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Dude, it's Reuters saying the Frankfurter Allgemeine and FT-Deutschland published rumours coming from the German government which Reuters determined couldn't be substantiated.

In June, about Spain.

Then Ireland, then Portugal.

Let me remind you that Spain's response to the rumours was to threaten to publish bank stress test data, at which point Germany was livid and did its utmost to water down what was finally publshed a month later. Also, publication of banks' sovereign debt exposure was made voluntary, with Deutsche Bank being the only major bank refusing to disclose any data.

It's all circumstantial but it's pretty damning.

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman

by Migeru (migeru at eurotrib dot com) on Fri Feb 4th, 2011 at 11:33:51 AM EST
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