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News Link • Economy - International

The Charade of World Depression

• dailypaul.com

Self-righteous Germany must accept a euro-debt union or leave EMU If Germany and its hard-money allies genuinely wish to save the euro – which is open to doubt – they should stop posturing, face up to the grim imperative of a Transferunion, and desist immediately from imposing their ruinous and reactionary policies of debt deflation on southern Europe and Ireland ... One can sympathise with the German people. Their leaders in the 1990s told them "famine in Bavaria" was more likely than the preposterous suggestion that Germany might have to bail out countries as a result of EMU. But events have moved ... Chancellor Angela Merkel (left) must know that the Spanish state, juntas, and banks cannot refinance €300bn (£254bn) next year at a bearable cost if the Tesoro is already paying a decade-high of 5.45pc to sell 10-year bonds, yet she continues to play for time she does not have. – UK Telegraph

Dominant Social Theme: Germany must grasp the nettle.
 
 

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