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Thread: German government forced to hand over secret documents that exposed euro flaws

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    Default German government forced to hand over secret documents that exposed euro flaws

    German government forced to hand over secret documents that exposed euro flaws - before they became a reality.


    • Documents highlight concerns raised by Helmut Kohl aides before euro was introduced
    • Files produced before 1998 also highlight Greece as a 'potential catastrophe'
    • Documents suggest 'Kohl administration misled the public says Der Spiegel magazine


    The German government has been forced to hand over hitherto secret documents that expose the flaws of the euro - and the misgivings of European politicians - in the years before it became a reality.

    Der Spiegel news magazine made a successful request for the release of the euro files at a time when the odds on Greece quitting the common currency within 18 months rise to 75 per cent and the chances of a complete shattering of the eurozone have never been higher.

    Born in 1998 and introduced across the continent four years later, the euro was always a time bomb waiting to go off. Many of Helmut Kohl's aides had huge doubts at the time - and pinpointed Italy as the weakest link.



    Firefighting: The odds on Greece quitting the common currency within 18 months are now 75 per cent and the chances of a complete shattering of the eurozone have never been higher



    'The documents from the Kohl administration, kept confidential until now, indicate that the euro's founding fathers were well aware of its deficits.
    And that they pushed ahead with the project regardless,' said Spiegel when it broke the news of the great euro con trick on the people of Europe today.
    Hundreds of pages of German government documents from 1994 to 1998 stated clearly that Italy - now one of the floundering southern European euro states - should not have been allowed to join.

    Later on the files bring up another country that was poised for catastrophe: Greece.

    Aides warned Kohl - who, along with De Gaulle in France relentlessly drove the European Project onwards as a bulwark against future war - that Italy's austerity measures taken at the time were merely 'window dressing.'




    Early doubts: Newly released documents say that before the euro currency was introduced in 1998 many of German Chancellor Helmut Cole's (pictured) aides had raised concerns


    Spiegel dubbed the information in the files as 'Operation Self Deception.'
    The Germans seemingly knew they were driving the continent into a fiscal cul-de-sac but went ahead with it anyway.

    On February 3, 1997, the German Finance Ministry noted that in Rome 'important structural cost-saving measures were almost completely omitted, out of consideration for the social consensus.'

    On April 22, speaker's notes for the chancellor stated that there was 'almost no chance' that 'Italy will fulfill the criteria.'

    On June 5, the economics department of the Chancellery reported that Italy's growth outlook was 'moderate' and that progress on consolidation was 'overrated.'

    Horst Koehler, a man who later became German president but at the time was the German chief negotiator in the Maastricht Treaty negotiations, concluded that Italy had not fulfilled the conditions 'for permanent and sustainable deficit and debt reduction,' and that it posed 'a special risk' to the euro. But Kohl overrode him.

    'The documents that have now been released suggest that the Kohl administration misled both the public and Germany's Federal Constitutional Court,' said Spiegel.

    The paperwork comes at a time of rising dissent in Germany among workers that it has become the banker for more profligate nations.



    Not a convert: Hundreds of pages of German government documents from 1994 to 1998 stated that Italy should not have been allowed to join the common currency



    They show Kohl desperately wanted to believe that Italy was 'cleaning up its act' even when his own advisers told him it wasn't. On April 3 1990 the
    German embassy in Rome warned that the risk Italy represented to fiscal harmony should 'not be ignored.'

    Three months later, when Italy had secured its participation in the euro, Italy admitted its bookkeeping was less than exemplary and that reforms planned at Maastricht had not been reached.

    Spiegel added; 'The message the documents convey is that political opportunism will ultimately prevail.

    A monetary union amounts to more than shifting several billion euros back and forth. It is also a community of fate. Shared money requires shared policy and, in the end, shared institutions.

    'The euro is now in its 14th year, and after two years of ongoing crisis, there is a growing realization in Berlin and other capitals that the status quo cannot continue. All reform efforts still resemble small steps to nowhere.'

    Source: Daily Mail (8 May 2012)



    Wake up and smell the coffee.


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    We're literally seeing the repeat of America's Articles of Confederation debacle:

    Quote Originally Posted by Commonly acknowledged weaknesses of the AOC
    • A loose confederation of states, not a strong union with extensive central powers.
    • The necessity to have two-thirds (nine of 13) of the states approve proposals before implementation.
    • The necessity to have all of the states approve amendments to the Articles.
    • The vesting of executive authority in congressional committees, not in a single individual.
    • The loosely organized federal government created by the Articles quickly demonstrated some glaring weaknesses.
    • The central government lacked the power to regulate trade, levy taxes, and impose tariffs. No uniform paper currency or coinage was authorized - money from many states and of differing values was in circulation.
    • The central government also lacked control over foreign affairs, allowing a deplorable situation in which individual states sent envoys to foreign states. Some states had created their own armies, others their own navies.
    The said weaknesses are existent in today's European Union. As long as the governments and economies of the EU continue to remain separate the Euro won't work.

