“It is a message that many people in Germany will recognize.”

17 Jul

And in the rest of Europe as well.

The Germans were never going to bail out the rest of Europe – it was only a matter of time until German Nationalism reared its head…

It began when Bavarian Premier Horst Seehofer, who is also the head of the Christian Social Union (CSU), the Bavarian branch of Ms. Merkel’s party, declared two weeks ago that he would pull all the Bavarian seats out of Ms. Merkel’s coalition if she allowed the European Stability Mechanism to finance bailouts of more countries.

There is a real mood among many voters in Bavaria that they don’t want to pay for the rest of Germany, and even less do they want to pay for the rest of Europe.

Odds on how long until France collapses, and Germany pulls out of the EU…

As the Socialists in France are discovering- you can’t tax your way out of this mess…

Wealth has become stateless, and as a consequence it is becoming increasingly less accountable to any state’s laws or tax codes.

Globe and Mail, Zero Hedge

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