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They will not be able to save the euro against Germany.

Fascinating... Logically, if "Germany" doesn't want the Euro any more, it should leave, rather than destroy it.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Fri Sep 7th, 2012 at 05:25:26 AM EST
[ Parent ]
Marc Beise, writing in Suddeutsche Zeitung, defends the Bundesbank. He said the truly bad aspects of Draghi's decision was that the ECB left no doubt that it wants the euro to survive (Yes, we, too, had to read that sentence twice.)
Does Marc Beise really expect the ECB council to vote for its own dissolution?

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Fri Sep 7th, 2012 at 05:47:56 AM EST
[ Parent ]
Marc Beise is a nimcompop.

the treaties assume a permanent euro and Draghi is obligated to operate on the basis of the treaties. Otherwise he is violating his duties in a way he could be impeached.

by IM on Fri Sep 7th, 2012 at 05:57:17 AM EST
[ Parent ]
Beise has just learned that "independence of the central bank" means they can take decisions he disapproves of. That hurts of course. Poor thing.
by Katrin on Fri Sep 7th, 2012 at 06:55:39 AM EST
[ Parent ]


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