IS THE EUROZONE 3% RULE A VALID BUDGET CONCEPT ?

                                                                                                                                               
The limitation placed on Eurozone countries not to exeed by more than 3% their Budget Objectives is questionable.  It is a laudable objective, but laughable !!!   What are the consequences when limits are breached ?

What happens when "reported" figures suddenly are found to be "all wrong" ?  When "suddenly" the EURO needs to be defended ?

Everything !!!  Financing is promised to Cyprus and Spain and perhaps also to Italy !!!

This Blog has already pleaded that the EUROZONE must undertake the creation of a legal structure.  The sooner the better !!!

However, for those citizens in the "EUROZONE" the consequences of the 3% rule are very direct !!!  It means that the Euro will depreciate by 3% each year, if not by more (never less) !!!

The value of monetary assets, like the change in your pocket, will devalue !!!  This is also true of pensions. Will Pension Funds, State or Private, cover or guarantee beneficiaries against "devaluation" ?

To be more direct, are there any Pension Funds for Politicians which are not guaranteed against inflation ? 

This question concerns EUROZONE countries but EU countries as well !!!

Will  this Blog get any help from anyone on this matter ? 
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HOLLANDE ET LES SALARIES DE PSA AULNAY

Avant de se rendre dans le studio 107 pour débattre avec Nicolas Sarkozy, le 2 mai dernier, François Hollande était allé à la rencontre des salariés de PSA Aulnay qui manifestaient à proximité contre la probable fermeture du site d'Aulnay.

"Après le 6 mai, si les français me choisissent, nous regarderons le sujet et nous aurons rendez vous" avait alors déclaré le candidat Hollande. Une déclaration porteuse d'espoir et suivie d'acclamations...

Aujourd'hui, les salariés de l'usine PSA Aulnay constatent avec amertume que la déclaration du candidat Hollande évoquait plus un "je vous ai compris" prononcé en d'autres temps et d'autres circonstances, qu'un engagement réel et précis !

Certes le 18 juin dernier, Arnaud Montebourg recevait les représentants de PSA Aulnay, la direction du Site et les élus locaux. Toutefois, ainsi que le notait la CGT, le principal responsable de la menace de fermeture, la direction centrale, n'était pas invité...

DML
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EU LEADERS AND THE EURO CRISIS

Jose Manuel Barroso, the President of the European Commission, is again leading the charge to greater European Integration ahead of the meeting in Brussels of the Leaders of all the EU member countries.

This two day meeting which starts tomorrow June 28, 2012 takes place at a time when there is again a EURO crisis, but this time bigger than in previous years.  Spain needs money (only 100 Billion Euros) to recapitalize Banks but will Italy also need help because of the rising cost of borrowing money ?

Barroso wants more integration politically, economically and fiscally !!!  He also wants a monetary union.  These are not new ideals !!!  He cannot, however, ignore the fact that there are ten other countries which do not have the Euro as their currency !!!

What Mr Barroso really needs is a EUROZONE TREATY which specifies all the controls and the obligations which are required to control a Currency like the EURO !!!

It is because Eurozone countries have remained "uncontrolled" since the creation of the EURO that the present problems have become so critical !!!  Have the ten other non-Euro countries begged for help ?  No, because each country has its own Central Bank !!!

Countries are as different as chalk and cheese !!!  Some are big, some are small !!!  The same solution or principle cannot be blindly applied to every country !!!  
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THE EUROZONE INQUISITION, AT LAST !!!

Once again all the EU leaders are on the alert because the EURO is reaching a crisis point. 

For those 17 countries which have the EURO as their currency the question is "What will happen now ?"

Greece wants a bail-out for the third time, Spain wants 100 Billion euros to refinance its banks, Italy is on the point of asking for help and Cyprus also wants help !!!  Portugal and Ireland have already been "rescued" but is that a guarantee they will not come back for more help ?

The non-EURO countries are wary because they do not want to be burdened with costs arising from saving the EURO. This is quite understandable.  Each non-EURO country bears its own costs which stem from protecting its own currency.

What is now glaringly obvious is that EUROZONE countries do not have the political structure required to legislate and impose common EUROZONE rules and controls.  These rules and controls must be contained in a separate Eurozone Treaty.  

After a Eurozone Treaty, the EU would still contain all the original members as specified in the Lisbon Treaty.  This Treaty, which is not "perfect" should perhaps also be "updated" !!!
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LA PREMIERE DAME DE FRANCE INTROUVABLE!

