Euro Zone Central Bankers Planning for a Partial Breakup?!
- The Eurozone will collapse. It is a matter of when. Out of its collapse will rise the 10 Horn Beast of Biblical prophecy. Do not be fooled by all the political theatre going on in the EU summit these few days. They have a plan for Euro collapse, re-engineering of the EU2.0, fiscal (by implication political) union, tax union, Eurobonds …etc. The Euro collapse will happen because the Illuminist plan is for global economic, financial and monetary meltdown (leading to world war) to bring about their new Luciferian New World Order, One World Currency and Global Supra-National Central Bank. My assessment is: the Illuminists are confident that 2/3 of the world will fall into their hands with this new economic, financial and monetary hegemony. The rest of the third will go to war over it!
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Euro zone central bankers crisis planning on the quiet !
By Paul Carrel, http://www.reuters.com/
(Reuters) – Euro zone central bankers are looking at the possibility of a shock to the currency area that could trigger its partial break up and their priority in such a scenario would be to preserve the system’s survivors, central bank officials say.
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The European Central Bank is pressing governments to adopt tougher fiscal rules and has signaled it is ready to take stronger action to fight Europe’s debt crisis if political leaders agree to tighter budget controls. In private, euro zone central bank officials say a lot of the pieces in Europe’s policy puzzle need to fall into place to calm financial markets and see off the crisis.
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An official at one of the bloc’s 17 national central banks identified a collapse in a peripheral euro zone country’s banking system as something that could trigger a break-up of the bloc in its existing form. The ECB hosted a crisis communications exercise with officials from national euro zone central banks late last month that included a commercial bank collapse scenario.
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In the event of such a banking collapse leading to a country defaulting and – in a worst case scenario – leaving the euro zone, the central bank official said policymakers’ priority would be to protect the rest of the bloc.
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“In such a situation, we have to safeguard the rest of the system,” the official said, adding that this could involve reshaping the euro zone’s EFSF rescue fund and recapitalizing banks.
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Another euro zone central bank official pointed to Franco-German group Dexia as an example of a euro zone bank that recently got into trouble, requiring a government rescue, although the wider impact was limited.
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The likely burden of bailing out Dexia led ratings agency Moody’s to warn Belgium its Aa1 government bond ratings may fall. Standard & Poor’s subsequently downgraded Belgium, saying funding and market risk pressures were raising the chances its financial sector will need more support.
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