Germany, pull your head out of your arse!
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An escalation of the eurozone debt crisis could force European banks to sell assets worth up to $3.8 trillion (£2.4 trillion) by the end of 2013 and trigger a fresh credit crunch, the International Monetary Fund has warned. Look Germany, 1920 was a long time ago. The political landscape is different, inflation is NOT gong to give rise to a new Hitler OK. Get over it, it happened, but today is different OK? The ECB needs to massively increase liquidity in order to deleverage, the same as the US, UK and Japan have done. Trying to pay debts off with austerity is only gong to lower GDP, reducing revenue and reducing the ability to pay off those debts. If you dont like it Germany, then leave the euro, if you want to stay part of the club, then let the ECB make policy that benefits the whole of the EU zone and not just you. And dont forget the EU held interest rates down to allow you to manage the absorbtion of Eastern Germany, low rates that created the credit bubble in the south of Europe. Rant over...
============================== Nothing to say.