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So Germany has to change its constitution?

Well, I have heard that changing constitutions in order to deal with the euro crisis is popular in German leadership so that should not be a problem right?

</snark>

But seriously, how fast could Germany change its constitution to allow permanent transfer of fiscal sovereignty?

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by A swedish kind of death on Mon Sep 12th, 2011 at 04:32:30 AM EST
[ Parent ]
If they could somehow hire Zapatero, it should be pretty quick....
by gk (gk (gk quattro due due sette @gmail.com)) on Mon Sep 12th, 2011 at 04:34:13 AM EST
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There is not much popular support in Germany for the eurobonds. If they'd also need to change the holy Grundgesetz (think US Constitution), the political and popular will should be about zero. In my opinion, the German Constitutional court just killed the Eurobond.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Mon Sep 12th, 2011 at 04:48:27 AM EST
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In 2009 they introduced a debt brake in the Grundgesetz, making it more holy.

Economics is politics by other means
by Carrie (migeru at eurotrib dot com) on Mon Sep 12th, 2011 at 05:03:48 AM EST
[ Parent ]
And even less sinfull... :P

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Mon Sep 12th, 2011 at 05:13:12 AM EST
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Less sinnvoll I would say...

Economics is politics by other means
by Carrie (migeru at eurotrib dot com) on Mon Sep 12th, 2011 at 05:25:20 AM EST
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Could you please cite regarding popular support?

Both opposition parties support Eurobonds (SPD and Greens), as well as a majority of the CDU/CSU. Do you think the parties would take that position if there weren't some popular support? (this doesn't mean there is no opposition to Eurobonds, of course.)

"Life shrinks or expands in proportion to one's courage." - Ana´s Nin

by Crazy Horse on Mon Sep 12th, 2011 at 06:37:34 AM EST
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That is hopeful news from me. I was not aware of the particular opinions of the parties in the Bundestag, but were rather going on the noises coming from Merkel et consortes, which have repeatedly been negative on the issue of eurobonds.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Mon Sep 12th, 2011 at 06:43:22 AM EST
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See my original comment, which directly stated the support.

And please remember that many of the media commenters are flagging their own issues, or are representing bondholders.


"Life shrinks or expands in proportion to one's courage." - Ana´s Nin

by Crazy Horse on Mon Sep 12th, 2011 at 07:16:53 AM EST
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