Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Germany Was Out-Voted And Forced To Bail Out Europe

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Vincent Fernando, CFA
Business Insider
May 11, 2010

It increasingly looks like Germany is simply being out-voted and  out-maneuvered, thus forced into effectively bailing out the Eurozone as the largest and strongest Eurozone economy.

In regards to the latest European plan:

Telegraph:

It is clear, however, that the two German members of the ECB’s council voted against the move, a revelation that may cause a catastrophic political backlash in Germany.

Axel Weber, ultra-hawkish head of the Bundesbank, told Boersen-Zeitung that the emergency move over the weekend had been a mistake. “The purchase of government bonds poses significant stability risks and that’s why I’m critical of this part of the ECB’s council’s decision, even in this extraordinary situation,” he said. The rebuke is devastating. The ECB draws it authority from the legacy and aura of the Bundesbank.

Germany Was Out Voted And Forced To Bail Out Europe 100210banner1

  • A d v e r t i s e m e n t

The European Commission made matters worse by announcing the decision in the small hours of Monday morning before the ECB had spoken, fueling suspicions that monetary policy is being dictated by the political authorities. French President Nicolas Sarkozy further enraged Berlin by claiming that 95pc of the $1 trillion “shock and awe” rescue package was based on French proposals.

There even doing regulatory back-flips to avoid German opposition:

The eurozone will create a Special Purpose Vehicle able to marshal a further €440bn. This is to be a outside the EU institutions on German insistence in order to circumvent the EU’s “no bail-out” law. The hope is to head off trouble at Germany’s constitutional court, though it is certain to be challenged anyway.

Read more here >

This article was posted: Tuesday, May 11, 2010 at 4:08 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
DHS Blocked Possible Ebola Cure See the rest on the Alex Jones YouTube channel.

Mexican President Invites More Illegals To U.S. See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.