Herman Van Rompuy Says No Eurobonds Until Things Are in Balance … In The Age Of Neoauthoritarianism, Seigniorage, That Is Moneyness Will Come Through The Word, Will And Way Of The Sovereign

European Financial Institutions Report For Friday August 19, 2011

The WSJ reports Stocks Tumble On US Growth Fears, European Banks; DJIA Off 435  Stocks tumbled amid growing fears of a global recession, as investors confronted a grim mix of US economic data and fresh concerns about Europe’s banks. European Financials, EUFN, -1.5%, -7.3% for the week, -22.6% year to date.

Bloomberg reports Europe Banking Shares Tumble for Third Day on Funding, Earnings Concern. European banks, EUFN, tumbled, led by Lloyds Banking Group Plc (LLOY) and Intesa Sanpaolo SpA (ISP), on concern firms will struggle to fund themselves and increase earnings as the region’s sovereign debt crisis strangles economic growth. Lloyds, Britain’s second-biggest government-assisted bank, fell 6.2 percent in London trading, while Intesa slid 5.9 percent in Milan. The 46-member Bloomberg Europe Banks and Financial Services Index tumbled 3 percent after dropping the most in two years yesterday. While “the chances of a genuine liquidity crisis as experienced in 2008 are reasonably remote,” lenders may face a “slower-moving, but still toxic, funding crisis,” Deutsche Bank AG (DBK) analyst Matt Spick said in a client note. Moreover, “the weight of negative earnings momentum as we head into the second half represents a major ongoing risk for the European banks,” he said. The Bloomberg European banks index tumbled 10 percent this week on signs lenders are facing tougher funding conditions. Banks’ sale of long-term debt fell behind again in July and August, which may be the weakest month on record, and that could force firms to further reduce leverage, bad news for banks and the economy, Spick said in the note.

Bloomberg reports Financial Debt Risk Jumps to Record in Europe on Growth Concern. The cost of protecting European financial debt surged to a record on concern global economic growth is faltering and banks will struggle to fund themselves. The Markit iTraxx Financial Index of credit-default swaps linked to senior debt of 25 banks and insurers increased as much as 12 basis points to 243, a record based on closing prices, according to JPMorgan Chase & Co. and was trading at 237 basis points at 10:30 a.m. in London. The Markit iTraxx SovX Western Europe Index of swaps linked to the debt of 15 governments increased for a third day, climbing 1 basis point to 291. Contracts on Spanish government debt rose 6 basis points to 370, according to CMA. Italy swaps added 8 basis points to 362 and France was up 2 to 152. The Markit iTraxx Crossover Index of 40 companies with mostly high-yield credit ratings increased 11 basis points to 655.5. The Markit iTraxx Europe Index of 125 companies with investment-grade ratings rose 2 basis points to 154 basis points.

Herman Van  Rompuy is a European Federalist and an Authoritarian. He spoke with the Authoritarian Imperative of the Clarion Call of the Club of Rome for regional economic governance in Bloomberg article  EU President Van Rompuy Opposes Common Euro Bonds stating “We could have euro bonds on the day when there is genuine budgetary convergence, the day when everyone is in balance or virtually in balance.”  Soon, the stock values of the European Financials, EUFN, will be worthless as investors flee from the European sovereign debt crisis. Then the European Treasuries will be equivalent, that is all in balance, having no value. At that time, out of global financial collapse, a New Seigniorage, that is a new moneyness. will come forth from the word, will and way of the European Sovereign, and his Banker, The Seignior, who will be appointed by European Leaders such as Angela Merkel and Nicolas Sarkozy. Diktat, not Liberty will carry Neoauthoritarianism’s moneyness, and the people will marvel, and be amazed and follow after it, giving their full allegiance to it.    

The true European Government Government called for by Chancellor Merkel and President Sarkozy, is part of the Ten Toed Kingdom of Global Economic Governance which forms the Beast Regime of Authoritarianism replacing the Milton Friedman Free To Choose Currency Regime, which passed away in May 2011, when the wold stocks, ACWI, fell lower.

The Clarion Call of the Club of Rome for regional economic government was heard and heeded by Chancellor Merkel and President Sarkozy. Clarion means trumpeting, as the word comes from the Latin ord for trumpet and translates into English as clear, ringing and sharp. It is a call to action, a call to duty.

The two foremost European leaders have suggested Herman Van Rompuy as the leader for the European Economic Government. It’s likely that he will rise to be President of the EU. Mr. Van Rompuy is distinguished in that he is brilliant, multilingual and unlike his peers, does not get involved in affairs with women. He will come in like a lamb, yet proceed like a fierce lion. His rule will be characterized by wildcat governance, as he will have to contend with many who oppose his way of austerity and reject his Seignior’s moneyness, which will be based upon their word, will and way. This Sovereign, will be the New Charlemagne, in a type of Revived Roman Empire.     

The Call of the Club of Rome produced an authoritarian imperative for regional economic goverment, which will come as leaders meet in summits and waive national sovereignty. The 1974 Conclave of Elites’ Call, is like a magnet drawing iron elements. it is both clear and compelling. Mrs Merkel will likely loose her elected office, yet the die is cast and destiny moves on. Neoauthoritarianism has replaced Neoliberalism, and fate will work to produce regional economic government in the world ‘s ten regions.

Neoauthoritarianism is characterised by wildcat governance, as seen in the Reuters reports Nine dead in Taliban assault on British Council in Kabul. Taliban attackers laid siege to a British cultural center in the Afghan capital on Friday, killing at least nine people during an hours-long assault. And Neoauthoritarianism is characterised by The  Spirit of Wilding as is seen in the Associated Press report Rapper arrested in Ohio after organizing flash mob.

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