Ou est donc passée la Première Dame de France ?

Sur le site officiel de la Présidence de la République, elysee.fr, la rubrique jusqu'alors consacrée à la première Dame de France, entre "les présidents depuis 1848" et "les Institutions de la 5ème République" a disparu...!!! 

Pourquoi?

 DML
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CAMERON SAYS IT IS "MORALLY WRONG" TO AVOID PAYING TAX !!!

David Cameron must understand that, anyone who pays tax that he could avoid paying, should be locked up as being insane !!!

The basic rule is that it is not a crime to legally avoid paying tax !!!  The issue of whether it is moral to avoid paying tax, does not merit consideration !!!

Does David Cameron realise that there are many experts in the City who earn their living by advising clients what to do ?   Does he want to create more job losses ?

He should have a word with Chancellor George Osborne.  He perhaps needs advice from real tax experts on how to draft watertight tax legislation !!! 

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THE EUROPEAN COURT OF HUMAN RIGHTS HAS NOT CHANGED AT ALL !!!

The EUROPEAN COURT OF HUMAN RIGHTS (ECHR) has not changed since the last grand meeting in April !!!  This organisation has, however, resisted all reforms for a long time !!! 

It has a backlog of 150 000 cases !!!   Is there not something radically wrong ?  Is it a Human Right or is it a Human Obligation to have to wait so long for Justice ?

When will Sir Nicolas Bratza, President of the ECHR, act ?  He said after the Brighton Conference in April, that the Brighton Declaration "would not change the way we do our jobs".  Really !!!  Does he really want to go on as before ? 

Indirectly Sir Nicolas pleads that his courts must remain independent !!!  Everyone agrees !!!

However, is it not time that Sir Nicolas accepts graciously that changes are "perhaps" warrented ?  Can he defend that Backlog of 150 000 cases ?  Must criminals wait years for justice, eternally in fact ? 

Should Sir Nicolas himself not be alerting his superiors that changes in the definition of the objectives of his Courts must be urgently undertaken ?  Kenneth Clark could be helpful.    

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UEFA-EURO 2012 : FRANCE QUALIFIES FOR THE NEXT ROUND !!!

The least said the better.  Reality is the fact that France lost against Sweden, but because England beat Ukraine, France was saved and qualified for the next round !!!

French newspapers are not very eloquent about France having again being "saved" by England !!!  De Gaulle would turn in his grave at the thought !!!

But, is this not what Sport is all about ?  All countries have their teams, all teams have their idols, and everyone must recognize the fact that there is only one winner in every competition !!!  But, give credit where it is due !!! 

In the next round, will France beat Spain ?  Will England beat Italy ?

In the end, who will crow the loudest ?  The winner, of course !!!  
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FRENCH ELECTION 2012 N° 2 - PARACHUTED CANDIDATES

"Parachuting" politically well known personalities unexpectedly, into constituencies which are considered safe and easily winnable, is sometimes a real gamble.  Local electors want local representatives who understand their problems !!!

The distress of Segolene Royal was all over the European Press and on television recently. 

Another example is Jacques Lang, a former Socialist Minister in the Mitterand era who was parachuted into the Vosges area in Eastern France.  He too was not accepted and was expectedly beaten.

Melenchon, the Left-Front leader, parachuted himself into his constitiuency with the avowed aim of beating Marine Le Pen, the leader of the National Front.  He failed lamentably in the first round when he did not get the minimum 12.5% of votes to qualify for the next round. 

Claude Gueant, the former Interior Minister of Sarkozy, was parachuted into a constituency in Boulogne Haut de Seine but was beaten by another UMP candidate !!!


There were at least two successful candidates who were parachuted !!!  Henry Guaino, the Sarkozy Speech-writer got help from a candidate who withdrew.  He will be part of the team who will try to reorganise the UMP party in time for the next election !!!

Likewise, the faithful Sarkozy Prime Minister during 5 years, François Fillon, was given a safe seat in Paris and won comfortably. 

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PENSEES POUR SEGOLENE ROYAL...

Ainsi Segolene Royale, candidate malheureuse à la Présidentielle 2007, puis aux Primaires Socialistes de 2011, vient de subir une nouvelle défaite aux législatives à La Rochelle .

