria, cuyos miembros están discutiendo cuál es la mejor manera de colapsar el sistema financiero mundial, comenzando con la zona euro y extenderla más tarde a las Américas.

El presidente de la UE no ha renunciado a su objetivo de destruir a las naciones y someterlas al poder de órganos gubernamentales no electos. “El tiempo de los Estados-nación homogéneos ha terminado”, dijo van Rompuy, quien agregó que “en todos los estados miembros europeos, hay personas que creen que su país puede sobrevivir solo en el mundo globalizado. Es más que una ilusión — es una mentira.” La firmeza de esta sentencia sólo puede venir de un hombre que detrás de las escenas conoce todos los detalles de la implosión prevista del sistema financiero mundial.

Desde la semana pasada y durante el fin de semana, los líderes europeos se han reunido para determinar cuál es la mejor manera de destruir la zona euro, consolidando el poder sobre los Estados independientes como lo han hecho con Grecia. Después de que el Banco Central Europeo admitió que comprará bonos soberanos de los países endeudados, el Fondo Monetario Internacional (FMI) se lanzó como un buitre financiero describiendo lo que cree que debe ser su papel en el mecanismo para destruir la economía europea. Mientras tanto, el primer ministro español, Mariano Rajoy, que no ha aceptado oficialmente las condiciones dadas por el BCE, entró en una carrera para pedir condiciones más suaves antes de entregar su país al BCE y el FMI.

“La decisión del BCE de proporcionar fondos a España, prácticamente obliga al país a solicitar un segundo rescate”, dijo el jefe del BCE, Mario Draghi. El BCE ya ha expresado su intención de comprar cantidades ilimitadas de deuda de España y otros países que lo necesiten, por lo que se espera que Rajoy no va a dejar pasar la oportunidad sin pedir un rescate completo del país. Diplomáticos españoles han ido a Bruselas, Frankfurt, Washington y Madrid para tratar de negociar mejores condiciones antes de que España pida el rescate este otoño.

Pero de acuerdo a información privilegiada de Bruselas, ni siquiera un plan de rescate financiero será una fuerte red de seguridad para España, porque es claro que el país no podrá cumplir con sus metas de reducir el déficit debido a la depresión económica que tiene lugar en Europa y el fracaso del gobierno español para aumentar sus ingresos. Así que el rescate no es más que una cortina de humo para facilitar la entrega de España a sus acreedores, los banqueros europeos.

Mientras tanto, la jefe del FMI, Christine Lagarde, dijo que la organización está interesada en jugar un papel relevante en el diseño y seguimiento del plan del Banco Central Europeo de comprar bonos emitidos por los gobiernos de la zona euro. Lagarde subrayó que las medidas recientemente anunciadas por el presidente del BCE, Mario Draghi, “allanan el camino a seguir”, pero señaló que la prioridad debe ser aplicada de una manera coordinada. “Estamos dispuestos a ayudar y colaborar en el diseño y ejecución de todos los programas que deben ser parte de la solución “, dijo Lagarde, quien ha enfatizado que su institución está dispuesta a participar “activamente “en el diseño y desarrollo del programa de compra de deuda de países de la zona euro.

Tanto Herman van Rompuy, como el primer ministro italiano Mario Monti, han convocado a una reunión con otros líderes europeos para encontrar un terreno común para “derrotar las ideas populistas que han tratado de destruir el euro”, dijeron. “La integración de la UE es un problema constante”, dijo Herman Van Rompuy, “una vez más frente a los problemas económicos y sociales (…) así que le doy la bienvenida a la idea del presidente Monti de celebrar una cumbre extraordinaria sobre el futuro de la unidad europea “, dijo Van Rompuy.

El presidente explicó que la Comisión Europea es consciente de las críticas y oposiciones que existen en este momento, pero hizo hincapié en “los enormes esfuerzos de todos los países e instituciones europeas realizadas con solidaridad sin precedentes”. El Sr. van Rompuy probablemente quiere decir que hay solidaridad hacia los banqueros, no a favor de la población europea, que a pesar de sufrir las mayores tasas de desempleo en la historia reciente, no ha tenido ninguna ayuda directa de los líderes de la UE. De hecho, las primeras iniciativas adoptadas por los gobiernos de la UE iban a recortar el gasto en programas sociales, salarios, pensiones y otros programas que generalmente alivian la carga que pesa sobre la mayor parte del ciudadano europeo promedio.

Se espera que España amplíe su campaña para obtener mejores condiciones antes de su solicitud de un plan de rescate durante la reunión de ministros de Finanzas de la UE. “Esa es una conversación que no debe ocurrir entre España y el BCE, sino entre España y los demás miembros de la zona euro”, dijo Benoit Coeuré, director francés del BCE, en una entrevista en France Inter.

Herman van Rompuy no rehuyó la semana pasada a preguntas sobre cual será el resultado final de todas estas negociaciones. Van Rompuy dijo que en diciembre el proyecto de una nueva arquitectura europea se habrá presentado. Este proyecto se llevará a cabo por el BCE y la Comisión Europea, e incluirá cuatro pilares relacionados entre sí: un sindicato bancario, una unión fiscal, una unión económica y una unión política más profunda.

