Germany's Weimar II has become ECB's 5th Reich

We are well aware that German banks owe American and British banks
a lot of money. That is the old British trick of trapping countries in
debt.
Germany has , in turn, trapped peripheral Europe in their own debt
trap. I hope that they are aware that by Germany not doing
that capitalistic thing and declaring their banks bankrupt, they
are forcing warfare on the rest of the Eurozone, and then some.

Of course, in realpolitik, the Germans are fighting off the destruction
of the Euro and the EU, that the US and UK want, by.....
destroying the Euro and the EU.

Of course, when you see Monti of Italy (Unelected, Goldman Sachs Party)
begging or blackmailing Germany on the issue of Eurobonds, it's
the US talking through their ambassadors to Europe, the Goldman Sachs
corporation. The Eurobonds will allow the game to continue indefinitely,
or until the US pulls the rug again.

IshitUnot: zerohedge

A Game Of Euro Chicken From The German Perspective: "Playing Until the Germans Lose Their Nerve"

Submitted by Tyler Durden on 06/08/2012 12:23 -0400

The following editorial from Spiegel has to be reposted in its entirety because it really captures the current situation, from a German perspective, clearly, concisely and completely. It also frames quite closely what we said 11 months ago in "The Fatal Flaw In Europe's "Bazooka" Bailout: 82 Million Soon To Be Very Angry Germans, Or How Euro Bailout #2 Could Cost Up To 56% Of German GDP"

Playing Until the Germans Lose Their Nerve

A commentary by Jan Fleischhauer

For Germany, being part of the European Union has always included an element of blackmail. France has been playing this card from the beginning, but now the Spanish and the Greeks have mastered the game. They're banking on Berlin losing its nerve.

... The next stage in the crisis will be blatant blackmail. With their refusal to accept money from the bailout fund to recapitalize their banks, the Spanish are not far from causing the entire system to explode.[CAN’T HAVE IT BOTH WAYS] They clearly figure that the Germans will lose their nerve and agree to rehabilitate their banks for them without demanding any guarantee in return that things will take a lasting turn for the better.

SUPERKALAFRAJIFUKA-NOMICS

If you stack Chicago School (fascist) economists at the bottom of Lake Michigan, would the resulting methane cause global warming to increase rapidly? No, but it would worth trying. I don’t have the right data now, but I could extrapolate from the dead body of their boy Augusto Pinochet whose bones could still be required to do time in a Spanish jail.

IshitUnot: Naked capitalism

Steve Levitt: Like a True Chicago Boy, Likes People to Go to Jail so Markets Can Be Free

Yves here. Readers reacted positively to the inaugural report by the S.H.A.M.E Project on Malcolm Gladwell. S.H.A.M.E. , stands for “Shame the Hacks who Abuse Media Ethics.” Its approach is to provide information about the background and funding sources of well-recognized journalists and pundits so that the public will be in a better position to recognize bias and hidden agendas in their reporting and analysis.

This second report, on the widely-read economist Steve Levitt, overlaps strongly with NC’s beat. Note that this dossier format is the one S.H.A.M.E. plans to use for future releases.

By S.H.A.M.E Project

Steven D. Levitt

Co-author of #1 Bestseller Freakonomics; Economics Professor at the University of Chicago

Named one of Time magazine’s “100 People Who Shape Our World,” Steven Levitt, author of Freakonomics, is generally assumed to be a harmless, quirky pop economist for trivia nerds. However, Levitt has a history of attacking teachers’ unions, advocating for the privatization of prison labor, defending online gambling and occasionally crossing over the fringe-right line by promoting climate change denialism and, some have argued, racial eugenics. A dyed-in-the-wool Milton Friedman neoliberal from the same “Chicago Boys” network that brought you the “shock doctrine,” Levitt’s idea of economics Utopia is a world in which “the market” solves all our problems and government is restricted to protecting property rights.

Bloggers! Assess thineselves. Do ideas scare you?

