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Der Spiegel: 'Consensus Is Growing' for ECB and IMF Takeover of Euro-Crisis


Free-Market Analysis: It is all too predictable. We've been writing for months on the possibility that the entire EU crisis is a kind of contrived one and this article post at Der Spiegel Online does nothing to discourage this supposition.

It's likely nothing more than a power elite dominant social theme, that the Euro-crisis is a deadly one and that the EU simply cannot figure out what to do. The meme is simple: Financial leaders with power and common sense must come to the rescue.

Isn't it obvious who the heroes are going to be? Why, the central bankers, of course! These good, gray men with careful phraseology and elliptical sentiments are the hope of mankind. When politicians dither and markets act irrationally these mavens of monetary price-fixing will get the job done.

A central banker is looking to lead the Greek unity government – which is unified with the efficiency of a shotgun marriage – and now Der Spiegel, Germany's leading elite mouthpiece, informs us that consensus is "growing" to have the IMF and ECB "play a greater role." What a coincidence.


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