Euro shambles drifts on...and on

The G20 conference in Mexico has resolved nothing.  Non- eurozone members of the G20 are looking to the eurozone to strengthen its firewall before offering any further support.  The IMF is supine.  The German Chancellor has admitted the last Greek bailout agreement is not guaranteed to work. Nevertheless the German parliament has approved the second Greek bailout package.It is a shambles.  The final link in this post considers the misery the Greek people are being subjected to.

http://www.telegraph.co.uk/finance/financialcrisis/9107437/G20-leaders-insist-no-more-IMF-cash-unless-eurozone-boosts-financial-firewall.html

http://www.spiegel.de/international/europe/0,1518,817818,00.html
Leaders buy time at G20 summit.

http://www.telegraph.co.uk/finance/financialcrisis/9107732/IMF-chief-Christine-Lagarde-admits-there-may-be-no-accord-on-a-European-war-chest-by-April.html

http://www.telegraph.co.uk/finance/financialcrisis/9108261/Germany-set-to-approve-Greek-rescue-despite-public-anger.html

http://www.spiegel.de/international/europe/0,1518,817887,00.html
Germany has become the new villain.

http://www.spiegel.de/international/europe/0,1518,817795,00.html
Europe is pouring money into a bottomless barrel

http://www.spiegel.de/international/europe/0,1518,817858,00.html
Merkel rebukes minister for comments on Greece.

http://www.spiegel.de/international/europe/0,1518,817881,00.html
German parliament approves bailout package.

http://www.telegraph.co.uk/finance/financialcrisis/9109722/Germany-approves-Greek-bail-out-but-warns-Angela-Merkel-against-further-help.html

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100015249/and-the-winner-is%E2%80%A6-greece/

http://www.telegraph.co.uk/news/worldnews/europe/greece/9107647/Greece-sinks-to-its-knees.html

Is this how it will be?

Thought provoking article by Liam Halligan.

http://www.telegraph.co.uk/finance/financialcrisis/8917915/It-is-now-becoming-clear-Germany-has-had-enough-of-this-euro-mess.html

As I read it, Halligan is stating that German self-interest will triumph over team Europe.  Likely outcome is a fudge, although I do agree that some of the peripheral states will leave the eurozone. I  have posted previously articles on the 'new' Europe.  It remains to be seen if Germany will support major reforms of the EU which will require nations to forgo sovereignty in the economic sphere.

Bismark, Kaiser Bill, Hitler, Merkel.



http://blogs.telegraph.co.uk/news/petermullen/100117608/the-founders-of-the-eu-were-trying-to-prevent-another-german-superstate-but-that-is-precisely-where-we-are-heading/