As I started my blogging 4 years ago, I stated clearly
that I enjoy discussing important topics of the day
and I see apathy as a bad thing, when politicians
are so f^%&*king evil.

Anyway, the fella below spelled out how he realised
he was a blogger. So, test yourself.

IshitUnot: Liberty blitz

Remember the Words of Joseph Stalin

Posted on June 14, 2012 by Michael Krieger

I recall wanting to read Mein Kampf as a young kid, although to this day I have only read excerpts.  I wanted to know what made this guy tick, what his thoughts were.  How could someone justify such horrific actions. As I have progressed into adulthood I have only become more and more convinced that books written by psychopath killer dictators should be required reading for every single human being on the planet.  In a similar vein, I remember hearing the argument back in high school that people should not read Machiavelli’s The Prince.  The argument was that if people read a manual on devious thoughts, and the application of ruthless behavior to achieve one’s selfish ends, that it would permeate society and lead us all into a darker place.  As soon as I heard this, of course, the first thing I did was head to the book store to buy it.  I recall my reaction to the treatise vividly. [TRUE BLOGGER]

I remember thinking how absolutely asinine the argument for shielding this book from society really was.  The conclusion I came to was that anyone with a truly sick, sociopathic mind wouldn’t learn anything from this book.  Their minds already intuitively thought that way.  Those that could be persuaded to think in that manner as a result of reading such a book were just dangerous sheeple that would sell their souls to work with a sick system.  They would end up doing so anyway.  Those people don’t scare me so much as the naturally devious mind does.  They can be easily outmaneuvered by smarter men and women. ....

of jubilees and modern slavery

Ever wondered what the life of the serf was like.
You've seen them represented in movies with knights,
all bent over, half dead with starvation and overwork?
Well, look no further. 
Serf are always to be found right amongst the riches of 
the royal family. 

IshiUnot:
Jobseekers 'slept rough' then staffed royal pageant for free

Calls for inquiry into claims that jobless spent 14 hours on duty without access to toilets

Oliver Wright & Kevin Rawlinson

Calls were growing last night for an investigation into claims that up to 30 jobseekers were bussed into London to work as unpaid stewards during the Diamond Jubilee celebrations.

One woman from Bristol, who did not want to be named, said she was among 80 people – there were also 50 people on apprentice wages – "left stranded" in central London after travelling from Bristol overnight.

"We went under London Bridge and were told we would be camping there," she told The Independent. She claimed they were told they would start work at 5am but by 3.30am they still had not been given somewhere other than the street to sleep. She said she was then made to change into her uniform in public before spending 14 hours on duty without access to toilet facilities.

Labour's former deputy leader Lord Prescott has now written to Home Secretary Theresa May asking her to investigate claims made against security firm, Close Protection UK (CPUK), which was contracted to provide up to 30 unpaid stewards for the river pageant on Sunday. CPUK had bussed in the group of long-term unemployed from Bristol, Bath and Plymouth.

He said: "If the allegations are true, it is totally unacceptable that young unemployed people were... forced to sleep out in the cold overnight before stewarding a major event with no payment," he wrote. "I am deeply concerned that a private security firm is not only providing policing on the cheap but failing to show a duty of care to its staff and threatening to withdraw an opportunity to work at the Olympics as a means to coerce them to work unpaid." Reports claimed the workers were brought in as part of the Government's Work Programme, where the unemployed must take up placements in order to continue receiving benefits.

Test for International Psycho. Are you a politician?

A ARE YOU A SOCIOPATH? 

B ARE YOU A POLITICIAN? 
If B= Yes, then

B IS SUFFICIENT FOR A

IshitUnot: Liberty blitz

Remember the Words of Joseph Stalin

Posted on June 14, 2012 by Michael Krieger

Know Your Enemy

If Americans can indeed be convinced that such people roam the streets of the US of A then they are likely the one-off serial killer we hear about every now and again, or some homeless person that ODs on bath salts and eats some other homeless person’s face on the side of a highway in Miami.  The big secret is that the smart, devious and ambitious minds do not lock middle aged women in basements; they go into politics.  More specifically, they pursue power wherever it can be had.  This is why I refer to Washington D.C. as a the world’s largest cesspool.  I think at this very moment there aren’t many places on this earth with a higher concentration per capita of twisted, immoral, inhumane creatures that somehow still refer to themselves as human beings.

