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ALLIANCE FO§ DEMOCRACY
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Rescue packages incomprehensible

We have been concerned with rescue packages ever since they have existed, and particularly those which are intended to bring the Euro crisis under control – finally. But how should this happen, if hardly anyone understands how these rescue packages work? In essence they are loans, which bankrupt countries make to other bankrupt countries. These are then called supporting countries and supported countries. Supported countries can no longer doctor their budgets so as to observe the excess debt limits of the EU. The worst example of this is Greece, which at best concealed its deficits on entry into the Euro community; however, it very soon became clear that Greece is bankrupt. This alone is a damning fact, but it gets worse: The other Euro zone countries continue trying to avoid making their way to the insolvency court, Ireland and Portugal quickly followed the Greeks, and they have recently been joined by Spain and France. We Germans continue to make a fuss about declaring bankruptcy, or at least our representatives do. Thanks to furtive and false, and in any case too unenlightened press reporting, the message of the abrupt end of the Federal Republic is still being kept under the table for the time being. This serves the government, which maintains itself in office, it serves speculators who make money from the dying Euro, it serves the banks and bankrupts, who want to maintain the business status quo at any cost.

If there had never been any rescue packages, the Fiscal Pact, which has been and still is regarded as a requirement of support to supported countries, could never have been observed by the supporting countries themselves. What a disgrace. Due to the structuring of liability – liabilities are not statistically recorded as debt – national budgets have been falsified, which in this situation could not have turned out any better, so that through direct support of governments, i.e. countries, new debt and overall debt limits, such as those allowed for in the Stability Pact, the Maastricht Treaty and the debt brake then enshrined in the German Constitution have all exceeded their limits. Confusing? Still not enough, because politics never reported on this, and the press also remained silent. Reprehensible enough!

Regardless of this, this construction became a burden on the people of the supporting countries – it was a concerted action of the supporting countries, which are now all operating with rescue package liability structures. And details were there by ignored only to realise rules for the bending and breaking of the law, which stopped the crash, but which entail costs for the people.

Let us look again at Greece. The Greeks deducted little in the way of taxes. This uncollected taxes were the breaks that forced Greece to its knees and finally brought the country to the point of collapse. Now that support is being provided, the people of the supporting countries are now jointly liable for the missing tax revenue, which could have been obtained through proper control and supervision, assuming obligations on the part of the supporting countries for the Greek state. Unbelievable.

Whether now those Greeks who have paid no taxes at all or those who paid taxes already – both cases exist – will now move their harvested capital abroad, raises a new question:

      1.If Greek funds – as has already happened to a large extent – are moved to Germany and other supporting countries, then a settlement will take place via the German-Greek dual taxation agreement, so that taxes on capital income for example, which were earned by Greeks in Greece, and should have been liable to taxation there, will also result in an influx of taxes to Greece from the supporting countries under the dual taxation agreement, where such agreements exist, following the transfer of capital from Greece to the supporting countries by way of settlement.

      2.If however a transfer takes place to countries with which Greece has no dual taxation agreement, there would be no influx of “withholding tax” or similar from such countries to which the major part of the capital transferred abroad was actually transferred, which could then flow back from these countries to Greece.

      And this is particularly true for Case 2 as for the required support because of unpaid taxes of the Greeks, as long as they kept their capital in Greece, while we now pay for rescue package contributions, like the citizens of other supporting countries, which become all the more necessary as the Greeks transfer more and more capital to such countries.


It would be interesting to know what thoughts are being entertained in the Federal Ministry of Finance and the relevant ministries of the supporting countries of the EMU. The main question however remains: Why were such imponderables not excluded in advance?
Apparently such thoughts have not occurred to them, so that liability must now also be assumed for such losses in Greece brought about by “fugitive capital”. This in turn raises the following question:

      1.Should we not be giving urgent thought, on the basis of our Constitution and constitutional institutions, as to how this is already the case in a different context?

      2.Should the second head of state receive a higher remuneration so that such thoughts are incorporated into the work? Or should the amounts not be reduced instead because of failure?