European Leaders Negotiate How to Collapse Europe

Herman van Rompuy Calls for less sovereignty for remaining nation-states.

By LUIS MIRANDA | THE REAL AGENDA | SEPTEMBER 9, 2012

Flashback: Herman van Rompuy, President of the European Union: “Homogenous Nation States are Dead”.

The collapse of the Euro and the European Union is not a result of the financial crisis created by the bankers. In fact, the crisis was created as a way to justify the banker acquisition of independent nation states in Europe, America, Africa and Asia, among others.

After reading what van Rompuy’s intention is in multiple occasions — to end nation-states as we know them — it is clear that countries will not be strengthened as a result of any measure adopted by the EU, the European Central Bank, or the IMF. As we speak there is a fight inside the banking hierarchy, whose members are discussing what is the best way to collapse the world’s financial system, beginning with the Euro zone to later spread the collapse to the Americas.

The EU president has not shied away from his goal to destroy nations and to submit them to unelected governing bodies. “The time of the homogenous nation state is over,” Mr he Rompuy said, adding that “in every European member state, there are people who believe their country can survive alone in the globalised world. It is more than an illusion — it is a lie.” The firmness of this statement can only come from a man who behind the scenes knows all the details of the planned implosion of the world’s financial system.

Since last week and over the weekend, European leaders have met to determine what is the best way to bring down the Euro zone while consolidating power over the independent nation-states as they’ve done with Greece. After the European Central Bank admitted it will buy sovereign bonds from indebted nations, the International Monetary Fund (IMF) launched itself like the financial vulture it is to discuss what it believes must be its role in the mechanism to destroy the European economy. Meanwhile, Spanish Prime Minister, Mariano Rajoy, who has not officially accepted the conditions given by the ECB, entered a race to beg for softer conditions before he hands his country over to the ECB and IMF.

“The decision of the ECB to provide funds to Spain, pretty much obligates the country to request a second bailout,” said ECB head, Mario Draghi. The ECB has already expressed its intention to buy unlimited amounts of debt from Spain and other nations who may need it, so it is expected that Rajoy will not let the opportunity pass by without requesting a complete bailout of the country. Spanish diplomats have gone to Brussels, Frankfurt, Washington and Madrid to try to negotiate better conditions should the country request the bailout this Fall.

But according to Brussels’ insiders, not even a financial bailout will be a strong safety net for Spain, because it is clear that the country will not be able to meet its goals to cut the deficit due to the depression now taking place in Europe and the failure of the Spanish government to increase its revenues. So the so-called rescue or bailout is nothing else than a smoke screen to facilitate the handover of Spain to its creditor, the European bankers.

Meanwhile, the IMF chief, Christine Lagarde, has said the organization is interested in playing a relevant role in the design and monitoring of the European Central Bank plan to buy bonds issued by euro zone governments. Lagarde stressed that the measures recently announced by the ECB President Mario Draghi, “pave the way forward”, but pointed out that “the priority is to be implemented in a coordinated manner.” “We are prepared to help and assist in the design and implementation of any programs that should be part of the solution,” said Lagarde, who has said that her institution is willing to participate “actively” in the design and development of the program debt purchase of euro zone countries.

Both Herman van Rompuy and Italian Prime Minister Mario Monti have called a meeting with other European leaders to find common ground to “defeat the populist ideas that have sought to destroy the Euro,” they said. “The integration of the EU is an ongoing problem,” said Herman van Rompuy, “again dealing with the financial and social problems (…) so I welcomed the idea of ​​President Monti to hold a special summit on the future of European unity,” said Van Rompuy.

The president explained that the European Commission is aware of the criticisms and oppositions that exist right now, but emphasized “the tremendous efforts of all European countries and institutions made ​​with unprecedented solidarity”. Mr. van Rompuy probably means solidarity towards the bankers, not in favor of the European population, which despite suffering the largest rates of unemployment in recent history, has had no direct help from the EU leaders. In fact, the first initiatives adopted by EU governments were to cut spending on social programs, salaries, pensions and other programs that generally alleviate the burden on the largest portion of the average european citizen.

It is expected the Spain will expand its campaign to obtain better conditions previous to its request of a bailout during the meeting of finance ministers of the EU. It is expected that both Spain and Greece will clear the timing of the petition as the appetite of European partners to facilitate (or not) things mild conditions (or not). “That’s a conversation that should occur not between Spain and the ECB, but between Spain and the other members of the euro zone,” said Benoit Coeuré, French director of the ECB, in an interview on France Inter.

Herman van Rompuy did not shy away last week about what the final outcome of all of these negotiations must be. Van Rompuy said that by December the project for a new European architecture will have been submitted. This project will be undertaken by the ECB and the European Commission and will include four pillars connected to each other: a banking union, a fiscal union, an economic union and a deeper political union.