Tweet
Tweet
Tweet
Tweet

Waspsnest’s Contributors

The Wasp
Mr Raccoon

Bundesbank to the EU – If you want saving you have to accept the 4th Reich.

One from ZeroHedge on the statement by the Bundesbank on the EU financial situation which appears to be nothing more than Germany making an offer of help that no one can possibly accept thus leaving Germany with a clean conscience – we offered our help but you didn’t want it :

Here are the salient points from the just released Bundesbank manifesto of Mutual Assured Anschluss or else:

Overall, there is a risk that the originally agreed institutional framework of the monetary union will increasingly become eroded.

As noted, there is but one proposed solution:

Unless and until a fundamental change of regime occurs involving an extensive surrender of national fiscal sovereignty, it is imperative that the no bail-out rule that is still enshrined in the treaties and the associated disciplining function of the capital markets be strengthened, and not fatally weakened.

You want your stupid brilliant monetary union? Fine.

You want us to pay for it? Sure.

The cost? Your “extensive” national independence.

You have to admit that coming out and stating the obvious for a change – “… an extensive surrender of national fiscal sovereignty …” raises the game somewhat in the bailout stakes.

I will leave the last word to ZeroHedge :

We were wondering how long it would be before Germany, following in the footsteps of such luminaries as Hank Paulson and Tim Geithner, would formally announce to the world that with it now openly calling the shots in Europe, it would be its way or the mutual assured destruction way. We just got our answer courtesy of the just released August Outlook from the Bundesbank, in which the German national bank lays out the framework of the upcoming European anschluss play by play, as Germany prepares to roll out the Fourth Reich welcome mat without ever spilling a drop of blood. After all: why injure the soon to be millions of debt slaves?

Debt slaves indeed.

Related Posts with Thumbnails
Share

Comments are closed.