To all European Fiefs and Vassals: 

Beware if you breach the Limit: budget deficits cannot exceed 3% of GDP.

To foreign (?) sovereign currency issuers: Don't meddle! or else. 

Kingdom of Europe

Merkel-Sarkozy (random order :)
Date: 


Today's announcement foretells the coming of the Kingdom of Europe. One wonders who the terrible duo are and what legitimacy founds their pretension. Wonder! were the United States to voice such a position. European sovereign issuers or any sovereign issuer. Is this History or the loud boast that speaks the vacant mind...the boast of a florid vigor not their own! Now let's put your money where your mouth is- does the ECB-Draghi print money or not? Does it keep on lending and purchasing bonds?

The United States Secretary of the Treasury Geithner will certainly go back to Europe soon in order to ensure mutual understandings of the intent.

Heaven spare the democracies. Oliver Goldsmith's The Deserted Village is worth the read.