A-t-elle été victime de son "parachutage" organisé par les instances dirigeantes du PS ?  victime de l'obstination de Falorni ?  victime  du tweet d'encouragement que la "drôle de Dame" Valérie Trierweiler, nouvelle compagne de François Hollande, avait adressé à son concurrent, au mépris de son devoir de réserve ?  Sans doute tout à la fois ...


Les capacités de résilience de Ségolene Royale sont grandes, elle l'a souvent prouvé, mais il lui faudra encore beaucoup d'énergie pour éviter les chausse-trappes à venir, y compris celles de son propre parti. 

DML

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FRENCH GENERAL ELECTION RESULTS 2012 - N° 1

To put it quite simply, the Socialists in France have "Swept the Board" !!!

The Socialist Party, without the help of left wing Allies, have a majority in the National Assembly to add to the majority they already have in the Senate.  This gives President Hollande a free hand to do as he wishes !!!

The final figures are as follows; 

Socialist Party Deputees          320
Left Front                                     10
Greens                                         19
     sub-total                                        349

Modems - Centre Party                         2

UMP Party                                           220

National Front                                        3

Others                                                    3
                                                          ---------   
                                     Total               577    

Added to this landslide victory is the fact that all the Ministers in the Government of Prime Minister Jean-Marc Ayrault were elected, which means no changes are necessary.  However, the door is not closed with respect to the inclusion of one or two Communist Ministers later on.

There is only one small problem which concerns any future wish the Socialists may have to change the Constitution.  The majority required is 3/5ths of the total number of deputies in the Senate and in the Assembly, which is 555.  The Socialists only have 517 or 527 members who could vote for their motion.

However, the possibility to have recourse to a  General Referendum exists, should this be considered necessary. 
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WHAT WE ARE WATCHING IN THE FRENCH ELECTION TO-DAY !!!

No comments of a political nature are permitted in France to-day.  Herewith therefore, without any comments, what French voters will be following in particular this evening on the their TV screens !!!

1) Will Segolène be "dumped" because of the Trierweiler "Tweet" ?

2) Will the National Front of Marine Le Pen get 3 or  more MPs in the next French Parliament ?

3)  Will the Socialists without its Allies get a majority in the the French Parliament ?

4)  How many of the 17 Women and 17 Men Ministers in the Government of the Prime Minister, Jean-Mark Ayrault, will need to be replaced because they were not elected ?

5)  How many, and who, major political actors will not be re-elected to-day ?

There are of course many other considerations, but these will serve as a good thermometer !!!
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FINAL ROUND OF VOTING IN FRANCE TO-MORROW, JUNE 17, 2012

Today is supposed to be a day of rest from political campaining in France to give voters the breather required to calmly think about whom to elect !!!

Many candidates however, already know what result to expect, but are wondering how or why or when everything went wrong for them !!! 

36 Candidates obtained more than 50% of the votes cast last Sunday and were directly elected.  This leaves 541 who will be elected to-morrow, even if they do not get more than 50% of the votes !!!

There are numerous seats where 3 candidates are still fighting it out !!!  This includes about 30 seats where the   candidates are from the three major parties, i.e. the Socialists, the UMPs and Extreme Right or National Front.

In fact there is a dog fight between the UMP Party which supported Sarkozy, the former President and The National Front, or extreme right, lead by Marine Le Pen. The UMP secretary Jean-François Copé refused point blank to discuss any mutual withdrawal of candidates with the NF.

In the first round this lead to avoidable gains by the Socialists.  It already means that the Left Wing Alliance of parties will have a majority the national Parliament.  What remains to be seen is whether the Socialists alone will get a working majority.

What also is at stake to-morrow is whether the National Front will get its first elected MPs.  Marine Le Pen polled 6.4 million votes (or 17.6%) in the Presidentials and FN candidates polled 3.5 million votes (or 13.6%) last Sunday, yet FN has no elected MPs. 

Late to-morrow evening France will get the final verdict but already many former MPs have started moving out of their official offices, including 106 sitting MPs who did not present themselves for re-election !!!

Next week the new MPs will move in and fight for the best offices !!!
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EUROZONE "HAS" OR "HAS NOT" WHAT ?

The EUROZONE "has" :

   - 17 members, small countries and big countries,
   - countries which live from what they produce, countries which live from services they supply.
   - all these countries have independent Governments.
   - all these countries have the EURO as their currency,
   - all these countries could "benefit" from the "Stability Fund" which has been created to protect their "EURO", but,
   - all these countries could be obliged to contribute to the "Stability Fund"  if "rescues" incurr losses !!!

