how to solve crisis when German journalists are f%^&kwits

This story , which was reprinted in Zerohedge, with barely
a blinked eyelid, is so full of holes, there's no basis for
beginning to unravel the Euro's problems.

The gist of the story is that Germans are congratulating
themselves for trying to screw the PIIGs, or better PICIGS,
with the addition of Cyprus and soon Slovenia, or their
upper classes by squeezing their governments through the
Troika.

I've got news for those numbnuts. The upper classes are
doing quite well, thank you very much. They're politically
connected and have their money stashed offshore, like
German oligarchs do. D-uuh

Now Germans've just discovered that peripheral country people
almost all have made good investments and have savings,
cars and houses, when Germans do little more than
work, fist their girlfriends, and then die.


The truth is that peripheral plenty is caused by careful investing,
sensible living, moonlighting, cooperation between relatives,&
yes a bit of tax evasion.
So, the periphery has :

Poor countries with 

relatively rich citizens

The Troika was actually designed to murder these family
-oriented people who love nothing better than to provide
for their kids' futures.
That's not like northerners who, when they reach adulthood,
forget that they were ever born, chucking their folks
in the human garbage can, some corner-cutting Institution
of elder decline.
What that means is periphery people invest in their kids,
while northerners blow their money and make their kids
give their best years of income to a mortgage loan.
Garbage in: garbage out

And this shadenfreude is so stoopid because it's not going
to make Germans any richer. They're getting poorer by
the day. hahaAHHAhahAhahahaHAAHahahahah
Their banks, on the other hand, are getting the money
that German savers would have got. so, nyah!

 I have to say that I side with these common people of the
periphery especially now that it seems the "poor" are
set to pay for the mistakes of the oligarchy, and pay
forever, all over the world.  Sometimes even foreign
oligarchs. e.g.:
Bankrupt German banks are being protected
and their victims, the PIIGs are being robbed.

I'm glad the PIIGs citizens stole from their governments,
because their governments are traitors and they are
giving away everything to foreigners at firesale prices.

I'll try to cut this massive story up and comment on it.
It's very important because it is oh so wrong.

checkit: ZeroHedge

Germany's Perspective: "How Europe's Crisis Countries Hide their Wealth"

Submitted by Tyler Durden on 04/28/2013 09:38 -0400

Much has been said about the relative disparity of wealth between Germany and the rest of Europe, with the conventional wisdom being that Germans are rich and everyone else poor. This assumption has been challenged to the core recently, with some studies even suggesting that median household wealth in places like Cyprus is far, far greater than that of Germany, contrary to previous assumptions. In turn, this helps to explain the lack of "eagerness" of the Germans to constantly "assist" with the bailouts of peripheral countries by directly funding or assuming debt guarantees, or otherwise be loaded with the primary burden of future inflation if and when the ECB's creeping monetization of European debt, both directly and indirectly via PIIG bank collateral, unleashes the Weimar flashback tsunami. In this context, it is easy why it was the Germans who were intent on demolishing not only Russian billionaire savings (which as the Spiegel article below demonstrates, Germans are convinced are largely ill-gotten and hidden), but also why the punishment should stretch to uninsured depositors.

After reading the Spiegel article below, which reveals so much about German thinking, it becomes very clear that not only is Cyprus the "benchmark", but that the second some other PIIG country runs into trouble again, and its soaring non-performing loans inevitably demand a liability "resolution" a la Cyprus, it will be Germany once again at the helm, demanding more of the same equity, unsecured debt and ultimately depositor impairment. As the following punchline from Spiegel summarizes, "It would be more sensible -- and fairer -- for the crisis-ridden countries to exercise their own power to reduce their debts, namely by reaching for the assets of their citizens more than they have so far. As the most recent ECB study shows, there is certainly enough money available to do this." And that is the crux of the wealth-disparity demand of the European Disunion.

