Strong support for Merkel ahead of the Euro bail out summit

Wednesday, October 26th 2011 - 15:22 UTC

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Germany's Bundestag lower house of parliament approved on Wednesday a motion to strengthen the Euro zone rescue fund via leveraging, providing Chancellor Angela Merkel with the mandate she needs to negotiate at a key Euro summit in Brussels. Read full article

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fantazum2011
They are making a big error that will hang germany in chains of debt and accomplish nothing.
The ten member states like Britain, that do not have monetary union could decide their own fiscal policy via a union within the union.
If Greece leaves the union it will cause an exodus of capital not just from Greece but also Portugal,Spain,Italy and even Ireland - which will make matters a lot worse.
Whatever choice - within the present parameters - the directors of the Union decide - they cannot win unless they actually abandon the banking system and its debts which is unthinkable.
If they keep the Union together, they drag the people of Europe into generations of debt for perhaps no result.
If they abandon Greece and perhaps Portugal and Italy and Spain, then a catastophic collapse of the banking system might occur.
A terrible predicament.
Oct 26th, 2011 - 09:59 pm - Link - Report abuse 0
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Fido Dido
Europe is finished, spiritual, culturally and financially. Those intelligent psychopaths know what they are doing but destroy the nation pure for money, though they tell in front of the camera it's bad but necessary and that its normal, that to save a money problem with more money created of nothing.
Oct 27th, 2011 - 03:37 pm - Link - Report abuse 0
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