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Calls For New EU Financial Order Increase As Total Meltdown Becomes Likely
Economists, top EU officials call for more regulatory power
Steve Watson
Infowars.net
Monday, Sept 29, 2008
With major European banks now failing, calls have increased for an entire restructuring of the financial system under a centralized EU supervisory body.
With Belgian-Dutch group Fortis becoming the first major European bank to buckle, British mortgage lender Bradford & Bingley also being nationalized, as well as several other banks failing in Iceland, Denmark and Germany, economists have warned that more are teetering on the brink and only a radical centralization of power in Europe can stave off financial ruin.
Earlier this month, German economist Daniel Gros warned in a report for the Centre for European Policy Studies (CEPS) that several European banks have become so large that their governments would no longer be able to save them. Should they fail no rescue would be possible because the economy of the home nations are smaller than the banks that reside within them.
Now, in an interview with Dutch newspaper Volkskrant, Gros warns that European giants like Deutsche Bank, Barclays and UBS (Switzerland) are dangerously close to folding.
The Deutsche Bank has 2, 000 billion euros of open credit, one fifth of the german economy, while Barclays has 1, 640 billion euros of open credit, more than the entire UK economy.
Gros has proposed that European Parliament balance the books of the affected banks and that a new system of financial supervision is created with a 12 member body to overlook the European financial market.
(Article continues below)
In October the European Commission will propose new rules governing how much banks must keep in reserves, and set rules on how regulators should act if a bank is in danger of collapse.
Top EU officials, including economy commissioner Joaquin Almunia, have stated that the EU should have greater powers to regulate and intervene in the operations of financial institutions across Europe.
“The latest events in financial markets have made it clear that the current model of regulation and supervision needs to be revamped,” Almunia has said.
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October 2nd, 2008 at 1:50 pm
“They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason”
http://www.youtube.com/watch?v=uw5dP5gy2Vs
–The Cornbread Mafia
October 1st, 2008 at 4:46 pm
They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason
http://www.youtube.com/watch?v=uw5dP5gy2Vs
October 1st, 2008 at 3:30 pm
Oh, how’d I know this was going to happen…Duh!
September 30th, 2008 at 8:45 am
Already predicted here. Should read this to see step by step how this was all done and to see the exact blueprint of what will happen time after time in every country unless this is exposed.
http://warofillusions.wordpres.....wer-lunch/
September 30th, 2008 at 2:14 am
HAS ANYONE SAW THE INTERVIEW WHERE SOME GAY GUY SAYS HE GAVE OBAMA A BLOW JOB WHILE HE WAS SMOKING A CRACKPIPE , I WONDERED IF HE INHALED WE NEED TO PUT LINKS AND MENTION THIS EVERYWHERE. PUT THE COMMENTS UNDER THE UTUBE VIDEOS WHO THINK HE IS A GREAT GUY. WE NEED TO INFORM THE MASSES ABOUT THIS CRACKSMOKING BISEXUAL WHOREMASTER WHO WANTS TO GIVE SEX EDUCATION TO 5 YEAR OLDS THIS SICKO WANTS TO CORRUPT CHILDREN
September 30th, 2008 at 2:02 am
Talk about the blind leading the blind! The EU are going to moniter all these banks! A fine trick for an organisation that has not audited its own books for the last 13 years!!!!!!
September 30th, 2008 at 1:41 am
Dear Mr. LaRouche:
My husband has a wonderful idea. What would it take to start a new Federal Treasury? Get people from all over the country to donate their gold and silver and reprint the gold and silver certificates?
I do not know what the legalities would be. That way when this fake money goes under we would be ready to start anew. No North American Union, no Amero.
It is time for the Federal Reserve to fall and the thugs to go to jail. I also believe the same fate needs to be dealt out for Paulson and the rest of his ilk.
I have been telling my congress men and women to listen to you and call you. I feel like I have walked into the twilight zone with Chuckie the crazy doll at the helm.
Thank you so much for being there. We would love to help anyway we can. Just let us know.
September 30th, 2008 at 12:49 am
“Hey hoy gotta go”, that is some interesting numerology, but please don’t think the USA, as it is supposed to be a republic founded upon the Constitution” is the institution that “needs to fall”.
In fact, it is the usurious Anglo-Dutch financier oligarchy which must fall. THEY are the scourge of God.
The Dark Ages were caused by the usurious practices by Venetian and Black Guelph banking houses.
Of course, since “usury”, as it was understood, was outlawed by the Christian world, other practices just as bad, if not worse, were forced upon the monarchs of the time. For instance, instead of demanding coin with interest, they demanded “conditionalities” such as, (surprise, surprise) having the Kings revenue flow through the bankers coffers. Of course, since the monarchs were in debt to the bankers anyway, this made “sense”. http://american_almanac.tripod.com/pbgbardi.htm
The “evil” USA has been OWNED by an Anglo-Dutch financier oligarchy, yet there are STILL MANY souls in the various governmental institutions willing to FIGHT against this soulless tyranny.
The House has just showed that it has some “spine” by REJECTING the fascist takeover of America.
Tell them, “thank you” but then ask them to please keep the chartered (essential) banks running by ISSUING GOVERNMENT CREDIT to them for the purposes of INFRASTRUCTURAL investments.
We need to go back to PRODUCING THINGS rather than producing “paper” and lies. http://www.larouchepac.com/
September 30th, 2008 at 12:46 am
Tighter And tighter the ropes that bind europeans are tightened .. those not welcome in the new face of Eurpope will be strategically removed through finacial manipulation until only one banking system is in control . All Current affairs are like watching the border of a jigsaw being shaped ..we all know what the big Brother picture gonna look like .. but like holiday makers standing mesmerized at the incoming tsunami we have no idea of the actual destruction that awaits.
September 29th, 2008 at 5:06 pm
Dr Neckbone said that he who got the money controls the goverment and i can vouch for this for the wife got the money in this house and she always telling me what to do.