Just like two Thursdays ago the market plunged to give Europe a heads up on what will happen if the $1 trillion bail out contemplated that weekend is not passed, so in advance of tomorrow's critical Bundestag vote to ratify the European aid package we will likely see another unprecedented market collapse. Why critical? Dirk Schumacher from Goldman explains.
Merkel warns of failure of EMU - Bundestag to vote tomorrow on help package. In yesterday's debate in the Bundestag of the €750 billion help package chancellor Merkel warned that "a failure of the Euro would be a failure of Europe" and that the current crisis is "existential" and that "this test needs to be passed". No doubt that these dramatic words are meant for those coalition MPs that haven't been fully convinced yet to approve the help package in the Bundestag tomorrow.
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