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German Chancellor: “There’s A Rumor Going Around That States Cannot Go Bankrupt. This Rumor Is Not True.”

Posted By admin On February 3, 2009 @ 4:44 am In Commentary | Comments Disabled

George Washington’s Blog [1]
Tuesday, Feb 3, 2009

In an article entitled “Can Countries Really Go Bankrupt? [2]“, Germany’s leading newspaper, Der Spiegel, boldly addresses the fact that the financial crisis might cause a number of countries to go bankrupt.

The article contains the following quote:

“There’s a rumor going around that states cannot go bankrupt,” German Chancellor Angela Merkel said recently at a private bank event in Frankfurt. “This rumor is not true.”

Merkel is not alone in saying this. The Spiegel article quotes two top American economists – Carmen Reinhart and Kenneth Rogoff – who say that states might go bankrupt because they do not understanding the financial crisis, and are repeating mistakes from the past:

It would be an illusion to believe that countries have learned from their past mistakes, US economists Reinhart and Rogoff warn. In fact, another state could go bankrupt at anytime and take its people down with it.

German Chancellor: Theres A Rumor Going Around That States Cannot Go Bankrupt. This Rumor Is Not True.  161008pptv3 [3]

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URLs in this post:

[1] George Washington’s Blog : http://georgewashington2.blogspot.com/2009/02/german-chancellor-theres-rumor-going.html

[2] Can Countries Really Go Bankrupt?: http://www.spiegel.de/international/world/0,1518,604523,00.html

[3] Image: http://www.prisonplanet.tv/subscribe.html

[4] German Chancellor Merkel Calls For A “New Global Order”: http://www.prisonplanet.com/german-chancellor-merkel-calls-for-a-new-global-order.html

[5] Merkel, the Red footsoldier: German chancellor under fire over Communist links as image of her in uniform is released: http://www.prisonplanet.com/merkel-the-red-footsoldier-german-chancellor-under-fire-over-communist-links-as-image-of-her-in-uniform-is-released.html

[6] German Chancellor Merkel Calling for Raids on Homes: http://www.prisonplanet.com/german-chancellor-merkel-calling-for-raids-on-homes.html

[7] German Chancellor, Ministers Get Special Vaccine Without Soft Kill Ingredients: http://www.prisonplanet.com/german-chancellor-ministers-get-special-vaccine-without-soft-kill-ingredients.html

[8] Some European Countries Are Bankrupt: Jim Rogers: http://www.prisonplanet.com/some-european-countries-are-bankrupt-jim-rogers.html

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