Greece is a test bed for global bankocracy

The failing of the banker classes in their attempt to subjugate
South America was that those poor countries were not
beholden to an international body that would tie its
metaphorical hands and feet and keep them in the fire
of Debt Hell.
Now, Greece, and the ever-growing list of victims of
bankocracy in the EU, has no choice but to take this
extra-parliamentary putsch and turn it into a
permanent cancellation of democracy.
The election you just saw was iconic, since the politicians
who won will continue to do the bidding of the Troika.
It will have no effect on the cancellation of
the Greek constitution.

Latvia was just the appetiser. And the poor bastards
had just got out of Communist Hell, all wide-eyed.

  

 Latvia success

IshitUnot: 2 texts

Liberty blitz

Remember the Words of Joseph Stalin

Posted on June 14, 2012 by Michael Krieger

Know Your Enemy

As we head into the Greek election this weekend, I thought it would be appropriate to recall the words of Joseph Stalin.  Particularly his observation about elections and vote counting.  I find it hilarious that the Greek authorities suspended polling heading into the election.  I mean, that tells you everything you need to know.  This is exactly what you would do if you were thinking about rigging the results.  The worst thing that could happen would be to have Syriza soaring in the polls into the main event.  If that was the case, it would be much more difficult to arrange a more “favorable” outcome.  This way they can just claim “wow, unexpectedly the bankster parties won!”  I’m not predicting that will be the outcome, I’m just saying the suspension of polling was a huge red flag.*  Here is the chart of the last polling results and some excellent commentary.  Greece is extremely important as it is a key testing ground for TPTB.  Everything that is happening in Greece will be attempted elsewhere if they can get away with it there.  This gives the country a great deal of significance.  That said, even if Greece is lost there is no way TPTB can win this thing.  It is taking them more than two years to roll up tiny Greece.  Even if they succeed, do you think Spain and Italy will go so easily.  Then what about the U.S. with hundreds of millions of guns everywhere?  There is no chance.  The globalist agenda is already dead in the water; however, as we can see it doesn’t stop them from continuing to try.

What TPTB do not appreciate are the lessons we are all learning from Greece.  We must learn many more lessons though.  We must admit to ourselves that there are truly evil geniuses out there, and in most cases these characters have taken control of the power structure (corporations, politics and factions of the military in most of the nations we reside in).  The necessary action is not for good people to bury their heads in the sand and pretend that such people do not exist.  We must get inside their minds. 

2  zerohedge

Just What Is Mario Draghi Hiding? ECB Declines To Respond To Bloomberg FOIA Request On Greek-Goldman Swaps

Submitted by Tyler Durden on 06/14/2012 13:38 -0400

Back in February 2010, in the aftermath of the discovery that none other than Goldman Sachs had facilitated for nearly a decade the masking of the true magnitude of non-Maastricht conforming Greek debt, Zero Hedge first identified the prospectus for a Goldman underwritten swap agreement securitization titled Titlos PLC. We titled the analysis "Is Titlos PLC The Downgrade Catalyst Trigger Which Will Destroy Greece?" because for all intents and purposes it was: at that time a rating agency downgrade of the country would lead to a chain of events which would make billions in assets ineligible for ECB collateral, forcing a massive margin call on the National Bank of Greece, which likely would have precipitated a Greek default there and then.

... The ECB's response: "The European Central Bank said it can’t release files showing how Greece may have used derivatives to hide its borrowings because disclosure could still inflame the crisis threatening the future of the single currency."

