With Ireland meeting its austerity targets, the Spanish and Greek economies grinding to a halt, and the Dutch coalition talks ending in Geert Wilders walking out of the negotiations last week #SNaFU!, triggering an austerity package deal post hastely signed by his former senior partners and docile Europhiliac, pOmo liberal Red/Green Left #watermelons, the Fiscom Agreement has started to fall apart even before it is fully implemented.
It caused the de facto European leader Angela Merkel to freak out #OMG in an interview with several regional papers last week, reiterating that the Fiscom "can’t be re-negotiated" – a response to the French Socialist presidential front-runner François Hollande. Right she is. The Fiscom seems to be the federasts' final redoubt before the euro will blow up in their faces. Here all the latest from Open Europe.
For those readers who enjoy the technical side, Zerohedge tells us just where we are right now: "Between credible and non-credible political and fiscal policies and a reflationary or deflationary monetary policy aimed at the financial system, Morgan Stanley provides a quick-and-dirty 'map' of where Europe finds itself and the four different scenarios that await this troubled region."Zerohedge (A still restive Europe...) has more on the sheer panic this week that gripped the Euro inner Holy of Holies - herr Schulz of the Gestapo Europarliament, and the Euro Prez. Rumpy Pumpy.
Following Nic Sarko's threats to close the French borders, in effect suspending the Schengen Agreement, #OccupyBrussels today has the scoop that the Greeks are poised to clear Athens streets of illegals, transferring them to newly built detention centers in the cool outskirts of Athens. Note the #histrionics much with their 'pogroms' LOOOOL
Combine all that with the final bit of news that Italy's techno puchist Mario Monti told newspapers on Thursday that "while budget discipline was needed, it must be accompanied by policies that drive economic demand (...) [they] come at a time when the political debate appears to be shifting, largely owing to the recent success of anti-austerity and populist candidates in France, Greece, Finland and the Netherlands, where the government fell this week over its EU-mandated budget-cutting plans. (...) >>> read it all in FT.
Do watch the vid above in which George Friedman, CEO of Stratfor explains that it took the Americans a civil war to decide who's sovereign, the states or the federal government. Let's hope it won't come to that in Europe amidst the uncertainties pertaining to a collapsing common currency. For all the evolving humanity has done over the last fifty odd years, apparently you still can't dictate to autonomous nations to hand over sovereignty without conquering them first. Mao was ultimately right: all political power comes from the barrel of a gun.
In the end, given the stress and the #FUBAR it's just plain good news.