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    And thus all the more reason why we should get rid of the " European Confederation" and return to the collection of states that existed before. A kind of EFTA (with a, to a degree, common market) and Western European Union (alliance) will do just nicely. No to a bunch of unelected officials that would run a United States of Europe.



    Wake up and smell the coffee.


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    Quote Originally Posted by Tuan Belanda View Post
    And thus all the more reason why we should get rid of the " European Confederation" and return to the collection of states that existed before. A kind of EFTA (with a, to a degree, common market) and Western European Union (alliance) will do just nicely. No to a bunch of unelected officials that would run a United States of Europe.
    A closer integration is more likely to happen than a total breakup of the Eurozone and the EU.
    No to a bunch of unelected officials that would run a United States of Europe.
    US Congresspeople aren't unelected but elected directly by the citizens. All the EU needs to do is make the EU parliament the federal parliament and member states' parliaments into "local-state" parliaments. EU citizens would directly elect MEP candidates. It would be a first in history to have a continent-wide election tbh...

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    Quote Originally Posted by Dušan View Post
    A closer integration is more likely to happen than a total breakup of the Eurozone and the EU.
    That's what you hope. By the looks of what is going on now it is more likely that the Euro will fail and the EU will fall to pieces over the coming years. And the publication of such documents as hinted on above are only likely to increase the speed. Particularly when the rest of the dirty laundry will be shown to the public.

    Quote Originally Posted by Dušan View Post


    US Congresspeople aren't unelected but elected directly by the citizens. All the EU needs to do is make the EU parliament the federal parliament and member states' parliaments into "local-state" parliaments. EU citizens would directly elect MEP candidates. It would be a first in history to have a continent-wide election tbh...
    Nice fantasy. Won't happen. Simply because no one wants that European Union and that's the reason why there is no democracy because if there was democracy the first point on the federal agenda to be decided by referendum would be the total and complete disbanding of the European Union.



    Wake up and smell the coffee.


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    Quote Originally Posted by Tuan Belanda View Post
    That's what you hope.
    What, I hope? I'm politically neutral on the matter of the EU. I was only pointing out the obvious.

    By the looks of what is going on now it is more likely that the Euro will fail and the EU will fall to pieces over the coming years.
    Greece will be either kicked out or go back to the drachma on its own accord. The ECB has a 800 billion euro bailout fund that will safeguard the Euro's future and protect other PIIGS countries from going under. Greece's case was simply they were too late to rescue.

    And the publication of such documents as hinted on above are only likely to increase the speed. Particularly when the rest of the dirty laundry will be shown to the public.
    European public is too divided to unite and take action against the European Union.

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    Quote Originally Posted by Tuan Belanda View Post

    Nice fantasy. Won't happen. Simply because no one wants that European Union and that's the reason why there is no democracy because if there was democracy the first point on the federal agenda to be decided by referendum would be the total and complete disbanding of the European Union.
    I guess when the Chinese people advance to the space age the Dutch will be still stuck in their modern concrete jungles jutting around in tiny spaces...

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    Quote Originally Posted by Dušan View Post
    I guess when the Chinese people advance to the space age the Dutch will be still stuck in their modern concrete jungles jutting around in tiny spaces...
    Try being worried about Macedonia first.



    Wake up and smell the coffee.


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    Quote Originally Posted by Tuan Belanda View Post
    Try being worried about Macedonia first.
    I've worried all I can. NATO has been adamant about not letting Macedonia join the organization which means another Balkan war will break out soon... I am just waiting for that event.

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    Quote Originally Posted by Dušan View Post
    What, I hope? I'm politically neutral on the matter of the EU. I was only pointing out the obvious.
    You're not neutral. You're just trolling as a Eurocrat now. We know you, Dušan.


    Quote Originally Posted by Dušan View Post
    Greece will be either kicked out or go back to the drachma on its own accord. The ECB has a 800 billion euro bailout fund that will safeguard the Euro's future and protect other PIIGS countries from going under. Greece's case was simply they were too late to rescue.
    Bullshit. That money went to corrupt officials and bankers at the expense of Europe's sick, infirm, employees, parents, children etc. No one was bailed out apart from the banks.


    Quote Originally Posted by Dušan View Post
    European public is too divided to unite and take action against the European Union.
    Yap. You're clueless. Remember a couple of 2005 referenda and every single European election. The same can happen with strikes or even rebellions.



    Wake up and smell the coffee.


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