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Thread: Greece loses EU voting power in blow to sovereignty

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    Greece loses EU voting power in blow to sovereignty

    Greece loses EU voting power in blow to sovereignty

    The European Union has shown its righteous wrath by stripping Greece of its vote at a crucial meeting next month, the worst humiliation ever suffered by an EU member state.

    By Ambrose Evans-Pritchard, International Business Editor
    Published: 7:56PM GMT 16 Feb 2010

    The council of EU finance ministers said Athens must comply with austerity demands by March 16 or lose control over its own tax and spend policies altogether. It if fails to do so, the EU will itself impose cuts under the draconian Article 126.9 of the Lisbon Treaty in what would amount to economic suzerainty.

    While the symbolic move to suspend Greece of its voting rights at one meeting makes no practical difference, it marks a constitutional watershed and represents a crushing loss of sovereignty.

    Leinster shed bottlers tag with brilliant display to dismantle Munster"We certainly won't let them off the hook," said Austria's finance minister, Josef Proll, echoing views shared by colleagues in Northern Europe. Some German officials have called for Greece to be denied a vote in all EU matter until it emerges from "receivership".

    The EU has still refused to reveal details of how it might help Greece raise €30bn (26bn) from global debt markets by the end of June. Investors are unsure whether this is part of Kabuki play of "constructive ambiguity" to pressure Greece and keep markets guessing, or reflects the deep reluctance by Germany to be drawn deeper in an EU fiscal union. Greek bonds sold off as ten-year yields jumped to 6.42pc, but the euro rallied to $1.3765 against the dollar as broader issues resurfaced in currency markets.
    Europe's all a flutter over Greece's failure to pay back a mere 0.026 Trillion dollars.

    The debt of the United States is a thousand times greater, and that's if you pretend Socialist Security and Medicare aren't ****ting the bed.

    But hark! What's this? What are the socialists in charge of Europe saying about Greece?

    Tuesday's EU verdict amounted to a thumbs down on Greece's earlier austerity efforts, viewed as too reliant on one-off measures and too light on spending cuts.
    Seems...the Europeans have some clue what is needed when a nation is running a deficit.

    Why is it that the precise group that is doing it's best to remake America in Europe's image, the Democrats, flatly refuse to even discuss meaningful cuts in federal spending, when that's what their heros in Europe are demanding Greece do?

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    Re: Greece loses EU voting power in blow to sovereignty

    Quote Originally Posted by Scarecrow Akhbar View Post
    Why is it that the precise group that is doing it's best to remake America in Europe's image, the Democrats, flatly refuse to even discuss meaningful cuts in federal spending, when that's what their heros in Europe are demanding Greece do?
    What is meaningful?

    Obama proposed $11.6 billion in spending cuts and the Democratic controlled Congress accepted $6.9 billion (60%). In comparison Bush was able to only get $4 billion (40%) in cuts passed by the Republican congress in 2006 and $2 billion (15%) in 2007.

    The Democrats have appeared to do more for budget cuts in the past 4 years then Republicans did the 8 years previous.
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    Re: Greece loses EU voting power in blow to sovereignty

    Pathetic hit piece by a Euro Skeptic newspaper.

    Not only is the title extremely misleading but they are trying to portrait a rumour as a fact .

    Greece has NOT lost any voting power for god sake lol.
    PeteEU

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    Re: Greece loses EU voting power in blow to sovereignty

    Quote Originally Posted by Gibberish View Post
    What is meaningful?

    Obama proposed $11.6 billion in spending cuts and the Democratic controlled Congress accepted $6.9 billion (60%). In comparison Bush was able to only get $4 billion (40%) in cuts passed by the Republican congress in 2006 and $2 billion (15%) in 2007.

    The Democrats have appeared to do more for budget cuts in the past 4 years then Republicans did the 8 years previous.
    Yeah, some people want to say that $0.011 Trillion dollars is a deeply meaningful cut, but the reality is that the number is so ridiculousy small compared to the Messiah's projected $1.7 Trillion dollar deficit that it's like rationing the napkins to save expenses at a party that's serving a thousand tons of caviar.

    No one gives a **** about your partisan hackery.
    Last edited by Scarecrow Akhbar; 02-17-10 at 05:03 PM.

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    Re: Greece loses EU voting power in blow to sovereignty

    Quote Originally Posted by PeteEU View Post
    Greece has NOT lost any voting power for god sake lol.
    "The European Union has shown its righteous wrath by stripping Greece of its vote at a crucial meeting next month, the worst humiliation ever suffered by an EU member state."

    That says otherwise.

    Let us know how Greece votes at that meeting, okay? Then you'll have some basis for claiming they didn't lose their right to vote.

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    Re: Greece loses EU voting power in blow to sovereignty

    Why aren't the people on this board who insist the United States has to spend it's way out of this Depression posting to tell us that Greece shouldn't cut, but should spend even more?

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    Re: Greece loses EU voting power in blow to sovereignty

    Quote Originally Posted by Scarecrow Akhbar View Post
    Yeah, some people want to say that $0.011 Trillion dollars is a deeply meaningful cut, but the reality is that the number is so ridiculousy small compared to the Messiah's projected $1.7 Trillion dollar deficit that it's like rationing the napkins to save expenses at a party that's serving a thousand tons of caviar.

    No one gives a **** about your partisan hackery.
    "the Messiah's projected $1.7 Trillion dollar deficit"? Did Obama come into office with a $0 deficit or was the majority inherited from a Republican President? What was the 2001 deficit after the last Democratic President left office and what was the deficit when the last Republican president left?

