Eurocrash: “no German money for bankrupt states”

2 Aug

The Germans are getting ready to pull the pin….

This lead item in a popular tabloid illustrates once again the deteriorating sentiment in Germany, where the euro has completely lost its shine.

Bild also notes that Italy and Spain will need €1 trillion new money to cover ongoing costs up to 2014, and will have to sell government bonds to cover the debt. But, it says, ordinary investors like banks and insurance companies no longer trust the paper – hence the pressure for the ECB to step in.

But Germany would have to cover 27 percent of the debt, and CSU general secretary, Alexander Dobrindt is recruited to say that if the ECB provides the money, it threatens the 70-year inflation record.

Odds that Germany leaves the Euro before Greece…?

 

EU Referendum

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