And it all comes just days after Bilderberg 2012.
Monti, Barroso, etc had all been calling for Eurobonds, in which Germany would take all the risk, but a different and more subtle solution is being proposed, but in this solution Germany would take all the risk.
Confused?
You should be.
When it comes to this knd of international finance you are just supposed to shut up, drink your chemical water, eat your GM food, watch brainless TV and soak in all the pro-war propaganda.
Is Tsipras (the communist) prepared to cede yet more Greek sovereignty to a centralised Federal Europe?
Pressed by a banking crisis and turmoil in the markets, Germany has indicated that it is prepared to accept a grand bargain that would provide greater support for its most indebted euro zone partners in exchange for more centralized control over government spending in Europe.[source : Germany Is Open to Pooling Debt, With Conditions, New York Times, 05/06/2012]
...German officials remain adamant that they are not talking about euro bonds, or jointly issued debt, which they have dismissed as unconstitutional. More likely is a plan to combine much of Europe’s bad debt into a single fund with the idea of paying it off over 25 years, an idea gaining traction in Germany as an alternative to euro bonds, officials say.
German leaders have not provided details of a potential deal — and not every country may be eager to sign on — but it would be likely to mean an expansion of executive power in Brussels over fiscal targets in member states and supervision of their banks, along with Europewide deposit insurance. It would go far beyond what was contemplated for Europe even six months ago.
...“Merkel is slowly adapting to different times because she is afraid of not jumping on the train in time,” said Stefan Kornelius, foreign editor of the German newspaper Süddeutsche Zeitung. “She doesn’t want to be the gravedigger for the euro.”
No comments:
Post a Comment