Dutch government collapses over debt woes
The Dutch government, one of the most vocal critics of European countries failing to rein in their budgets, quit Monday after failing to agree on a plan to bring its own deficit in line with EU rules.
Queen Beatrix‘s office said she had accepted the resignation of Prime Minister Mark Rutte and his Cabinet after Rutte informed her talks on a new austerity package collapsed over the weekend.
Rutte is to debate with parliament Tuesday on whether and how his caretaker government can still improve the budget, and when to schedule new elections. No date was immediately announced, but opposition lawmakers called for a vote in late June.
Czech Republic Government on verge of collapse – Klaus in London
Another Coalition Government within the EU faced collapse over the past weekend, as well as the more publicised problems of Holland, the Czech Republic similarly faces early elections as the Prime Minister, Petr Necas, announced last evening that the governing centre right coalition was dissolving itself, read here.
Strangely enough, earlier in the weekend, the Bruges Group had announced that Czech President Vaclev Klaus, would be in London on 3rd May, (as disastrous local election results for the UK Coalition will be being announced,) to explain his views as the sole sane leader of any nation amongst the 27 former nations now mere EU member states.
Russian Stock Market Will Not Reopen: “The Situation Has Been Recognized As An Emergency”
The technical suspension of trading to be extended
Billions wiped off Europe’s biggest companies as political rebellion rocks eurozone
More than £122.3bn was wiped off the value of Europe’s biggest companies on Monday amid fears that the eurozone’s commitment to austerity was being swept away by political rebellion – just as its debts hit record levels.
Stockmarkets plunged as traders panicked that Angela Merkel could lose her key allies in France and the Netherlands and that the debt crisis rescue plans could unravel.
The Dutch prime minister Mark Rutte, who is one of the eurozone’s “hardliners” on fiscal discipline, dramatically quit in the wake of his coalition’s refusal to accept Europe’s debt pact. Snap elections could be called as early as June.
Traders were also rattled by Francois Hollande’s victory over Nicolas Sarkozy in the first round of the French presidential election. The socialist Mr Hollande has vowed to renegotiate the fiscal pact that including a 3pc of GDP deficit limit.
The political concerns were compounded by data that showed eurozone debt has hit 87.2pc of GDP – the highest level since the launch of the single currency in 1999. Eurostat said that the 17 eurozone members had reduced their deficits from 6.2pc of GDP in 2010 to 4.1pc in 2011 – but overall debt levels had risen by 1.9pc.
Spain, meanwhile, officially sank back into recession as the economy shrank 0.4pc in the first quarter of the year, and German manufacturing shrank at its fastest rate for three years in March. The French composite PMI also fell, according to Markit.
We are facing the real possibility of a coup in Russia and/or China right now, amid a storm of global financial chaos. China has already had one coup attempt this year. We have already seen the forced change of two governments in Europe (Greece and Italy), and now are bearing witness to three more -- France, Netherlands, and Czechoslovackia. Can Spain and Portugal be far behind?
There is no reasonable cause to believe that the US will not be impacted by all of these events, and in a very negative way.
If Russia and/or China experience a coup de’etat, there is a very real possibility that it will lead directly to armed hostilities, which is yet another spectre of danger to all American citizens. Even without a coup, the developing axis of evil -- Russia/China/Iran plus their satellite states of N. Korea, Syria, Egypt, Venezuela -- poses real and immedaite danger to our national security and economic sustainability.
I can’t find a time in all of human history when the social and economic climate was more perturbed than at the present moment. Whatever happens next, it will be BIG.
Regards,
LT
“axis of evil?” while authoritarian, russia is a bastion against the international banking cartel. if there is an axis of evil, it is between the banksters and the security-industrial complex in the united states.
Rife,
So few people even are aware that Russia is one of the few nations that actually ALLOWED the Federal banking cartels in and then systematicall extricated themselves from them and ousted their sorry asses out of Russia with threat of death if they returned. And most people are not aware that EVERY SINGLE country that America has “gone to war” against in the past 100 years (since 1913) HAD NO CENTRAL BANK. Yet the minute the smoke cleared and the BEFORE the bodies from these “wars” were even picked up, a Central Bank was set up in EACH ONE of these countries. So for those who have any negative comments about Russia…. turn your Telly off…. you’ve been brain washed by the European elite owned media.
Quite true rife.
The united states would not and could not support a war at this point unless it was on its own soil. The military has to drug combatants as is and force multiple tours on its soldiers. The people that are dependent on a debt based system are doing everything possible to conjure this scenario.
Coup in russia? its fairly plausible, if they have a putin clone, which is not far-fetched either.
This may or may not have been successful given the little attention that the MSM has given to it.
But a war in Venezuela? Please, latin americans all hate the dispostion of washington dc….not AMERICANS for we are all AMERICAN…this is a hard truth for most US CITIZENS but remember its the U. S. OF AMERICA in North America and part of a bigger land mass joined by the isthmus of CENTRAL AMERICA (not nebraska) to the continent of SOUTH AMERICA.
Most NEVER CONSIDER THIS…but latin americans TOTALLY DO…from the Patagonia to the Grande…..Spain coulnt hold it, England already gave them soccer and Germany and Portugal learned their lessons. LETS NOT FIGHT…lets find a way to all SURVIVE.
tick tick tick…