German President Demands
Merkel Explain 'Why Germany Needs To Save The Euro'
Tyler Durden
While we have been surprised
by the lack of public consternation within Germany at the real levels of
servitude that an ungrateful Europe is trying to shove down the German
taxpayer's throats; this week it appears the rubber is starting to meet the
road. As Europe Online reports, German President Joachim Gauck called for Chancellor
Angela Merkel to explain why Germany needs save the euro - at great
expense to the country‘s taxpayers - and what will be necessary. In a TV
interview, Gauck (having no doubt read our recent explanations of theTARGET2 ticking time-bomb and thereal cost of GRExit) said that Merkel "has the duty to
describe in great detail what it means [to stay in the Euro],
including what it means for the budget". In a somewhat shockingly honest
(for a European leader) comment he said that the political establishment has
struggled to explain why it is vital for Germany to do its part to save
Europe's currency union. Perhaps reflecting Juncker's Modus operandi, Gauck
added that "sometimes it‘s hard to explain what this is all about. And, sometimes,
there‘s a lack of effort to openly tell the populace what is actually happening."
TheTelegraph adds, anti-euro protest within Germany is becoming
louder as potential costs escalate (as
we noted here) and a group of 170 economists from the 'German-speaking'
zone published a warning -letter that a banking-union aggregating EUR23
trillion of bank debt would expose northern creditor states to ruinous
liabilities (quite notable given the WSJ's report tonight that the overarching banking supervisorory body is getting close- more rumors).
They said such a move
would lead to bitter discord between countries and ultimately poison the
European Project. The group called for the losses to be imposed on banks
and creditors, claiming the EU's current bail-out policies amount to a rescue
for "Wall Street and the City of London".
Pro bail-out economists in
Germany said such arguments are reckless and echo the sort of
"liquidationist" thinking that allowed the US and Central
European banking systems to collapse in 1931, with dire consequences.
Tyler Durden, here
Nenhum comentário:
Postar um comentário
Não publicamos comentários de anônimos/desconhecidos.
Por favor, se optar por "Anônimo", escreva o seu nome no final do comentário.
Não use CAIXA ALTA, (Não grite!), isto é, não escreva tudo em maiúsculas, escreva normalmente. Obrigado pela sua participação!
Volte sempre!
Abraços./-