http://www.zerohedge.com/article/berlin-pushing-european-bankruptcy-framework-provision-state-sovereignty-give
This is the precursor to WWIII.
Governments, have spent their countries into oblivion world wide, regardless of what their citizens thought. Every country, not just the European Nation, could become subject to the same conditions for Angela's rules of bankruptcy.
Think about it. How close to a calamity is your own country?
Would you be willing to give up your country's independence and sovereignty all because your government can't reign in it's excessive overspending?
Because that's what it's all boiling down to now.
How soon before "All of Us" are governed by one faction if Angela's rules are allowed to set a precedent?
Is servicing the interest on our government debts really worth another world war?
You have the power to just say No!
The big news out of Europe this morning, and the reason for the drag on the euro is an article in Der Spiegel, "Merkel's rules for bankruptcy" according to which Germany is now actively (and very secretly) pushing for a plan outlining a set of insolvency rules, which would require that private investors bear a portion of the rescue burden, and much more importantly, would see at least a partial give up in state sovereignty, where a new insolvency trustee (the "Berlin Club", which we fail to see at least for now, how it differs from the Paris Club) would take implicit control over and override a default nation's treasury, in essence pushing the bankrupt country into a form of Feudal vassal state-cum-reparations subservience. Welcome to financial warfare in the post-globalization period.
The main reason for the initiative is, of course, Germany's taxpayers' increasing dissatisfaction with the growing financial burden they are forced to shoulder as more and more European countries succumb under the need to resort to a bailout of some sort:
The effort is necessary, because important safety measures to protect the common currency are not working. The Stability and Growth Pact, which was intended to nip excessive government borrowing in the bud, proved to be largely worthless.
As more and more nations in Europe succumb to the inevitable collapse of their overindebted economies, and with austerity sure to prevent a pick up in economic growth, will the only possible outcome soon be a return to Feudal europe where the less developed hinterlands become gradually subsumed by the wealthier core, and in which a certain percentage of all sovereign debt issues are immediately channeled back to the Berlin Club members? Is "insolvency reparations" going to be the 21st century equivalent event that triggered the reparation-driven toxic spiral in Weimar Germany culminating with hyperinflation and World War 2?
