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Luxembourg’s Foreign Minister: Germany seeks “Hegemony” in Europe (by “Other Means”)

Dave Emory’s entire life­time of work is avail­able on a flash dri­ve that can be obtained here. (The flash dri­ve includes the anti-fas­cist books avail­able on this site.)

Joseph Goebbels, Hitler’s pro­pa­ganda chief, once said: ‘In 50 years’ time nobody will think of nation states.’ 

COMMENT: Lux­em­bourg’s for­eign min­is­ter has added his voice to those not­ing Ger­man impe­r­i­al designs lurk­ing behind the facade of the EU/EMU.

Jean Assel­born has unequiv­o­cal­ly stat­ed that Ger­many aims for “hege­mo­ny” in the euro zone. A grow­ing con­sen­sus is emerg­ing echo­ing this sen­ti­ment. Blog­gersGer­man Euro­pean Par­lia­ment rep­re­sen­ta­tives , finan­cial reg­u­la­tors and gov­ern­ment min­is­ters have expressed sim­i­lar opin­ions, how­ev­er they do not place the events unfold­ing in Europe in the prop­er his­tor­i­cal con­text.

Impos­si­ble to explain here, past a point, we have made mate­ri­als avail­able that will flesh out listerns’/readers’ under­stand­ing of the emer­gence of “Europa Ger­man­i­ca.”:

Lux­em­bourg Min­is­ter Says Ger­many Seeks Euro Zone “Hege­mo­ny” by Andreas Rinke; Reuters; 3/26/2013.

EXCERPT: Luxembourg’s for­eign min­is­ter accused Ger­many on Tues­day of “striv­ing for hege­mony” in the euro zone by telling Cyprus what busi­ness mod­el it should pur­sue.

Like Cyprus, Lux­em­bourg has a large finan­cial sec­tor, whose com­par­a­tively light-touch tax and reg­u­la­tory regime has long irked its much big­ger neigh­bours Ger­many and France.

Ger­many, the Euro­pean Union’s biggest and most pow­er­ful econ­omy, had insist­ed that wealthy depos­i­tors in Cyprus’s banks con­tribute to the island’s bailout and said the cri­sis has killed a “busi­ness mod­el” based on low tax­es and attract­ing large for­eign deposits.

“Ger­many does not have the right to decide on the busi­ness mod­el for oth­er coun­tries in the EU,” For­eign Min­is­ter Jean Assel­born told Reuters. “It must not be the case that under the cov­er of finan­cially tech­ni­cal issues oth­er coun­tries are choked.”

“It can­not be that Ger­many, France and Britain say ‘we need finan­cial cen­tres in these three big coun­tries and oth­ers must stop’.”

That was against the inter­nal mar­ket and Euro­pean sol­i­dar­ity, and “striv­ing for hege­mony which is wrong and un-Euro­pean,” he said. . . .

But crit­i­cism from core north­ern states such as Lux­em­bourg — a founder mem­ber of the EU and euro zone — is less com­mon.

Assel­born said it was cru­cial that small­er EU states in par­tic­u­lar were allowed to devel­op cer­tain eco­nomic nich­es.

Ger­many should also keep in mind it was a prime ben­e­fi­ciary of the euro zone cri­sis because its bor­row­ing costs have plunged as ner­vous investors seek safe havens, Assel­born added. . . .


One comment for “Luxembourg’s Foreign Minister: Germany seeks “Hegemony” in Europe (by “Other Means”)”

  1. Bun­des­bank head Wei­d­mann just issued Cyprus’s sen­tence: “longer term struc­tur­al reforms”. It’s the transna­tion­al ana­log to the “Camp Fear” approach of deal­ing with way­ward teens: Send the kid to a place so awful and sense­less­ly crazy that oth­er kids are like “no way I’m mis­be­hav­ing after see­ing what they did to that kid!”. You aren’t sent to Camp Fear to receive ther­a­py your­self. See­ing you get sent to Camp Fear is the therapy...for oth­er way­ward teens.

    You don’t point­less­ly tor­ture some­one and destroy their future if you want to help them heal:

    Cyprus Shows Banks Can Be Wound Down: ECB’s Wei­d­mann
    Pub­lished: Sun­day, 7 Apr 2013 | 3:45 AM ET

    The Cyprus bailout shows banks can be wound down despite dif­fi­cul­ties, Euro­pean Cen­tral Bank (ECB) pol­i­cy­mak­er Jens Wei­d­mann said in an inter­view broad­cast on Sun­day, adding the sit­u­a­tion on the island had sta­bi­lized.

    Wei­d­mann, chief of Ger­many’s Bun­des­bank, told Deutsch­land­funk radio he would­n’t rule out that Cyprus might need yet more liq­uid­i­ty, but stressed it was longer term struc­tur­al reforms that would solve Nicosi­a’s prob­lems and not more cash.

    To secure a 10 bil­lion euro EU/IMF bailout last month, Cyprus forced heavy loss­es on wealth­i­er depos­i­tors. Ini­tial­ly it had also pledged to intro­duce a levy on deposits of less than 100,000 euros before reneg­ing in the face of protests.


    Wei­d­mann warned that the appetite for mak­ing struc­tur­al reforms in Europe was wan­ing, and this posed a prob­lem.

    Com­ment­ing on Italy he said although the coun­try seemed to be func­tion­ing on auto-pilot and stick­ing to mea­sures already agreed, so long as it lacked a gov­ern­ment it would trig­ger uncer­tain­ty over whether it could tack­le its prob­lems.

    “It is not that we have too lit­tle liq­uid­i­ty in the euro zone or that the cen­tral banks have not been active ... the prob­lems are rather a lack of com­pet­i­tive­ness in cer­tain coun­tries and doubts over finan­cial sus­tain­abil­i­ty. We need to fix this, and only gov­ern­ments can do that,” he said.

    Wei­d­mann added: “man­ag­ing the cri­sis won’t be a mat­ter of months, I think it is some­thing we will be work­ing on for years, because win­ning back com­pet­i­tive­ness and con­sol­i­dat­ing state bud­gets are huge, widerang­ing chal­lenges which will take a long time.

    “I think it is some­thing we will be work­ing on for years, because win­ning back com­pet­i­tive­ness and con­sol­i­dat­ing state bud­gets are huge, widerang­ing chal­lenges which will take a long time.” Tru­ly ter­ri­fy­ing.

    Posted by Pterrafractyl | April 7, 2013, 7:14 pm

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