EUROZONE "has not"

   -  the control over the management of affairs in each member country,

   - if coutry members overspend, for whatever reason !!! 
   - if budget structures are "wrong"(structures justifiably vary in each country), 
   - there is no central Eurozone control.

Effective Eurozone control can only come when the 17 countries in the Club adhere to the rules of one and the same TREATY !!!

The EUROZONE Club needs an independant TREATY away from the EU to properly govern its 17 members !!! 

The imminent crisis during the coming days, will highlight the present shortcomings;  other EU members are not directly involved and will oppose all and any attempts to prevent "EUROZONE" legislation to be introduced in the framework of the "EU" !!!  Is that not normal ?    
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HISTORIC DAYS FOR EUROZONE AND THE EU

Before the end of the month of June 2012, the EU will find out if Greece decides to default by leaving the EURO and Spain will make known the essential Information contained in the AUDIT REPORT.

Can the EUROZONE cover the financial needs of these two countries and any other problems that Portugal and Ireland may have ?

The non-EURO EU countries do not want to underwrite losses arising from loans or aid given to bankrupt EURO countries, even if all countries are still in the EU and a Pacte for Financial Stability is being ratified. 

Every non-EURO country protects its currency on the Financial Markets.  The EUROZONE must do the same and needs to set up a closely supervised reporting system, probably in Brussels.

This is nothing new.  Multi-national and Multi-continental companies all have reporting systems to know what risks their companies have (what the level of their "exposures" is and in which currencies).  This permits these Groups to "cover" certain positions considered financially dangerous with exchange contracts.

Some experts in the EUROZONE do not appear to be doing their jobs !!!  Situations like those of Greece and Spain came as a surprise !!!  This is inadmissible !!! 

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VALERIE TRIERWEILER, LE PRINCIPAL DEFAUT DE FRANCOIS HOLLANDE ?

En écho aux propos de Arnaud Montebourg qui, en 2007, déclarait que " le principal défaut de Ségolène Royal,c'est son compagnon" (François Hollande à l'époque...),on peut dire aujourd'hui que le principal défaut du Président François Hollande, c'est sa "drôle de Dame",Valérie Trierweiler!


DML

FRENCH ELECTION - ROUND TWO ; A TWEET INFLAMES SENTIMENTS !!!

President Holland's second "Companion", Valerie Trierweiler, sent an unexpected "tweet" to Olivier Falorni, saying "Have courage, you who have had the courage to fight the cause of your electorate for so many years !!!".

This has been a real "bombshell" for President Hollande and the Socialists !!!  The other Candidate who opposes Olivier Falorni is none other than the first "Companion" of President Hollande, by the name of Segolene Royal, who is also the mother of their four children !!!

The President was certainly happy to accede to the request of Segolene (who devotedly served him during his election campaign) to be the next Speaker in the National Parliament.  For this she needed a "safe seat" in the current General Election.

She got the "seat", except that afterwards a former well-known local political agent of the Socialist Party decided also to stand !!!  He has refused to withdraw !!!

This "Tweet" has provoked more than 50 000 others, perhaps 100 000 by now and has made President Hollande a laughing stock in France just one month after his election !!! 

All the "Heavyweights" in the Socialist organisation have flown to the aid of Segolene !!!  Will this have any effect ?  We shall see next Sunday !!! 
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COURAGE A OLIVIER FALORNI !

Valérie TRIERVEILER, la compagne de François Hollande et donc nouvelle "première Dame " (!) vient de souhaiter "bon courage à Olivier Falorni qui se bat aux côtés des Rochelais depuis tant d'années" et qui affronte Ségolène Royal dimanche prochain.

Ségolène Royal, la précédente compagne de François Hollande et la mère de leurs quatre enfants, qui a le soutien officiel du Président de la République, appréciera !!!

Est ce ainsi que Valérie Trierveiler, qui refuse d'être une potiche, conçoit son rôle ?

Ou est ce le reflet du double langage de François Hollande qui exprime par la voix de sa compagne ce qu'il n'ose pas dire ?

DML

DAILY EXPRESS EU EXIT DRIVE FOR GB IS FLAWED !!!

The Daily Express crusade has only one, sole aim !!! That is to get Great Britain out of "EUROPE" !!!  This is neither acceptable journalism nor traditional journalism !!!