... But what is far more likely is that the reason why the ECB, headed by none other than former Goldmanite Mario Draghi, is desperate to keep these documents secret is for another reason. A very simple reason:

    Mario Draghi - 2002-2005:  Vice Chairman and Managing Director at Goldman Sachs International

In other words, Draghi was a key executive at Goldman at precisely the time when none other than Goldman Sachs was hired to create and facilitate the active hiding of the true extent of the Greek debt problem.

the chess move: going for checkmate

I've got it. I can now see the end-game of the financial crisis.

Either politicians around the world are stupidly heading toward
financial armageddon, or they are simply perfecting their
electronic -money game and waiting for the right time
to "save" the people by cancelling cash money as legal tender.
This way they'll have complete control of our bank accounts,
and will take our money if we protest this new electronic
state of affairs. (see 'the squeeze' below)

On the political level, if you have a Troika in your parliament,
your constitution has been superceded. And , pretty soon,
we'll all have a Troika in the house. While we want to
have our politicians lose face, we don't want to lose
whatever sovereignty we have left.


the big players:

If the US chooses Obama, we all get Builder-berg.
If the US chooses Romney, we all get Builder-berg.

It all has to do with TPP , or the guy who went to see the Builders.
There is now no choice.
If you vote Obama, blindly, you get TPP.
If you learn about TPP, you'll say that Obama is making a
power grab and you'll vote for Romney, who went to BB
to get his marching orders.

And politicians are not talking to the Internet media (the Real media)

Rand Paul on Bberg


Tpp


That's it. We're done here. School's out forever.

For Die-Hards only: Hang the bankers

Mitt Romney attended Bilderberg 2012

06 Jun 2012

by Jacque Fresco

A banner welcomes Republican presidential nominee Mitt Romney to the 2012 Bilderberg conference.

What a Bilderberg it’s been. Big names, big money, big decisions, big crowds. Somewhere around 800 activists outside the gates (up from about a dozen in 2009), and inside? Well, here’s what we learned.

A Mitt Romney attendance?

Four eyewitnesses on the hotel staff told me Willard Mitt Romney was here at Bilderberg 2012. My four eyewitnesses place him inside. That’s one more than Woodward and Bernstein used. Romney’s office initially refused to confirm or deny his attendance as Bilderberg is “not public”. They later said it was not him.

So, was he being crowned, or singing for his supper? Will Mitt Romney follow in the august footsteps of Clinton, Cameron and Blair to have attended Bilderberg and then shortly become leader? Four years ago, Senator Obama shook off his press detail and nipped (many think) into Bilderberg. This exact same hotel.

Did Romney have to get down on one knee in front of David Rockefeller? This sounds flippant, but it’s a serious question: has Bilderberg switched allegiance? Are they going to toss away Obama after just one term?

The squeeze

between a rock and a hard place

between the banks and the politicians

If you're being screwed by bankers, 

and your business is ruined due to a lack of loans,

if you can't find work and have no health coverage,

the government

will protect you by giving you electronic money

and enough handouts to survive, and no more.

No more individual initiative. Not much

business and entrepreneurial room.

Enslavement by one or the other method. 

Debt or "socialism"

Night of the Living Cronies.

The government will provide a safety net for 
anybody who is not a banker or a politician. 
Enjoy the new order of the world.

Builder-berg is a laugh-fest

except for the oligarchs-ruling-the-world vibe.

You'd think it was a comedy festival, what with the
GUARDIAN SENDing an ASCERBIC COMIC
to cover this, "WITH A PEN".

It’s like "let’s send up the whole thing, and
then we won’t get sued".
Charlie Skelton, despite being a comic,
is observant. He noticed that the mainstream media
were absent, while the INTERNET BRIGADE,
of which I wish I were a junior member,
was there LIVESTREAMING with CAMs,
& THEY got to interview Tony Bliar,
and caught him lying (what a surprise) about
attending such a billionnaire-fest while he was
STILL PRIME MINISTER.
That's conflict of interest, sir.


IshitUnot: Guardian (assorted clips)
The power jumps a few thousand watts when an SUV rolls up and out hops the Oprah Winfrey of alternative media: Alex Jones. ....He's broadcasting his show live from the police line, streaming video, ... the next minute bullhorning some poor billionaire delegate as they try and slip inside unnoticed. "The answer to 1984?" yells Jones. "1776!" roars the crowd.