From Spiegel, by its staff

The Poverty Lie: How Europe's Crisis Countries Hide their Wealth

[to be continued]

In Business journalism, half a brain is dangerous

It's always hard to make a positive story out

of the neo-liberal banking crisis of 

2008 to infinity. 

But Reuters is just the bunch of half-wits

to do it. Where others see the destruction

of capitalism, they see cheap loans.

Have they ever tried to get a loan?

banks are not lending to mom and pop

shops.

German taxpayers are being robbed, but

luckily for them, they seem to be happy 

about it, because it's being sold to them 

as Teutonic Superiority. f%&*king rubes!

 

beyond that :

SAVERS ARE F$%&CKED. 

THE FUTURE PUBLIC MONEY OF THE COUNTRY 

IS PLEDGED TO BANKS, 

CUTTING OFF GROWTH FOR REAL COMPANIES 

THAT MANUFACTURE.
MORON

checkit: REUTERS

Analysis - What taxpayer bailouts? Euro crisis saves Germany money

German Chancellor Angela Merkel and Italian Prime Minister Enrico Letta pose for photographers after a news conference at the Chancellery in Berlin, April 30, 2013. REUTERS/Fabrizio Bensch

By Jan Strupczewski

BRUSSELS | Thu May 2, 2013 9:12am BST

(Reuters) - Throughout Europe's debt crisis, northern European leaders have often said they will not stand for taxpayers having to fork out for other countries' problems, and the notion of "taxpayer-funded bailouts" has taken root.

Yet despite three-and-a-half years of debt and banking turmoil, with bailouts totalling more than 400 billion euros, northern euro zone taxpayers have not actually lost a cent.

What is more, governments in Germany, Finland, Austria, the Netherlands and France have saved billions of euros thanks to a sharp fall in how much they pay to raise money in financial markets since their borrowing costs have dropped steeply.

But that has not prevented the image taking root in voters' minds of hard working northern Europeans putting money on the line to rescue profligate, work-shy southerners, fuelling resentment and undermining Europe's unity.

In the run up to German elections in September, that resentment is only likely to grow, and Chancellor Angela Merkel, bidding for a third term in office, will have to reaffirm her commitment to protect voters from potential losses.

But the truth remains that German taxpayers, as well as those in Finland, the Netherlands and elsewhere, are no worse off at all, and their finance ministries have racked up savings.

"As an unintentional consequence of the crisis, Finland has benefited enormously," said Martti Salmi, the head of international and EU affairs at Finland's ministry of finance.

"We have not lost a cent so far," he told Reuters. "The same as for Germany very much holds for Finland."

In fact, German officials are well aware of their stronger financing position, the result of a more than two percentage point fall in borrowing costs, even as politicians continue to lament the risks being piled on German taxpayers.

When giving presentations in Germany, Klaus Regling, the German who heads the euro zone's permanent bailout fund, often cites two studies that show that Berlin has reaped substantial savings as an unintended consequence of the crisis.

One study, by German insurance giant Allianz (ALVG.DE), has calculated that Berlin saved 10.2 billion euros in 2010-2012 because of lower borrowing costs, as yields on its 10-year bonds fell from 3.39 percent to 1.18 percent now.

The other study, by Jens Boysen-Hogrefe of the IfW economic institute, suggests that the German federal budget saved 8.6 billion euros in 2011 due to low ECB interest rates and the safe-haven impact of investors putting money into Germany.

Those savings rose to 9.6 billion in 2012 and the safe-haven effect will alone be worth 2 billion in 2013, IfW said.

"If we add up the interest rate advantages gained in the period 2010 to 2012 and those that Germany will benefit from in the years to come, we arrive at cumulative interest relief for the German budget of an estimated 67 billion euros," Allianz said in a paper published last September.

"(That is) enough to slash around 3 percentage points off Germany's government debt ratio," which reaps further saving.

Finland, the Netherlands, Austria and France may not have gained as much as Germany, but have also seen a substantial decline in borrowing costs over the crisis period....