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Germany Becomes the Second Eurozone Country to Accept Fiscal and Political Union

Updated on December 2, 2012

The Bundestag Seals the Deal Before Hillary Clinton Lands On It

Following on quickly from the precedent for fiscal and political union set by Greece, in its vote to replace private sector debt with Troika debt, the Bundestag follows suit.

Whether they know it or not, the Bundestag has just voted for political and fiscal union with Greece. By ratifying the Greek bond swap, they have agreed to the exchange of Greek indebtedness to private investors for indebtedness to the new Europe. By voting indirectly for the new Europe, they can hardly vote against it in 2013.

One wonders how much the threat of Hillary Clinton landing on them factored into this decision; or whether it was agreed already before she made her speech at the Brookings Institution. Whatever the case, the result is the same.

The IMF has challenged the Greeks to hand over sovereignty before new aid is forthcoming. If the Greeks go back on their word their economy implodes. If they get violent, the Bundeswehr gets enabled to impose a gauleiter on the failed Greek state. .

Neville Chamberlain would be impressed with such political expediency.


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    • KeySignals profile image

      Crowdsourcerer 5 years ago from Dubai

      There is some corner of a foreign field that is forever English, French and German Giles.

    • KeySignals profile image

      Crowdsourcerer 5 years ago from Dubai

      Chris, it seems that the German free press is perhaps not so free after all. The Greek, Budeswehr Gauleiter reference refers back to a previous post about the "German Enabling Act", which Hubpages in their wisdom precludes me from linking to as being "overly promotional". I think we exchanged comments about this on the original post; and I bring it up to show the pattern of events predicted in it unfolding.

    • profile image

      Giles Cattermole 5 years ago

      So: not that much different from the way the UK and France gained sovereignty over Egypt and Tunisia respectively - by creating, then buying out "La Caisse de la Dette" . . . . .

      What goes around, comes around.

      At least it'll give the German tourists the right to bag all the loungers each morning!

    • CHRIS57 profile image

      CHRIS57 5 years ago from Northern Germany

      KeySignals, i scanned through German newspapers but couldn´t find any hint on pressure from an upcoming speech of Hillary Clinton. There was a little quarrel among Bundestag parties if voting should take place on Thursday, Friday or sometime next week. Bundestag settled for Friday, that is it, no pressure from the outside.

      Could you please explain to me, what your last sentence about violent Greek, Bundeswehr and Gauleiter is supposed to express?

      Anyway, it was a black Friday. Bundestag members were forced to read through the treaty papers in 5 minutes, puplic and citizens were not asked at all. The decision is very strategic, with very costly implications for the future, not just this silly red herring of 700 something million of lost interest rate.