Germany is calling the shots in the eurozone crisis. Quite apart from bullying Greece (aided and abetted by the French), Germany is using its economic muscle to get its own way. The European Central Bank is in thrall to Germany and any action it takes is to support the needs of the German economy rather than the needs of all members of the eurozone.
One reason non eurozone G20 countries are expressing reluctance to support the eurozone bailout funds is that the matter could be resolved by the European Central Bank buying sovereign debt and engaging in quantitative easing. It will not, as that would upset Germany.
http://www.telegraph.co.uk/comment/telegraph-view/8867799/A-show-of-brute-force-inthenew-Europe.html
http://blogs.telegraph.co.uk/news/charlescrawford/100115013/the-eurozone-crisis-is-eroding-our-democracy-how-do-we-withdraw-our-consent-from-being-governed-like-this/
http://blogs.telegraph.co.uk/news/danielknowles/100114906/germany-must-learn-from-its-history-and-forgive-greece/
http://www.telegraph.co.uk/finance/comment/jeremy-warner/8868316/ECB-President-Mario-Draghi-cuts-the-euros-last-lifeline.html
http://www.spiegel.de/international/europe/0,1518,795907,00.html
Italian woes: http://www.spiegel.de/international/europe/0,1518,795900,00.html
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