2011-11-09

Socionomics Alert: Euro breakup, for real

There are a few stories out. The first one I want to draw attention to is not the most important, but just shows social mood extremely clearly. U.S. Stocks Extend Declines on Concern Nations May Exit Euro
Merkel’s Christian Democratic Union party wants to make it possible for European Union members to exit the euro area, Handelsblatt reported in a preview of an article to be published tomorrow, citing unnamed participants in the discussion.
I don't think this is the big news that sank markets, but it helped. However, look at what I posted on August 28 of this year: Germans Reject United Europe The post consisted solely of a news item in Der Spiegel, translated using Google. CSU wants to banish debt of euro zone countries
In coping with the euro crisis is the CSU after SPIEGEL information on collision course with Chancellor Angela Merkel (CDU). In a policy paper for a meeting of the Presidium of the party with European experts on Monday intends to CSU collect red lines for the euro rescue. "A permanent and unlimited liability joint and transfer union would mean a pooling of financial policy and change the character of European countries associated decision," says the paper, the CSU General Secretary Alexander Dobrindt and Vice President of the Bavarian Parliament, Reinhold Bocklet, have written. Instead, calls for the CSU ", means an insolvency procedure for sovereigns and banks in the euro zone." Debt notorious sinners are to leave the monetary union. "Is not a Member State willing to meet the convergence criteria permanently, there is the possibility of leaving the euro zone," it says in the paper.
What's the difference in the two stories? The CSU is the Bavarian branch of the CDU. The news is that this idea has spread, but its been publicly discussed at least since August.
The big story of the day is that France and Germany have been discussing a smaller eurozone. French and Germans explore idea of smaller euro zone
"We need to move very cautiously, but the truth is that we need to establish exactly the list of those who don't want to be part of the club and those who simply cannot be part," the official said.
As predicted, by socionomics and the declining social mood.
Social mood is also negative in Germany, but the media seldom cover it because Germans do not protest like the Greeks. Here's an article from Der Bild, a tabloid in Germany. Merkel's cash-All (Google translation)
But millions of workers are frustrated. Because: In our household, there is hardly any scope. The billion guarantees for bankrupt countries of Europe more and more pressing. For tax cuts is Chancellor Angela Merkel (CDU) provides just six billion euros. Rescue the planet burns in Merkel's money-all our hopes for relief? Read how big the giant planet in comparison to others is: With 233 billion euros in debt guarantees for sinners outshines everything else in the planet household universe.
A comparison of tax cuts versus bailouts and other spending programs leaves many Germans quite angry about the situation and with Merkel's performance. Is a breakup coming? I would bet on it.

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