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Mish's Global Economic Trend Analysis: Bundesbank President Axel Weber Feuds with ECB President Jean-Claude Trichet about Defending Euro

Now that ECB President and monetarist pussycat Jean-Claude Trichet has Thrown the ECB Rulebook Out the Window, battle lines have formed in regards to defending the Euro.

Please consider Weber Draws Battle Lines as Pressure Mounts on ECB
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Trichet is also battling Merkel's Coalition Call for `Orderly' Defaults
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For more details, please see Merkel's Coalition Calls for EU `Orderly' Defaults; Spain Prime Minister says Speculation of a Bailout for Spain is "Complete Madness"

It seems that Bundesbank President Axel Weber and German Chancellor Angela Merkel have figured out a little something that escapes the mind of ECB President Jean-Claude Trichet: Defending the Euro from defaults by Greece, Portugal, and Spain may be extremely expensive, perhaps impossible.

The first article ("Weber draws battle lines") was noted here on ET.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Carrie (migeru at eurotrib dot com) on Sat May 15th, 2010 at 11:08:40 AM EST
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