    Like it or not, according to the numbers I have seen, the Democrats have thus far cut more from the budget spending then the Republicans did in the 8 years prior.

    Of course some Democrats are trying to increase spending with crap initiatives like Universal Health Care but that program will never come to fruition in it's current bloated form. Thank God.
    Last edited by Gibberish; 02-17-10 at 06:20 PM.
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    Re: Greece loses EU voting power in blow to sovereignty

    Quote Originally Posted by Gibberish View Post
    "the Messiah's projected $1.7 Trillion dollar deficit"? Did Obama come into office with a $0 deficit or was the majority inherited from a Republican President?
    Okay, you've confirmed the suspicion that you don't know the difference between the budget deficit and the national debt. That's understandable, of course, since your Messiah is working furiously to make his deficits equal to the national debt.

    However, there really is a difference between the two, and I don't make mistakes about them.

    Your Messiah proposed a budget, His very own, with $1.700 trillion in projected deficits using his Rosie Scenario Opti-Scope to realize revenues from programs that haven't been implemented.

    He nicely proposed $0.011 T to offset his $1.700 T deficit, because He's the hawkiest of the Budget Hawks. I mean, if those offsets come through, His deficit will be a mere $1.689 T. That's a fantastic improvement over his original $1.700 T proposal, isn't it?


    Quote Originally Posted by Gibberish View Post
    What was the 2001 deficit after the last Democratic President left office and what was the deficit when the last Republican president left?
    Who cares? It's relevant to Greece's lost status in Europe in what way?

    It's relevant to what must be done to fix the current US fiscal problems in what way?

    Quote Originally Posted by Gibberish View Post
    Like it or not, according to the numbers I have seen, the Democrats have thus far cut more from the budget spending then the Republicans did in the 8 years prior.
    Oh. That makes sense. The Messiah increases spending by 100%, and increases cuts by 101%, and thus the net increase in deficit is well...the deficits are bigger.

    The deficits are BIG...GRRRRRR.

    Bigger.

    That means not smaller, not the same size, but WORSE.

    Are you getting the picture yet?

    Your Messiah is GOING THE WRONG WAY. Maybe we'll get lucky, like Steve Martin and John Candy in Planes Trains and Automobiles and the on-rushing semi's will only scrape our paint.

    Don't bet on it. This ain't a movie.

    Quote Originally Posted by Gibberish View Post
    Of course some Democrats are trying to increase spending with crap initiatives like Universal Health Care but that program will never come to fruition in it's current bloated form. Thank God.
    The Messiah proposed massive increases in spending, including another Stimulus Porkulus bill....er they're calling them "Jobs" bills or some such nonsense.

    Regardless, too many people in positions of power in this government falsely believe that the government can spend us into prosperity. But they're not posting here advocating that Greece spend more.

    Why is that?

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    Re: Greece loses EU voting power in blow to sovereignty

    Quote Originally Posted by Scarecrow Akhbar View Post
    Okay, you've confirmed the suspicion that you don't know the difference between the budget deficit and the national debt. That's understandable, of course, since your Messiah is working furiously to make his deficits equal to the national debt.

    However, there really is a difference between the two, and I don't make mistakes about them.

    Your Messiah proposed a budget, His very own, with $1.700 trillion in projected deficits using his Rosie Scenario Opti-Scope to realize revenues from programs that haven't been implemented.

    He nicely proposed $0.011 T to offset his $1.700 T deficit, because He's the hawkiest of the Budget Hawks. I mean, if those offsets come through, His deficit will be a mere $1.689 T. That's a fantastic improvement over his original $1.700 T proposal, isn't it?




    Who cares? It's relevant to Greece's lost status in Europe in what way?

    It's relevant to what must be done to fix the current US fiscal problems in what way?



    Oh. That makes sense. The Messiah increases spending by 100%, and increases cuts by 101%, and thus the net increase in deficit is well...the deficits are bigger.

    The deficits are BIG...GRRRRRR.

    Bigger.

    That means not smaller, not the same size, but WORSE.

    Are you getting the picture yet?

    Your Messiah is GOING THE WRONG WAY. Maybe we'll get lucky, like Steve Martin and John Candy in Planes Trains and Automobiles and the on-rushing semi's will only scrape our paint.

    Don't bet on it. This ain't a movie.



    The Messiah proposed massive increases in spending, including another Stimulus Porkulus bill....er they're calling them "Jobs" bills or some such nonsense.

    Regardless, too many people in positions of power in this government falsely believe that the government can spend us into prosperity. But they're not posting here advocating that Greece spend more.

    Why is that?
    All I am pointing out is that your statement in your OP of "the Democrats, flatly refuse to even discuss meaningful cuts in federal spending" is incorrect. The Democrat controlled congress has approved more spending cuts then there was previously under the Republican Congress.

    I'm not defending Obama's spending habits or saying the spending isn't our of control. Frankly I think his spending habits are wrong and he is an idiot to think he can spend our way out of a recession.
    Last edited by Gibberish; 02-17-10 at 08:34 PM.
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    Re: Greece loses EU voting power in blow to sovereignty

    Quote Originally Posted by Scarecrow Akhbar View Post
    Why aren't the people on this board who insist the United States has to spend it's way out of this Depression posting to tell us that Greece shouldn't cut, but should spend even more?
    Greece doesn't have its own currency. Thats the main problem.


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