The "problem" of Europe changes every day !!!  Watching these changes requires patience !!!  Understanding !!!  One must evaluate the changes in their context, evaluate their effect short and long term !!!

One must have an independent opinion on what should be done or not be done, either short term or long term !!!

The Daily Express simply says "We must get out" !!!  Does the Daily Express explain to David Cameron "WHY" ?

What does the Daily Express consider should be urgently done now to correct past errors in the EU ?  Why should David Cameron "jump" now and organize a referendum on the EU ?  The Labour Party never "jumped" !!! 

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FRENCH ELECTION RESULTS - FIRST ROUND

The first round of voting revealed a record number of abstentions, i.e. 42%. 

The Socialists are close to obtaining the majority in the National Assembly without needing the help of smaller traditionally allied parties. This should help the new President, François Hollande, to obtain the majority required for most of his projects.

Next Sunday voting will again take place in all the   constituencies where no candidate obtained more than 50% of the votes.  Frenetic "horse-trading" is now going on to encourage some "small hopers" to withdraw in favour of another candidate.  These withdrawals must be notified officially before 18 PM on Tuesday. 

Ségolène Royal who has the aim of becoming the next Speaker of the French parliament, was parachuted into a "safe" constituency, only to discover that a former Socialist, Olivier Forlorni, who had been expelled from the Party was standing as an independent !!!  Revenge is sweet, he has no intention of withdrawing !!!

François Bayrou, an eternal Centrist on the political scene and in his local constituency, came only third with 23.6% of the votes, due probably because he said "Vote for Holland and not Sarkozy".  Revenge was instant !!! 

Marine Le Pen won her duel with Mélenchon, who purposely chose her constituency after she polled 6 million votes in the Presidential Election and he only polled 4 million.  On June 9, she polled 42% of the votes against 21% for Melenchon who has now withdrawn in favour of the Socialist candidate. 

Finally, Henri Guaino, who so successfully wrote the speeches for Sarkozy, polled only 28% of the votes in his first election as candidate.  It looks likely that he will be elected after a former UMP, now Independent, withdrew after polling 23% of the votes !!!

After the current "Horse-trading" there may be a few other stories soon.  
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IIMPRUDENT REACTIONS TO SPANISH FINANCING REQUEST ?

Reactions have been swift concerning the Spanish request for "loans" to cover the refinancing of Banks in Spain !!! 

As stated in the article in this Blog yesterday (Prudent Spain "jumps" the gun !!!) it would seem that Spain already knows full well what the AUDIT REPORT, which will not be ready for the next 15 days, will contain !!!

Any real, worthwhile, information about why (only) 100 Billion Euros of "loans" (not subventions !!!) are required has not yet been supplied.

Has Chancellor Merkel already identified who in Spain is responsible for this "sudden" crisis ?  There must be several reasons, not just one, i.e. the international financial situation !!!

Spanish Banks seem to be squealing because they have lost money due to the downturn in the holiday housing market.  Were these banks not covered by insurance for the investments and loans they made ?


Who would make loans to anyone in similar conditions, without any real information ?  No taxpayer, but perhaps a top level executive in the EU or "EUROZONE" ?

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MELENCHON: LA DECULOTTEE !!!

Jean-Marie Le Pen voulait "lui enlever son caleçon". C'est  quasiment chose faite avec la cuisante défaite infligée à  Jean-Luc Mélenchon, balayé par Marine Le Pen dès le premier tour des législatives !!!

DML

PRUDENT SPAIN "JUMPS" THE GUN !!!

Despite recently, but regularly, issuing comforting statements about the condition of the Spanish economy, Spain has suddenly decided that, now is better than later, to seek EU financial help !!!

Why, suddenly, now ?  It seems that Spain wants to be "served" before the expected "crisis" in Greece "blows-up", after the election next Sunday, June 17, 2012 !!!

Spain has slowly admitted that its financial sector is in difficulty.  Initial figures indicated that capitalisations of Banks amounting to 40 Billion Euros, were required !!! Spain also seemed to maintain that National Finances were "solid", not the problem !!!

Now, suddenly, Spain requires help !!!  The last "figure" published in the Press reveals the "help" required is 100 billion Euros !!!  However Spain is being prudent !!!  It says that there are "ongoing" audits and that the results will not be available for Two Weeks !!!  Really ?  Audits take time, true !!!  The  wording of the Report at the end is what really takes more time than it should !!!

