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"According to Affaritaliani.it, Germany has prepared an emergency plan just in case the Eurozone collapses. What's covered in the plan? An exit strategy to go back to the Deutsche Mark:

"Emergency plan to go back to the Deutsche Mark". That's the title of the top secret document - whose existence is officially denied by everyone - and it's said to have landed on the desk of Angela Merkel, the German Chancellor. In Germany the debate about the euro, has always been going on in the background, even though the official line is to deny it completely. It is said that a few parliamentarians of the CSU, the Bavarian party allied to the Christian Democrats, have prepared a strategy document to deal with the eventuality of the implosion of the Euro-zone.

Marine Le Pen's possible victory in France and the referendum being promoted by the 5 Star MoVement, are symptoms of the fragility of the Euro-zone:

For the moment, no decision has been taken, but according to Affaritaliani.it, the Chancellor's office is preparing for what has been defined as an "emergency situation". It seems that the idea is to get the Bundesbank prepared so that it could swing into action with a two month time frame and swiftly print the old Deutsche Marks so they could be ready to take the place of the Euro if needed. In Berlin, the worry is that the long drawn out economic crisis in many EU countries could increase the pressure on national governments to stop respecting the rules of the single currency, as France has already partly done. And in this case, many German politicians are starting to think that it would be better to go back to the Deutsche Mark than to stay with the Euro without precise rules."

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty
by melo (melometa4(at)gmail.com) on Thu Nov 27th, 2014 at 10:55:30 PM EST

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