BILD wrote recently that “due to the supposedly increased, huge responsibility of the Chancellor for the Federal Government and the whole of the people of Germany, the proposal was made to at least double or triple her remuneration as Chancellor – or in any case to increase it substantially”. Well, the boards of the 30 DAX listed companies had already had this idea, but then they are not the BILD. A decision on the matter is pending, but the suggestion alone is highly alarming.

The remuneration of the Chancellor, including her salary as a member of the Bundestag must be of an extremely high level, or too high a level , measured by all of the political work which has served only to maintain her position and prevent the crash of the Euro, to the detriment of the purchasing power of the currency, and the associated poverty of both young and old, and the gambling away of the pensions and care provisions of the German people. For this would mean: a reduction of her salary.

To increase her remuneration would mean giving the Chancellor recognition for all her misdeeds, that the Germans were satisfied with the work of the Chancellor, and that she was therefore worth a bonus.

There is however no such satisfaction. This was shown by an opinion survey, the results of which were published by BILD on 6.11.12: 69% of the population are far from satisfied with the work of the government. This means: a reduction in salary.

If the 30 boards of the DAX companies, in the interests of their shareholders, are of the opinion that Mrs. Merkel is carrying too much responsibility, because she has to navigate her way with such difficulty through the Euro crisis and the debt crisis of the European debtor countries, then we may say that it is true: Mrs. Merkel has so far prevented the crash, although she will never rid herself of the responsibility for the impending bankruptcy. And this will not be helped by increasing her salary. There are other reasons behind this recognition on the part of big business:

A large part of the growth of the past, which led to an overlying development in debt rates, benefited the economy, but would not have benefitted her to the same extent in all countries of the EMU, if these had to implement austerity measures. Because the limits set for new debt disrupt existing economic activity. As long as the current situation can be more or less maintained for the economy, the Chancellor performs an extremely important role for the major capital backing the economy, which benefits industry and the industrial location of Germany, which still holds 5th place amongst the industrialised nations. And for this reason and this reason alone, Angela Merkel holds 1st place in the Forbes list of the world’s most powerful women for the second time. There can be no other reasons for this, because she is a puppet of big business and has led the people into a situation which has resulted in debts of immense proportions. This is beyond the responsibility of any individual. But it is the fault of Mrs. Merkel.

And this means rather a reduction of debt, because there is simply nothing more to support the vast sums of money for which the German taxpayers are already liable, in order to comply with liabilities and guarantees, and at the same time finance the budget of the country. Neither for the Chancellor, nor for the parliament, which is incidentally also responsible for a debt rate of ca. € 20 billion per council seat since the foundation of the Federal Republic of Germany until today – this can no longer be referred to as democracy. Perhaps a contrary proposal would be appropriate: Performance-related pay for politicians!
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The IMF
Trump’s Election is a Warning for Germany’s Political Parties
Year-End Selection of Texts
CDU Party Congress 2016
IMF Crisis Management a Failure
Deployment of the Bundeswehr in Germany
Crucial Test with International Implications
Ever Closer?
On the 2016 German State Elections
Revealed: Colossal Public Fraud in Germany and Europe
Nettlesome Politics
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As We Begin 2016
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Clever Shifting Tactics
New Charges in an Ongoing Saga
Evil under the Sun – The G20
Political Paradox
Game over for Merkel
The Greeks are making history
Clash of the Titans
Elmau
FIFA Roulette
The Beast Roars
The Silver Lining
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The Deafening Silence
Texts on the liquidation of the euro
Wasting Time
New Rules, Same Impetus
Call in the Army
Politicians Run from Themselves
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Europa without the Euro
Alternative to the Euro
Hellas
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Insolvency Statute
Heiner Geißler
Germany Corrupt No More
India’s GDP growth
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The Balanced Budget Lie
The Wimpy Currency
Acid Test
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Who is Ruling the World?
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Is This Really Better?
Kohl and Merkel
Debt Brake Debate
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German Banks Need Money
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Mr. Putin, please cry!
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They are also blind on 2.
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On László Andor’s speech
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OECD report
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But will every European pay?
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The sluts of the SPD
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The people’s sense of justice
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Courage, Mrs. Merkel!
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