Does this mean that Spain in fact, had no control over their Banks during recent years ?  If this is true, the National Accounts of Spain in recent years have now also become somewhat suspect !!!

When Greece, two years ago, sought help, they too were talking about 20 Billion EUROS.  Greece has obtained at least 230 Billion Euros of "help" since !!!

Who pays for all the Greek aid ?  EU taxpayers of course !!!  With Spain one could say "Here we go again" !!!  Finally, is the problem not that the EU Central Bank has absolutely no idea what is going on in Banks in EU countries ?  
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FRANCE VOTES THIS SUNDAY, JUNE 10, 2012 !!!

This will be the first round of voting.  Those candidates who obtain 50% + 1 vote of all the votes cast, are elected.   Those candidates who obtain less than 12.5% of the votes are eliminated !!!  

There will be some surprises, that is sure !!!  There will be those who had safe seats and who were not re-elected first go but also those who had seats, safe or not, but who have also been eliminated !!!

There are also those standing for election and who were named as Ministers in the first Government of the new Prime Minister, Jean-Marc Ayrault.  The new President, François Hollande has said those Ministers who are defeated will be replaced !!!  There are election problems for at least 10 of the Ministers !!!

Finally, the geographic boundaries of numerous constituencies have been modified to ensure as much as possible, that the number of electors in each is the same !!!   Also, there are now 12 MPs who represent French people working and living abroad !!!

There are now, therefore, 577 MPs to be elected !!! When all the results are known late tomorrow, the "Horse-Trading" will begin, early Monday !!!

Which of the minor candidates can be persuaded to withdraw in favour of someone better placed ?  There will be some very interesting revelations !!!

Follow this Blog, as one says !!!        

TOO SOON FOR BRITISH REFERENDUM ON EU !!!

David Cameron is right !!!  It is much too early to accede to demands for a "referendum" on "EUROPE !!!

The EU, or should one say the "EUROZONE", has got itself into a mess and is now studying all possibilities of how to get out of this mess !!! 

Cameron got it right by using the British "VETO" and thus refusing any future EUROZONE taxes on banking operations !!!  For this the "moth eaten" EU Lisbon Treaty, was still valid !!!

Before inviting British voters to vote on a referendum, "in or out" of the EU, the EUROZONE must get its house in order and propose a EUROZONE Treaty, to be signed by any willing participants, particularly Greece !!!  

Britain is not in the EUROZONE !!!  Britain is in the EU, just like other non-EURO countries.  The EU also has member countries which have the EURO as their currency.  At present this Treaty is called the LISBON TREATY, but it out of date, flawed, incomplete and needs to be completely overhauled !!!

After all that, a British referendum on the "EU" could make sense !!!  But when ?  Not to-morrow !!!  Perhaps after 2013 when Merkel faces re-election ?  Or 2014 when EU MEP's are re-elected or not !!!
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PRESIDENT NORMAL MAIS PAS PRESIDENT LEVE TOT

Pour assister aux commémorations du débarquement, le Président Normal, François Hollande, s'est donc rendu en Normandie, en voiture.

Les équipes de BFMTV qui suivaient le président ont constaté que le cortège présidentiel roulait à plus de 160 km heure, prenait certaines libertés avec le code de la route, et donc avec les engagements de François Hollande. Le tout en contradiction totale avec la charte be bonne conduite que le President a fait signer à l'ensemble de ces ministres.

Le Président craignait il d'être en retard ? Rechignait il à se lever plus tôt?  Ceci pour mieux se démarquer de son prédécesseur qui s' identifiait à "LA FRANCE qui se lève tôt"?

DML

SHOULD "EUROZONE" AID BANKS LIKE "GREECE" ,

The new EUROZONE crisis is now Spain and the Banks in Spain, which have reported astronomically high losses !!! This has led to Manuel Barroso, the President of the European Commission, wondering whether Banks in Spain should be bailed out in the same way as Greece has been bailed out. 

There may be some good reasons why Countries should be bailed out, but the same principles cannot be adopted automatically for deciding whether Companies or Banks qualify for "Bail-out Help".

There are many different types of Banks.  Basically they all have a commercial objective, which is to make profits for the Shareholders.  The risks they take on behalf of their shareholders lead to a profit or loss;  shareholders suffer the losses and get the profits !!!

