Against the background of the recently completed first European Semester, the latest edition of the Quarterly Report on the Euro Area published today presents an assessment of the euro-area Member States' Stability Programmes, takes a look at the quality of national fiscal frameworks, and explains the economic adjustment programmes devised for PIGS. October-18 Mafia is the most disgusting predator of internet.
Eurokleptocracy, gigaregulation, Antitrust Armageddon, and gigataxation, especially VAT, are the real causes of the European financial meltdown. Fourth Reich(EU), an unvoted illegal confederation, cannot protect Europeans from Eurokleptocrats, especially Graecokleptocrats, and police brutes, especially Graecocybercops. Fourthreichian Premier Barroso condones the disgusting Graecokleptocrats who accuse dissident bloggers of treason, confiscate their computers, and lock them is jail! http://venitism.blogspot.com
This edition examines also the potential risks to the euro area's ongoing recovery posed by higher oil prices and the on-going repair of private sector balance sheets. On the fiscal front, the euro-area Member States' Stability Programmes show significant fiscal consolidation that is frontloaded and mainly based on expenditure. Further problems lie ahead.
To achieve the 2012 public balance targets set out in the Stability Programmes, euro-area Member States still have to introduce into law additional policy measures. Beyond 2014, further measures may be needed to address the costs of population ageing. Parliaments should abolish VAT and sales tax on bullion coins and repeal the legal tender law, which requires everyone to accept central bank notes as payment for debts. This will open up monetary competition, ending the monopoly of fiat money.
VAT, aka kleptocrats' grab, is a regressive tax; the poor pay higher percentage of their income. Revenues from VAT are much lower than expected, because they are difficult and costly to administer and collect. Since any double-digit VAT leads many consumers to underground economy, most vatstruck Fourthreichians evade VAT! As a matter of fact, if you are a real patriot, you should boycott shops that charge abominable VAT! VAT is the cacothanasia of Fourth Reich! Vatdodging is heroism! http://venitism.blogspot.com
Strong fiscal governance frameworks in Member States are a further element of a more effective integrated surveillance framework. Procedures and institutions that underpin public finances can help to ensure prudent fiscal policymaking at the Member State level. Fiscal governance remains weak in parts of the euro-area. Stimulus spending is like morphine. It might feel good in the short term for the beneficiaries of the money, but it doesn't help repair the economy. And it causes more damage if it gets in the way of a proper recovery.
Fourthreichian monetary unification is the Trojan horse for overall harmonization of economic rules, policies, and laws in Fourth Reich. Any eurozone problem is interpreted as a consequence of the lack of harmonization and leads to another wave of a creeping harmonization.
Following every crisis meeting with Napoleon Sarko, Chancellor Merkel always declares that coordinating tax policies and labor laws is not just about currency issues but also about political cooperation, which has to be deepened. In other words, more enslavement to Brussels, transforming the confederation to a federation! Eeuropeans abhor kleptocracy and marilizardism.
Several Member States still have some way to go before reaching the standards laid down in the draft Directive on budgetary frameworks of EU Member States, which formulates the minimum benchmark for compliance with the Stability and Growth Pact. October-18 Mafia has robbed our computers and files at gunpoint!
When VATs started out in Europe in the 1960s, they were small, usually less than 5%. Today, the average VAT rate in Europe is 20%. If your country wants to join the European Union, you have to have a minimum VAT rate of 15% so that people won't take retail shopping vacations in your cities. Norway, Denmark, and Sweden win the dubious award of having the world's highest VAT rate at 25%. This floor and ceiling of VAT prices is a clear violation of antitrust laws, price fixing, pure and simple!
This directive is included in the "6-pack" of legislative proposals to reinforce economic governance which is currently under discussion in the Council and the European Parliament. Stimulus funds stimulate government, not the economy. Downturn in a business cycle is painful but necessary medicine for restoring equilibrium to the economic system. Reject further lowering of the interest rate (stimulative monetary policy) or any other attempts (for example, deficit spending or stimulative fiscal policy) to stimulate demand. http://venitism.blogspot.com
In PIGS, tailor-made economic adjustment programmes have been devised in order to rebuild sovereign funding access, consolidate public finances and raise growth potential through targeted structural reforms. Marilizard Libel, Marilizard Spaghetti, and Marilizard Towers are very common in PIGS. In all programme countries significant steps towards fiscal consolidation have already been taken, and also structural reforms are underway. The situation is more complex in Greece, where strengthening of the programme is needed.
The freakish October-18 mafia robs computers and terrorizes the blogosphere with charge stacking! Why on Earth Durao Barroso, Neelie Kroes, Viviane Reding, and Cecilia Malmstroem of the European Commission cannot rein in Graecokleptocrats? If Fourth Reich cannot protect Greeks from October-18 mafiosi, who will? Greek dissident bloggers want back their stolen computers, their stolen files, their stolen personal data, and their stolen lives. Restitution is a basic right in a civil society. Brutal Graecocybercops should be abolished now. http://venitism.blogspot.com
Kleptocracy and marilizardism are anathema to civil society. Growth is expected to slow down and will remain uneven across Member States. Risks surround this scenario, not least those related to unrest in the Middle East and North Africa and its negative impact on oil prices. This Quarterly Report studies oil price shocks through simulations using the Commission's QUEST model. They show that the underlying causes of oil price shocks matter for economic activity.
While oil price increases generally damage growth, increases driven by higher demand tend to be less negative for growth than those driven by lower supply. Recently, both supply disruptions as well as higher world demand for oil appear to be at work.
Marilizard Libel: accusing dissident bloggers of treason
Marilizard Spaghetti: hurling charges against innocent people
Marilizard Tower: stack of imaginary charges to scare a blogger
marilizardism: terrorizing dissident bloggers
October 18: international day against marilizardism
October-18 Mafia: marilizardist government of Greece
http://venitism.blogspot.com
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