ESM REFERRAL: Does S&P have a mole inside the Karlsruhe Court?

I just got this from S&P: (My emphases)

‘Standard & Poor’s Ratings Services said today that the delay by the Federal Republic of Germany (unsolicited ratings AAA/Stable/A-1+) in ratifying the European Stability Mechanism (ESM) has no immediate rating implications for sovereigns in the European Economic and Monetary Union (EMU or eurozone).

The ruling coalition and the main opposition parties have been able to agree on a pact for sustainable growth and employment. This therefore established the necessary two-thirds majority required for parliamentary ratification of the ESM, expected on June 29, 2012. However, Federal President Joachim Gauck is reportedly withholding his signature until the Federal Constitutional Court in Karlsruhe has given its opinion on whether the ESM is compatible with the German constitution.

We believe this will cause a delay and that it is now unlikely that the ESM will be legally ratified by July 1, as originally planned. Nevertheless, we anticipate that the decision from Karlsruhe will be swift, allowing for a final ratification of the ESM in the near future. We therefore consider that the delay in obtaining political approval has no implication on any sovereign rating in the eurozone.

An unexpected and more significant delay in making the ESM operational, however, could in our view have negative consequences. The ESM is a key pillar in Europe’s crisis management efforts. Failure to enact it in a timely manner could, in the absence of offsetting arrangements, cause negative rating implications, especially–but not necessarily exclusively–for the lower rated euro area member sovereigns.’

Obviously, Standard & Poors know something we don’t. I wonder what it might be, and who briefed them?

30 thoughts on “ESM REFERRAL: Does S&P have a mole inside the Karlsruhe Court?

  1. Has anyone heard of the trillion dollar lawsuit filed by Neil Keenan in the Southern District of New York 11/23/11? I went on PACER to confirm it although it is all over the internet. I use several sources and understand Mr. Keenan using admiralty law has legally stopped all central banks including the IMF from any money creation/movement through liens and civil warrants. He now has control of the collateral accounts and the plan is to bring down the crooks and use the 70 Trillion Dollars (minimum amt I have heard) to refund every country, unleash all suppressed technology (Tesla stuff as well as much more-check out PEWSKI page as there are factories working right now), end poverty worldwide and go to a sustainability economy!


  2. Most probably their information is as good as the information they had when rating all tose AAA CDOs.


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  4. Completely OT but I cannot resist it:

    A British Engineer just started his own business in Afghanistan.
    He’s making land mines that look like prayer mats.
    It’s doing well.
    He says prophets are going through the roof.


  5. Fabulous. It similar to 2 Muslim mother talking about their children and one says to the other, ” They blow up so quickly these days, don’t they?”


  6. Perhaps UK Trade Minister Vince Cable could visit Afghanistan to congratulate this new enterprising British start up. Export credits could be offered to assist with the expansion of sales around the rest of the worlds trouble spots. Makes you proud to be British.


  7. Better and better :-)

    A Rabbi told me this one …

    Four people in the carriage of a train – a Jew, a pretty young blond, an old woman and a Muslim. It all goes dark when the train goes through a tunnel.

    In the dark there’s the sound of an almighty slap, and when the train emerges from the tunnel the Muslim is rubbing his face, and there’s a huge red mark on his cheek. The old lady thinks “I bet that Muslim fondled the blond in the dark and she slapped him”. The pretty young blond thinks ”I bet the Muslim tried to fondle me in the dark, got the old lady by mistake, and she hit him”. The Muslim thinks “I bet that dirty Jew fondled the blond in the dark, but the blond thought it was me and hit me”. The Jew thinks “Oh good – here comes another tunnel … I can slap that raghead schmendrick again”.


  8. Pingback: ESM REFERRAL: Does S&P have a mole inside the Karlsruhe Court? | Machholz's Blog

  9. No mole – this is straightforward threats. Read it again: it says “if the court doesn’t ratify PDQ, we’ll trash your banks.”

    Remind me again who controls the rating agencies……


  10. We agree that the solution to the Eurozone problems is more Europe, not less Europe” ….. Fuhrerin Murky after the summit today between Germany, France, Italy & Spain.

    Is this evidence that she’s fallen off the potty?


  11. Really is amazing what Broadmoor is achieving nowadays..
    Their graduates seem pervasive in Govt and
    against it ,at the same time.


  12. oh goody, i love europeans…

    …and now completely off-topic, but i would like to use this platform to investigate the question as to whether it is racist to say it’s not racist to be paranoid about immigration? to which the answer is: well, not really, you know…now we’ve got the proles i mean the poles…we are afforded the unique opportunity of redistributing hate to foreigners in the spirit of equality and racial inclusivity, key values upon which the very pillars of our new customized euro-centric brand of progressive socialism are founded.


  13. yes, ed…uniting in holy acrimony the otherwise independently co-existing ideals of nationalism and socialism is an admirable cause, yet one fraught with certain dangers – adolf had a go,and came awfully close to a total realization of his dream, because, unlike the soft-centred socialist states of europe today, which build for their citizens a cosy nest of comforting communal values at the expense of other not-so-european parts of the world, the visionary leader of the third reich brilliantly understood that for socialism to reach its full potential impact on humanity, the benefits of socialist principle in its purest form would have to be made accessible to folks in all corners of the earth, and thus his deep ideological commitment drove him in a valiant attempt to forge the divided peoples of the globe into one nation, however, he unfortunately met with considerable resistance from less forward-thinking races, in whose countries the big society concept did not exactly catch on (a sorry situation which historians ultimately put down to some dodgy decisions made by his image management consultants and public relations agents).

    interestingly, some years later, a talented reggae artist took some of adolf’s unifying ideas and stage-moves, together with copious amounts of ganja, tweaked them slightly, and, with the help of a little folk music, succeeded in spreading socialism across the planet through the power of love alone, and all this without unduly getting off his arse or raising a beat in anger – a truly compelling story, which gives anthropologists, such as myself, a useful insight into the continually debated conundrum of whether history would have turned out the same if hitler had been a black man?


  14. of course, the jury’s still out as to whether obama can ever emulate the achievements of bob marley – admittedly he can hold a mean tune, but i’m not sure he’s got the bounce.


  15. either they know something or more likely they are just publishing the normal bullshit and manipulation….


  16. Pingback: MERKEL’S HURRY-HURRY ESM TACTICS: Full spectrum of German press gives her a drubbing | A diary of deception and distortion

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  18. Pingback: John Ward – Merkel’s Hurry-Hurry ESm Tactics : Full Spectrum Of German Press Gives Her A Drubbing. Germany Is Gradually Waking Up To The Danger – 24 June 2012 | Lucas 2012 Infos

  19. “we anticipate that the decision from Karlsruhe will be swift, allowing for a final ratification of the ESM in the near future”
    So do I. Why you ask?
    Because not once in the last 20 years has the Karlsruhe Court pulled a law or treaty pertaining the EU, no matter how unconstitutional they were.
    They will nod off the ESM too, maybe while paying a little lip service.
    S+P knows that as well.


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