Banks can be;
     - Local state owned + controlled
     - Local shareholder owned + controlled
     - Internationally owned + controlled
     - Local with branches abroad
     - Local with specialized activities

In fact there are many types of banks but only those owned and controlled by the state should be considered for "Bail-out aid".  The aid should come from the Government which owns and uses the Bank !!!       

The EUROZONE should have a clear treaty where member countries automatically know how any costs from "Bail-out Aid" to other countries (not directly to banks !!!) will be shared. 

This is not an EU problem, hence it is time that a separate "EUROZONE TREATY" is concluded and adopted !!!
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DOES A EUROZONE TREATY REALLY EXIST ?

In the context that Mr Barroso, President of the European Commission, wants to consider whether  the EUROZONE should "aid" Banks, in the same way as  Greece has been "aided", the real question is whether a EUROZONE TREATY is already in place which would permit this ?

Alternatively the question is,  which countries would be obliged to accept the costs of "saving" Banks or to cover losses by such Banks in the "Eurozone" ?

The EU Treaty exists !!!  It is called the "Lisbon Treaty".  It is not a good example of what should happen.  It was "waived through" parliament in all the EU countries by politicians and was not voted on by electors in any country except Ireland !!!

Now EUROZONE leaders try to bend EU rules with interpretations that would give them unrestricted powers to do what they want in the name of the EUROZONE !!!

There is no "EUROZONE TREATY" !!!  The "Eurozone" is just a club !!!  Is it not therefore, dangerous, to permit politicians to run wild without a leash and commit taxpayers and electors to pay for the consequences ? 

Banks are not Countries !!!  The next article will highlight this !!!

FRENCH GENERAL ELECTION STORIES - N° 4 (UMP POLL)

With reference to story N° 2 (The war of the new leaders) published on 27 May 2012, an Opinion Poll has just been carried out for the French newspaper "Parisien Libéré".

The object was to discover the popularity of the three main leaders of the UMP party.  The results were as follows;

   François Fillon                     48%
   Alain Juppé                          33%
   Jean-François Copé            12%


The general impression today, one week before the first round of voting next Sunday, is that the Socialists are actively campaigning to get a working majority in the National Assembly.

The National Front is also doing all it can to get its first MP's elected.

The UMP party is making a less impressive impact, which may mean that the Socialists may get the working majority they are aiming for.  This in turn may lead to changes in the organisation of the UMP party at its annual convention in the autumn.  

LA PREMIERE DAME NE SERA PAS UNE POTICHE...

La participation de Valérie Trierweiller à la rédaction de PARIS MATCH a donc été confirmée.

 

 

La compagne du Président François Hollande avait d'ailleurs affirmé et notamment déclaré au TIMES qu'elle ne serait pas une "potiche".

 

 

"Potiches", les épouses de nos précédents Présidents de la République ?

 

 

"Potiche" Madame Chirac ? Cette dernière aura certainement apprécié !!!

 

 

DML

EU DESTINY IN THE HANDS OF THE ELECTORS !!!

The  EU, because of its treaties, never takes into account the effect of elections in any of its member countries.  EU politicians are elected every 5 years and afterwards, nothing, not even national elections can interfere with their EU  "sinecure" !!!

This Blog has stated several times that this is something which must be changed when ultimately the Lisbon Treaty is revised !!!  The EU must be made to feel the wind of change in each country member !!!

The coming two or three weeks will see the result of  elections in France, where the Socialists will probably obtain a good working majority in the National Assembly.  This would enable the new President Hollande to consolidate the good impression he has made in the international arena recently !!!

Also on the 17th of June the result of the Greek vote will be made known !!!   Will Greece remain in the EUROZONE or not ?  The repercussions of the result of this vote will be many.

Inside Greece there could be panic.  There could be a civil war.  What else can one expect when the rights of civilians are flouted ?

In the EU there will also be panic, but also, perhaps, relief !!!  If Greece leaves the EURO it will be the end of more aid to Greece !!! 

Then however, the spectre of helping SPAIN will arise immediately !!!  And then ITALY ?  And then Portugal again ?  And so on, and so on again ?

No !!!  There is another solution, if, and this is a big if, there is a politician with character and guts who insists it is time to revise the Lisbon Treaty (and others) to update the rules of the EU !!!

The Lisbon Treaty has created "current" problems, but it also has "permanent" flaws which must be revised !!!

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