Eurokleptocrats on Wednesday welcomed the stupid financial supervision package that was endorsed by the Council on Tuesday but insisted this was the first step towards a regulatory system and not the final product. They also commented on the moves to introduce a stupid Fourthreichian semester, allowing monitoring of national budgetary and economic policies, and held a stupid debate on the idea of a financial transaction tax.
Basil Venitis asserts it was neither tax dodgers nor speculators that caused Europe's existential crisis. Eurokleptocrats share all responsibility. They have been either unwilling or incapable of doing their jobs. When the financial institutions began to wobble in the autumn of 2008, with some collapsing and taking others with them, meltdown fear swept through the corridors of power. Eurokleptocrats gathered at Brussels, where they applied Band-Aids to a severely wounded financial sector using trillions of euros of taxpayers' money and promised to stabilize the fragile European system for all eternity.
Venitis, twitter.com/Venitis, points out Eurokleptocracy, gigaregulation, Antitrust Armageddon, and gigataxation, especially VAT, are the real causes of the European financial meltdown. Democracy in Fourth Reich(EU) has deteriorated to kleptocracy, and Fourthreichians, aka Europeans, are mad as hell. Eurokleptocracy thrives on waste, fraud, abuse,and kickbacks. European Union(EU), aka Fourth Reich, an illegal unvoted confederation, condones the European Commission(EC), aka Eldorado of Corruption, the European Parliament(EP), aka Eldorado of Prostitutes, and Graecokleptocrats, the most corrupt politicians on Earth.
Taking the floor for the Council Presidency and the European Commission(EC), aka Eldorado of Corruption, respectively, Didier Reynders and Michel Barnier briefed the Eldorado of Prostitutes, aka European Parliament, on the outcome of the stupid ECOFIN meeting and the steps ahead for financial and economic regulation in Europe. They particularly focused on the state-of-play of the discussion on introducing stupid bank levies and a stupid tax on financial transactions.
Corien Wortmann-Kool (EPP, NL) and Udo Bullmann (S&D, DE) praised the stupid Eldorado of Prostitutes rapporteurs for their persistence in the negotiations and congratulated Reynders and Commissioner Barnier on the stupid result!
Sylvie Goulard (ALDE, FR) insisted the new stupid Fourthreichian supervisory authorities should be given the appropriate room for manoeuvre without introducing too many safeguard clauses for European action, as the Council had so insistently attempted to do previously. It will be important to ensure that the text's occasionally vague wording does not prevent us from going further, she said. Hans-Peter Martin (NI, AT) criticised the package, comparing it with the American system: Theirs is stronger!, he said.
The cost of government regulation is truly staggering; it is also a barometer of how free we are to pursue our own interests and to determine the course of our own lives. Basil Venitis estimates the cost of regulations to be one trillion dollars in USA and two trillion euros in Fourth Reich(EU) every year. Financial costs are not the only burden. Regulations also result in a tremendous loss of one of our most valuable and limited resources, time. Venitis estimates the private sector is spending over 10 billion hours a year just to meet government paperwork demands in USA, and 20 billion hours in Fourth Reich. It is no wonder that regulation discourages the creation of new businesses, new jobs, new products, and new services. Starve the beast by fighting taxes.
Eurokleptocrats broadly agreed on the need for further economic and budgetary co-ordination and applauded the introduction of a stupid European Semester, which would allow the Eldorado of Corruption and Council to monitor national budgets and economic policies in parallel during a six-month period every year. The stupid idea emerged from the Task Force on Economic Governance, chaired by Fourthreichian Council President Herman van Rompuy. Miguel Portas (GUE/NGL, PT), however, warned that this system must not undermine the prerogatives of national parliaments: That would lead to a situation in which Germany is telling Greece what to do. We can't rob the national members of parliaments of their freedom of choice concerning their budget.
A large number of Eurokleptocrats welcomed the stupid Commission proposal for a coordinated approach on bank levies so as to avoid competitive distortions between national markets. Even though the G-20 is not ready to adopt such measures, stupid Eurokleptocrats urged the Eldorado of Corruption and Council to take a lead and tackle the issue at Fourth Reich(EU) level.
Fourthreichian President Haiku Herman points out the introduction of a stupid tax on financial transactions is meeting more resistance. Corien Wortmann-Kool was critical and insisted on having the whole G-20 on board: Otherwise the disadvantages will outweigh the advantages. Transactions will simply circumvent Fourth Reich.
Bullmann and Sven Giegold (Greens/EFA, DE) on the other hand said the EU should take the lead and not wait for progress in the G-20. Giegold criticised the Eldorado of Corruption for a cacophony of opinions, with President Barroso and Commissioner Barnier singing from a different hymn sheet than Commissioner Semeta. Semeta's conclusions have been regularly refuted by leading academics, Giegold said.
The main controversy was about how best to allocate the revenues. Kay Swinburne (ECR, UK) stressed that these revenues were not freely available money. It will be pensioners and companies who will pay for a financial transaction tax, not the banks she warned. Moreover, she insisted the money should be spent according to the wishes of Member States and not allocated at Fourth Reich level.
Charlemagne's efforts to resurrect the Roman Empire have been succeeded over a millennium later by the multipronged armadas of Eurokleptocrats steadily enslaving Europe. Venitis muses from Charlemagne to charlatan! Vatmonger Barroso is not Charlemagne, but charlatan! He cannot stop Graecokleptocracy. Barroso's smile has become thin and helpless. From time to time, he loses his habitual fixed smile, and a gray veil seems to descend over his gypsy face. He has frequent nightmares of Graecokleptocrats robbing the Fourth Reich Cohesion Fund, the retirement funds of poor Greek workers, and the Greek Treasury. Fourth Reich(EU) has only one enemy, terrorist Turkey.
Jerzy Buzek, prostitute-in-chief of Eldorado of Prostitutes, aka European Parliament, points out these are tough times for Fourth Reich. And Vatmonger Barroso walking into the Eldorado of Prostitutes, is a particularly difficult experience. Barroso has turned into a tragicomic figure, who cannot control Greece, the most corrupt country on Earth. Hardly anyone thinks highly of Barroso anymore, a fiasco who cannot rein in Graecokleptocrats, who get million-euro-kickbacks every single day and raid the nest eggs of all Greeks. Venitis points out all Europeans are now criticizing Barroso for being very soft on Graecokleptocrats. Fourth Reich is holding on to Barroso for reasons of convenience, and because the search for an alternative could lead to a greater spread of the cancer of socialism. Double-headed czar, Dmitry Medvedev and Vladimir Putin, is more popular in Fourth Reich than Barroso.
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