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GLD 399.01+0.1%Dec 19 4:00 PM EST
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To: Haim R. Branisteanu who wrote (91487)6/14/2012 6:50:20 AM
From: elmatador1 Recommendation  Read Replies (1) of 218621
 
Germany not capable of assuming responsibility for the debts of all its partners in the eurozone. Rejects demands for urgent introduction of jointly guaranteed eurozone bonds or the creation of a publicly funded bank deposit guarantee scheme

Instead they are calling for a fundamental process of negotiating a “fiscal union” to underpin the common currency. But they warn that it is likely to take many months of talks to agree on measures to reinforce the economic integration of the common currency area, almost certainly involving the politically unpopular process of changes in European Union treaties.
ft.com

Why Germany did not take this position at the onset?
Why it pretended that it was a big economy?


If German government was honest it would have said at the onset of this criss:
Now it is every man for himself. The crisis is so deep that there is no chance for the Euro to survive.

But the outside world was believing that Germany was a big economy and it was in a position to save the currency union.

Germnay, is a big country among Europeans, in the whole world conext it is a minnow. It is a high technology giant but an economic minnow. Why is Germany a minnow? Because Gemrnay has no natural resources. It is a big Switzerland.
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