I don’t actually think that these types of clauses are new. I greatly doubt that the IMF could claw back all its loans, over the decades, without such waivers of sovereign immunity.

What is new, is that people talk about them. And it’s extremely good that they talk about them. Sometimes in a well-informed manner (and this blog is well-informed) . Sometimes less so.

The bailout in Greece (like in other program countries) does impinge on the countries sovereignty. Any conceivable government in Greece is going to get pushed around by its creditors. But it’s better, I think, to intervene in a multilateral, treaty-bound manner.

Because treaties are binding on all participants. That waiver of sovereign immunity applies to all parties to the EFSF

Hi Mike,

There has over the past few weeks been quite a lot of revised alarmism on the Climate thing.
This blog is I think a balanced assessment of what is and isn’t happening or possibly going to happen.

http://bonald.wordpress.com/2011/09/05/climate-change-a-non-controversial-post-on-climate-sensitivity/

I have been reading this site for the past few days as well and recommend it quite highly

http://scienceofdoom.com/about/

I do think there are a whole ton of environmental problems and they are tied up intimately with the same Economic and inequality issues that people distort what the best current set of answers
would be is in little doubt take this guy for instance.

http://www.conservapedia.com/William_M._Connolley

FROM that law of nature by which we are obliged to transfer to another such rights as, being retained, hinder the peace of mankind, there followeth a third; which is this: that men perform their covenants made; without which covenants are in vain, and but empty words; and the right of all men to all things remaining, we are still in the condition of war. And in this law of nature consisteth the fountain and original of justice. For where no covenant hath preceded, there hath no right been transferred, and every man has right to everything and consequently, no action can be unjust. But when a covenant is made, then to break it is unjust and the definition of injustice is no other than the not performance of covenant. And whatsoever is not unjust is just Leviathan, chapter XV

The debate I think is masking the real problem and will be used to usher in a financial system that leaves us all frying in the final analysis one way or another but it will not be the CO2 that did it.

I wonder what JK would say.

http://www.boston.com/news/politics/politicalintelligence/2010/10/vermont_state_s.html

http://www.youtube.com/watch?v=QaZ8x-rQwD0

Why Governments should take their( our) Wallet Back from the Banks.

The emo spoilt brat, trustafarian Bankers have stolen the Family wallet and Dad is in the Pawn shop pawning mums wedding ring to get some groceries for the weekend. The brat is off Skiing for the weekend on the largesse of Dads wallet of course.
Solution, Take the wallet back tell the brat that they should earn their own money and save up for a skiing trip from their own money earned from their Saturday Job.

http://letthemconfectsweeterlies.blogspot.se/2013/01/why-governements-should-take-their-our.html

*Busts a chuckle*

Sold the American dream. To ninjas and feinds.
To big to fail, with stories of hell if you don’t let me feed.

I’m a lord of misdirection. Gotta hide my infection.
Dug up out the ground, shuffling around each and every nation.

So please understand. You gotta give me a hand ’cause I’m a broken bank.

People living on the street. Don’t save them save me.
’cause I couldn’t stand no bonus in hand.

No options.

No juicy fees.

And I like my lifestyle. Plan on living it a while.
Now my heart don’t beat, I got maggoty feet and my mouth is….

Oh so vile.

So you please understand. You gotta give me a hand ’cause….?
That’s right. I’m a broken bank.

In a mile of this nation. Zombie Corporation.
Now I feel at ease with my disease, and my contamination.

And I like my bluff style. Plan on living it a while.
And if you make a fuss. Those boots will come crush your tent domicille.

So please understand.

You’re gonna give me a hand.

Yeah.

’cause I’m a broken bank.

Yeah.

I’m a broken bank.

Honey, I’m a broken bank.

So tell me now why don’t you know that I’m a broke ass skank?

Can we get back to banker bashing please? 😛

http://www.youtube.com/watch?v=Z3T4swDjHII

Well, that puts us in our place 24K

Watched my favourite film again over the holidays and was reminded of another set of gangsters on the make in Greece – see if you can guess who they are:

“Now the guy’s got Paulie as a partner. Any problems, he goes to Paulie. Trouble with a bill, he can go to Paulie. Trouble with the cops, deliveries, Tommy, he can call Paulie. But now the guy’s got to come up with Paulie’s money every week. No matter what. Business bad? Fuck you, pay me. Oh, you had a fire? Fuck you, pay me. The place got hit by lightning, huh? Fuck you, pay me. Also, Paulie could do anything. Especially run up bills on the joint’s credit. And why not? Nobody’s gonna pay for it anyway. And as soon as the deliveries are made in the front door, you move the stuff out the back and sell it at a discount. You take a two hundred dollar case of booze and you sell it for a hundred. It doesn’t matter. It’s all profit. And then finally, when there’s nothing left, when you can’t borrow another buck from the bank or buy another case of booze, you bust the joint out. You light a match.”

Keep on keepin’ on Golem.