Title: Mcgowanjm Wire 2012 Source:
[None] URL Source:[None] Published:Feb 26, 2012 Author:Various Post Date:2012-02-26 09:15:13 by A K A Stone Keywords:None Views:1303880 Comments:2390
The periphery nations, led by Spain, are pushing on Germany and the funding nations to step-in but the cost will be very high and a huge loss of sovereignty. I doubt if many in Europe understand the price that will be extracted which will be the EU taking over Spain’s financial system, taxes and social services so that Brussels/Berlin will control the country.
June 6, 2012 CRASH 2: Berlin reverses its millimetre of movement on eurobonds
The Earth may be turning, but the economy is at Dead Stop
‘Germany has not moved one inch towards fiscal union of any kind’ writes Ambrose Evans-Pritchard in today’s Telegraph.
And I’m afraid he’s right. Merkel is a crafty minx, and no mistake: she appeared to have buckled yesterday, but now she’s upped and said “Oooo nein, you misunderstood me”. This isn’t playing well in either Washington (where Geithner is tearing his hair out by the roots) and back in Bankfurt, where – I’m told – even Draghi looked exasperated after taking a phone-call from the Ostikanzler yesterday late afternoon."
