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German laundering a bailout
by Thanos Kalamidas
2012-06-07 09:55:09
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Spain has rejected plans for an EU and IMF bailout for one more time the last few hours and I’m sure they are going to do it many more times for the next few days. A déjà vu for me coming from tow years back when the Greek prime minister accompanied by Greek officials was saying exactly the same things just before IMF lands in Athens airport. But this is not a surprise and it is not like we didn’t expect it, the part that comes as a surprise, especially after what Greece has gone through, is the anxiety of the Germans to see Spain joining the mechanism. The Germans that so snappishly used the acronyms PIGS to describe the in debt southern states, including Ireland, adding the stereotypes of the lazy, sunbathed beggars of the south.

Since last week especially I have to admit that I sense a certain contradiction in the voluntarily advices coming from Germany and Brussels to Spain. Contradictory because while you know that the measures in Greece have thunderously failed and you trying to find a way out you cannot advice the same measures to another state; furthermore to a state that holds a big part in the European economy and a state contrary to Greece that has an active heavy industry in many levels including investment and banking. And if the Greek bailout has made most of the European nations react badly under the heavy cost to their taxpayers’ citizens and with a little help from all the contemporary populists – that apparently multiply fast lately – fighting any kind of bailout how Mrs. Merkel, Mr. Rehn or Mr. Hollande are going to deal with their internal reaction? Especially Mrs. Merkel who’s leading al the austerity plans, demands obedience to the EU measures and has to deal with a strong internal opposition that might cost her the chancellorship soon.

In the past I have written articles pointing in the mystery of the German reunification and the unknown cost of it for Europe and especially the European Union and the more I see Germany’s movements in Europe this moment the more I believe that whatever is going on this minute it has its roots in the events, at least the economic side, of the reunification. The reunification was coming but the actual events that led there surprise even the architects of the reunification. Suddenly a population of nearly 20 million with an economy in ruins and an industry trembling somewhere between deterioration and destruction with a provision to take at least thirty years before this part of the German nation to be able to stand up and be equal, at least financially, with the west part. Thirty years, from 1990 it makes 2020; in eight years. The same time in an extreme effect to help the people the German state exchanged the nearly nothing representing in gold East German Mark with the official analogy 1x3 (in the dark alleys the exchange reached 1x10) with the strong DM miraculously causing absolutely no problem to the German economy. On the contrary the reunification succeeded so much that inside a decade it was hard to contemplate – apart from the obvious internal inflation and unemployment that was also nearly zeroed after fifteen years – the differences between the two unified states.

In economics just like in mathematics miracles don’t happen; things follow certain rules where even the mule event is predictable and calculated. Actually the contemporary situation in Greece, Spain, Portugal, Ireland, Italy and Spain was predictable since early 1980s; that the European leadership with political decisions decided to ignore all the warnings it shows only their incapability. So what has happened in Germany that revolutionized the theory and overturned the rules?

Past readers know well that I’m not fan of conspiracy theories and most of the time my opinions are the result of logical thinking but following the logic of a well known fiction persona, “when you have eliminated the impossible, whatever remains, however improbable, must be the truth.” And the improbable in this case is laundering. Germany is laundering money using apparently mafia methods – and through the constant transmission and exchange and in the process clean them - and since the reunification and the transformation from the East German economy to the mighty West German there is a lot of pure paper without real value to lauder. Paper that was kept for long in safes but under the global circumstances and taking in account the American involvement or wish to get involved is about time to come out and give that extra boost the German economy to stay on the top and be able to stand the attack. But of course all is speculation … however improbable.

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