France v Germany

Quite like times of old.  What a mess. Looks like EU is siding with France and ECB with Germany.

Readers of my blog will not be surprised that it has come to this.  The signs have been there for weeks that there are fundamental differences between Germany and France.

http://www.spiegel.de/international/europe/0,1518,792939,00.html

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100012749/sedan-again-as-germany-imposes-terms/

http://www.telegraph.co.uk/finance/financialcrisis/8838452/Franco-German-split-threatens-EU-summit.html

http://www.telegraph.co.uk/finance/financialcrisis/8838425/Euro-summit-statement-the-leaked-draft.html

Leverage explained:

http://www.spiegel.de/international/europe/0,1518,792994,00.html

Italy on the brink.....

http://www.telegraph.co.uk/finance/comment/jeremy-warner/8839450/Italian-bond-yields-reach-point-of-no-return.html

Not part of this blog item, but of interest.

http://www.telegraph.co.uk/finance/comment/8839697/EUs-new-six-pack-shows-just-how-tough-Europe-will-be-on-national-governments.html