The wall between people and events – that dusty old safety barrier between the news and its consumers – it's tumbling down around Bilderberg.

They're out here, in the Virginia sun, working hard. Livestreaming, uploading, swapping data, checking audio feeds – in short, reporting the news. And why? Short answer: because CNN isn't.
I ask Luke why he's come. "I try not to theorize. I go to the source. I try and find out exactly what's happening." Rudkowski used an article I'd written at Bilderberg 2010 to put Blair on the spot. In my piece, I'd used the evidence available online to call Blair a liar. Rudkowski went to the horse's mouth.

"There's a reason he lied. It shows you something's going on. The more questions I raise about
Bilderberg, the more questions I have – there's a lot more to the story than what we're being told".
After the awkward admission comes the killer question:
"Conflict of interest?"
You have to watch Tony Blair's discomfiture at that question. His answer is basically: "Yeah. Um." Watch it. And then wonder to yourself why such a skilled politician would tell such a stupid lie in the first place.
Luke Rudkowski is the We Are Changer who put Blair on the spot. He's here in Chantilly, outside Bilderberg, with more recording equipment strapped to him than the average moon lander.

"It's huge," he says, as he records the crowds. And the crowds just keep on growing. By early afternoon on Thursday, there are well over 200 people, and they keep rolling up. I hate to curse Bilderberg 2012 by saying this so early, but it feels like… this could be the big one. The breakthrough.
But here's the thing… footage has just been released by activists from We Are Change, who took the liberty of sticking a microphone in Tony's face and asking him the same question. (You can watch the video here)
Same question. Different answer.

"Yeah, it's a really useful group actually, I remember going back to that in 1993, and we, er… it's a great way too for people from different parts of the world to get together, um, so it's been good."
The mainstream press dropped the ball on Bilderberg; in fact, I'm not even sure they ever had it in their hands. So people like Rudkowski have had to step in, pick up the ball, re-edit it, and stick it online with comments enabled. At Bilderberg 2012, the mainstream press is quite simply being bypassed. And there's me with my pen and notepad, interviewing Luke, while he livestreams it. I feel like a caveman with a bad haircut talking to an astronaut.
 2
more proof of well-hidden infiltration attempts that ended in the cafe', down the street:

Hang the bankers

Mitt Romney attended Bilderberg 2012

06 Jun 2012

by Jacque Fresco

Finally. The Washington Times sent Ben Wolfgang, the Guardian sent Ryan Devereaux and the Times of London actually tried to get a journalist inside – Alexandra Frean was turned away at the gates. But she tried. At least she tried. That’s a start. We can work with that.

Is higher learning only done in English?

It's still surprising to see Italy succumbing to the English
tidal wave in university education. The Politecnico
di Milano is considering shifting to mostly English
teaching.
I think the first lingua franca was Akkadian, then Greek,
and Latin had a good millenium before it stopped
being spoken by educated people all across Europe,
thanks to medieval universities and the RC Church.
It figures that the BBC would report on this, in
a triumphant manner.


IshitUnot: Bbc
Italian university switches to EnglishBy Sean Coughlan BBC News education correspondent
The Politecnico di Milano The highly-regarded Politecnico
di Milano is going to become an English-speaking university
From opera at La Scala to football at the San Siro stadium,
from the catwalks of fashion week to the soaring architecture
of the cathedral, Milan is crowded with Italian icons.
Which makes it even more of a cultural earthquake that
one of Italy's leading universities - the Politecnico di Milano
- is going to switch to the English language.
The university has announced that from 2014 most of its
degree courses - including all its graduate courses -
will be taught and assessed entirely in English rather than Italian.

The Return of the Pension-Killing Bait-o-matic

Computers are now being programmed to bait
humans or other computers into a battle that
they will , typically lose, unless they're Norweigian
humans.

