Archive for June 19th, 2012

Why Should Americans Care About Germany, Greece, Spain, etc.?

posted by Ida B. Wells IV @ 10:37 AM
June 19, 2012

OK. So (after Germany spent massive amounts of money on negative warnings about the consequences of leaving the euro) Greece voted to stay in the European Union (EU).  And now the drama shifts to Spain, no Italy, no Ireland, no . . . But why should Americans care?

   Well, Wall Street watchers insists that the more the euro keeps Europe in turmoil pushes investors’ money to the United States, where––although not perfect––the market is safer, and will at least bring decent returns.

Need another reason?  OK.  The G-20 Leaders––including Germany––promise to emphasize growth and job creation instead of austerity.  In a leaked draft communique, these leaders promise to:  “act together to strengthen recovery and address financial market tensions . . . All G20 members will take the necessary actions to strengthen global growth and restore confidence.” But ‘draft’!  OK?

Let’s see, for reason three:  Even Germany’s site admits that all sorts of nations are insisting that Germany and the rest of the EU get their act together.  The BRICS––Brazil, Russia, India, China and South Africa––and other emerging nations at the G20 Conference even pressed Germany to solve the euro crisis before it spreads.  (Note that word:  “spreads.”)

For instance, Yonhap News Agency reported that “Chinese Deputy Finance Minister Zhu Guangyao said the summit was important for limiting the risk of the crisis spreading. South Korean President Lee Myung-bak called for a radical overhaul of the eurozone’s financial system.”

Ah, but Jose Manuel Barroso, President of the European Commission, retorted that EU members would not be “lectured to by other G20 nations.”   Yonhap and quotes Barroso as saying:  “Frankly, we are not coming here to receive lessons in terms of democracy or in terms of how to run our economy.”

OK OK back to good reasons.  Well Christine Lagarde, Managing Director of the International Monetary Fund that G20 members “had promised a total of $456 billion (361 billion euros) for its new crisis fund. The amount is $26 billion more than a target that was set in April.”  Hm. Why give more than is needed?

“Countries large and small have rallied to our call for action, and more may join.  I salute them and their commitment to multilateralism.”  Lagarde said.  These added donations doubled IMF’s lending capacity.  Hm. Someone must see needs!

Ahhh.  There’s more ‘good news,’ but I’ve run out of space.  One last thing:  Americans should care because Germany’s moves to control European finances is part of its economic attack on Europe and the world.  These veiled economic war moves lead to World War III.    Like Christian word puzzles, one must read and understand God’s Word––i.e. “rightly dividing The Word of Truth (2 Timothy 2: 15)” to solve Germany’s open riddle! Isn’t that good news??

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