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bombLetter to the IMF relation to the
Headbombno-value-ECM - 05/12/16
bombLetter to the CDU Youth Union - 14/11/16 bombLetter to the IDW regarding
Headbombthe EFSF’s Financial
HeadbombStatements – 19/10/16
Headbomb+ Correspondence IDW -> MFD 15/11/16
Headbomband MFD -> IDW 16/11/16
bombLetter to the european Financial
HeadbombSupervision relation to the
Headbombno-value-ECM - 03/10/16
bomb14th Letter to the Parliament for Judicial
HeadbombReview of the Free-Trade
HeadbombAgreements - 27/05/2016
bombApplication to the Constitutional
HeadbombCourt for Judicial Review of the
HeadbombFree-Trade Agreements - 27/05/2016
bombBILD - Pillory of Shame - 21/12/15 bombCriminal charge of making a false
Headbomballegation against - 17/09/2015
Headbomb+ response of Public Prosecutor in
HeadbombBerlin - 20/05/2016
bombLetter to the Ifo President - 05/11/14 bombComplaint to the German
HeadbombPress Council - 21/11/13
bombLetter to the IMF - 17/10/13
Headbomb+ Supplementary letter 22/11/13
bombLetter to the EU Commission - 17/10/13 bombLetter to the Presidium of the ECB - 17/10/13 bombAgainst the dismissal of
HeadbombFederal President Wulff - 13/06/13
Headbomb+ Response from the Hannover
HeadbombPublic Prosecutor's Office 25/07/13
Headbomb+ Opinion of the Alliance for
HeadbombDemocracy 21/08/13
Headbomb+ Letter to Celle General State Prosecutor’s
HeadbombOffice 10/10/13
bombPetition for the independence of the
HeadbombJudiciary and State Prosecutor - 06/05/13
Headbomb+ response by the Petitions Committee of
Headbombthe German Bundestag - 08/06/16
bombPetition for the introduction of genuine, direct
Headbombdemocracy - 25/04/13
Headbomb+ reply of the Bundestag - 14/11/16
bombPetition against corruption - 25/03/2013 bombCriminal complaint re. Target 2 10/11/2012 bomb1st Constitutional Complaint - against the
HeadbombFederal Government - 21/03/12
bomb2nd Constitutional Complaint - ESM incl.
Headbombsupplement - 12/06/12
bomb3rd Constitutional Complaint - ESM incl.
Headbombsupplement - 18/09/12
bomb4th Constitutional Complaint - Federal
HeadbombGouvernment against the ECB (by CJEU)
Headbomb+ response of Federal
HeadbombConstitutional Court - 06/06/16
bombPress reports 27/6/12 + 24/10/12 bombSpringer complaint 28/09/11 bombDelayed insolvency bombPetition to the German Parliament 31/05/11 bombPetition to the European Parliament 21/06/11 bomb1st Letter to Members of Parliament 23/06/11 bomb2nd Letter to Members of Parliament
bomb3rd Letter to Members of Parliament 19/05/12 bomb4th Letter to Members of Parliament 23/05/12 bomb5th Letter to Members of Parliament 20/06/12 bomb6th Letter to Members of Parliament 27/06/12 bomb7th Letter to the Parliament 27/9/12 bomb8th Letter to the Parliament 15/10/12 -
Headbombagainst Corruption 15/10/12 in addition to
HeadbombPetition 25/03/13
bomb9th Letter to the Parliament 24/10/12 bomb10th Letter to the Parliament 05/12/12 bomb11th Letter to the Parliament - 20/05/13 bomb12th Letter to the Parliament - 16/10/13 bomb13th Letter to the Parliament - 10/12/15 bombQuestions to the Bundestag 27/28/06/12 bombTo the members of the Bundesrat 14/06/12 bombTo the minister of finance 12/06/12 bombSecond Letter to the Finance
HeadbombMinister - 27/02/15
bombObjection to Hartz IV - Judicial Review
HeadbombComplaint BVerfG
bomb1st Lawsuit against Federal government
bomb2nd Lawsuit against Federal government
bombOpen letter 16/18/02/11

EFSF + IMF = Anti-Transparency

Despite the end of the euro monetary union, it is clear that maximum debt and minimum transparency are the rule. The bailout schemes are an important piece to the puzzle of the massive debt and anti-transparency strategy. They borrow on the international financial market, then grant loans to the (ailing) euro countries (particularly Greece).
Instead of providing relief, this method creates even more debt for these countries. These new debts do not appear in the national budgets. They are concealed.
The Alliance for Democracy has taken a closer look at the EFSF, the initial bailout scheme. The debts should be reflected on its balance sheet. Following the euro anti-transparency strategy, the financial accounts would appear to be balanced, and the credit rating solid. Funds borrowed on the international financial markets set off the debts of the ailing euro countries, particularly Greece, so that everything appears to be in order. Upon a second look, however, some financial tricks become apparent. The nominal value of the loans to Greece in the full amount of €134.8 billion appears on the asset side. The EFSF treats Greece’s loans as fully recoverable. Greece will pay back its loans in full and on time, but the payback in terms of political, economic and social problems is not considered. Companies and banks are required to follow international financial reporting standards, i.e. by writing off claims. States are not required to do this, because there is no insolvency code, which the governments of the ailing euro countries want to avoid because one result would be that the EFSF’s manipulated entries would slip into the negative column and insolvency would become visible.
The Alliance for Democracy prepared a brief report and submitted it to the Institute of German Auditors (IDW). The IDW does not consider the matter to be within its remit and prefers not to issue a statement. The matter is just too delicate. So, now the Alliance for Democracy decided to turn to the IMF.
Like all of the political players, the IMF fights old debt with new debt, but tries to break away from this policy by highlighting its failures, such as the debt problems of the European banking sector. According to the IMF’s report, a third of European banks are at risk, even if the situation of the banks were to improve within the normal economic cycle (see p. 19). The IMF stresses that hiding or deferring the problems will only make matters worse.
The Alliance for Democracy has repeatedly warned about the economic and social consequences of the strategy of deferring sovereign default. The Alliance for Democracy has taken this opportunity to broach the subject again and, in a letter to the IMF, called attention to the woes of the quasi-bank called the EFSF.