To read it described, I'm reminded of great authors
of science fiction , like Ray Bradbury (RIP) talking
about worlds were machines fight for supremacy
and humans hide, clutching their pensions.
Beware the HFT computer!




IshitUnot:  Denninger
Get OUT Of The Futures Markets
It's happening again and if you get reamed don't say you weren't warned.
There's no defense against this when the other side of the trade is a robot.
The only defense is not to be involved at all.
A good while ago I did a video on HFT games in the stack --
orders repeatedly appearing and disappearing with no chance
 for you to possibly act against them. These orders are not
 intended to execute, but rather are intended to "bait" some
other robot to go against them and then they're pulled.
... This crap was prevalent during the 08/09 meltdown and it's back.
 There has been exactly nothing done about it since the meltdown
and it is how small retail traders get their entire account wiped out.

close the door, I'm doing immoral things over here

It's not good enough for rich people and their corporations in the US
to have legal, free reign to buy and sell politicians (they
choose the winner anyway) because now politicians are telling
the public who is funding them.

Rich folk don't want to be seen buying politicians. Or, so they say.
I think they don't want to be seen giving millions to the guy who
is going to lose (Mitt Romney), because some people might
say "he's a Republican. I'm switching my business to the other guy".

trophy wife, and Maybach

Also, I think that rich guys like showing their wealth. It's like
them wagging (what is in reality a very small) dick around.
It's a guy thing.

Let Mira explain (5:40):


also check the line at 4:00 about married guys. These two clips are why she got the Oscar.
They gave it to her and parked it between her big tits.


IshitUnot: BillMoyers.com / By Bill Moyers and Michael Winship

Pity the Poor Billionaires: Ultra-Rich Whine About Having Their Massive Campaign Donations Exposed
Since 1979, 377 members of the Forbes 400 list of richest Americans have given almost half a billion dollars to candidates of both parties, most of it in the last decade.
We had the perfect headline all picked out for this piece but our colleague Paul Waldman at The American Prospect magazine beat us to the punch:
“It’s Hard Out There for a Billionaire.”
You see, according to Politico.com, the so-called “mega-donors,” unleashed by Citizens United and pouring boundless big bucks into this year’s political campaigns, are upset that their massive contributions are being exposed to public view, ignoring the right of every one of us to know who is giving money to candidates — and the opportunity to try to figure out why.
“Quit picking on us” is part of Politico’s headline. Their article says that the mega-donors’ “six- and seven-figure contributions have… bought them nothing but grief.”

Keynes or Dickeynes

Got a chimney to be swept, massa?  a street Urchin from the times
of Charles Dickens

Once upon a time, not too long ago, Keynesian economic theory
meant that governments could sweep away minor recessions
with loans and public works.
Well, today, banksters and their political slaves have taken away
all the rules that kept recessions from getting out of control, and
have replaced Keynesianism for the public, with

Keynesianism for themselves.

The rich get easy-street socialism while the rest of us get hard capitalism.

Look at the societies that we all built after Dickens' works,
and that of the new photographic machines,
sickened everyone by showing the world the miserable life
of most Londoners, worst of all, children.
We built a social safety net, education and health for all
(except the US) of high quality , and now we're allowing it all
to be undone, in the name of austerity.
That's our word. The rich don't get austerity. That one's all for us.

People in the European periphery, people are committing suicide
and popping off bombs. It can only get worse, unless we get
a debt jubillee.

Definition: to Bail out

To bail out: to use money to
help somebody pay the bills.

To bail out, in a bankocracy:
to take electronic money, borrowed
from one bank to give to another,
all the while allowing banks to
further eviscerate the markets
because that's the only way they can make money,
having killed off most industries,
through vulture capitalism (hello, Mitt)

Banks are concerned about austerity in Spain.
Spain's economy is not going well. 

Response: banks raise Spain's lending costs.

If Spain spends money to help its people (or its banks),
the banks get concerned about the budget deficit,

Response: banks raise Spain's lending costs.

