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6 Tough Lessons That Germany Just Taught The Rest Of Europe

• Business Insider

According to multiple reports, Germany basically said: Tax your depositors, or you can leave the Eurozone. We're not just writing you a big check this time, because you're too small to really matter.

On the one hand you might say: Germany is writing the checks, so of course it can call the shots like this.

On the other hand, this look like German bullying causing a destruction of trust and wealth in the worst possible way.

Regardless of whether it's good or bad, it's clearly a message.

Citi's FX guy Steven Englander lists 6 lessons that Germany just sent the rest of Europe, particularly peripheral Europe.

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