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They are winning.

That is also my surmise. It won't be cheap. They will have a significant amount of bailing to do. But the EPP will pay any price and bear any burden provided it promises to result in crushing all others beneath their heel. Paying and bearing less so that all may prosper -- not so much. So it seems to me.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere." (But it helps!)
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jun 10th, 2011 at 06:11:41 PM EST
[ Parent ]
I should say "so it seems at present." We have the possibility that what may be unleashed will over top all, given the weaknesses present in German banks and the ECB. Perhaps that is what you were referring to with your "be dominated by others" comment?

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere." (But it helps!)
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jun 10th, 2011 at 06:19:54 PM EST
[ Parent ]
The "dominated by others" reference was simply to the fact that there are no European great powers, only former European great powers who have not understood that yet.

So we may hang together or we may hang separately...

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Jun 11th, 2011 at 06:22:26 AM EST
[ Parent ]
there are no European great powers,

Especially true regarding economic weight considered by nation, and definitely not true when considered as the EU. This is where Germany is winning the battle by risking the war. Perhaps a union of the (currently) surplus countries, if accompanied by more political and fiscal union, would count as a great power, but how likely is that given the current crop of dick-heads on offer as "leaders"?

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere." (But it helps!)
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Jun 11th, 2011 at 10:02:31 AM EST
[ Parent ]
German behavior makes sense in that the oligarchs have concluded the party is over regardless. Time to scavenge whatever booty is left and set sail for the high seas.
by Upstate NY on Sat Jun 11th, 2011 at 10:40:32 AM EST
[ Parent ]
It seems to take lots of time to infiltrate enough organizations so that the levers of control are operated by like-minded people. The institutions are media, academia, government, and the ones who sought to control these sat on corporate boards, especially on banks.

It's easy to see it happening quickly now all over the world. In the USA, it is laughingly infiltrating into our elementary schools (laughingly, I say, because we have politicians here writing textbooks for the pre-10 year olds).

It's a matter of organizing now outside of media, forcing change in the part of academia which hasn't gone over to the business wing. What other institutions are there? Politics changes last, obviously, since they colonized that first.

by Upstate NY on Fri Jun 10th, 2011 at 08:18:47 PM EST
[ Parent ]
I have before advocated a broad alliance with all who see the need to take down the existing corrupt system. There are a lot of economically literate people in the financial sector who are disgusted with the present spectacle and there are the Ron Paul followers who want to audit the Fed, and, indeed, abolish the Fed. I can buy into that. What we have should be abolished. We have to allow the insolvent to fail. Failure should be cheered!

All we are preserving are the incompetent oligarchs who brought us to this pass. We cannot make any real progress, in the USA, in Greece, Ireland, Portugal or Spain, without taking down the existing system. Every day that passes only makes the situation worse.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere." (But it helps!)

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Jun 11th, 2011 at 12:23:43 AM EST
[ Parent ]

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