Concern seems to always favour the banks
 if the solution sees them

demanding more money.

Perhaps if you changed the word concern for:

“cornering your victim”

“checkmate”

"catch 22"

“Jimmy Choos vs cockroach, in corner”.

Spain Downgraded to BBB as Fitch Predicts Slump Through 2013
[no sh*t, Sherlock- Costick67]
By Ben Sills - Jun 7, 2012 6:31 PM GMT
Fitch Ratings cut Spain’s long-term credit rating to BBB and left it two notches from junk, citing the cost of recapitalizing the country’s banking industry and a lengthening recession.
Spain, which saw its rating lowered from A, may need as much as 100 billion euros ($126 billion) to bolster its banking system, compared with an earlier estimate of about 30 billion euros, Fitch said today in London. The Spanish economy is set to remain in recession through 2013, the ratings company added, having previously forecast a recovery for next year.

Que? this banking is loco

Here are some mind-bending facts about the crisis.

the ECB is profiting from Greece's destruction

ECB can't loan to countries, but bailed-out Spanish banks can

imposed austerity guarantees that countries will declare bankruptcy

BTW every Euro country is technically bankrupt

Even Germany needs 168 years to pay its debt, as it stands

the longer the crisis, the worse the Euro is

the worse the Euro is, the better Germany exports are

IshitUnot:  3 texts
1
VAROUFAKIS.eu
...1. A week ago the bankrupt Greek state borrowed 4.2 billion from Europe’s bailout fund (the EFSF) and immediately passed it on to the European Central Bank (ECB) so as to redeem Greek government bonds that the ECB had previously purchased in a failed attempt to shore up their price. This new loan boosted Greece’s debt substantially but netted the ECB a profit of around 840 million (courtesy of the 20% discount at which the ECB had purchased these bonds).
2. During the same week, the fiscally stressed Spanish government was injecting large amounts of capital into Spanish banks. Simultaneously, to help finance the Spanish state, the ECB has provided large loans to Spanish banks (at 1% interest rate) which they then re-lent to their ‘saviour’, i.e. the Spanish state, at interest rates often exceeding 6%.
3. For the Greek and the Spanish governments to be ‘allowed’ to borrow the monies involved in the operations described under 1 and 2 above, the ECB and the European Commission (plus, in Greece’s case, the International Monetary Fund) demanded of them that they deflate their economies through savage spending cuts which will, with mathematical precision, reduce the national income from which loans, new and old, must be repaid.
4. Average interest rates in the Eurozone (even if we exclude the three countries that have fallen out of the markets and have received ‘bailouts’, and include Germany’s crisis-induced ultra-low rates) are at least 1.5% higher than nations with a higher average degree of indebtedness, e.g. the UK.
The German Chancellor (correctly) argues that we cannot escape a debt trap by accumulating more debt. However, consider facts 1,2&4 above: they constitute a typical case of adding debt to debt; of insolvent states borrowing in order to pay a Central Bank that is lending to insolvent banks which, at once, receive capital from insolvent states and lend to them part of the money they themselves borrowed from the Central Bank! [aAAAAAAaaaaAaAaAAAAahHHhHhhhHHhHhhhh-Costick67]

2
Germany would require 168 years  to pay its debt
imerisia.gr – 30 Μαϊ 2012....
[translated] The German government insists on the austerity measures for the euro area countries, but in Germany itself there are few institutions that control and prohibit non-rational spending

Germany would require 168 years  to pay its debt, which exceeds 2 trillion euros. And this, provided of course that today will not borrow a single penny now and every month we have one billion to repay its debt.
3
..L' echo: Germany wins over the crisis in the eurozone
Newsit.gr | NewsIT –
the Belgian French-speaking newspaper "L 'echo", today, the "insolent behavior" of Germany is benefiting from the crisis.


With surtitles "Germany benefits (too much), the crisis in the eurozone," the article emphasizes that the country gaining the most from the European problems is not Spain, but Germany, which, in fact, enjoys  "shamelessly" from this crisis.