Jurgen Stark har netop forladt ECB, Den tyske højesteret var ikke begejstret for Eurobonds, Philipp Roesler, den tyske økonomiminister, har netop udtalt, at en kontrolleret græsk statsbankerot ikke kan udelukkes, og de seneste tyske meningsmålinger tyder på, at de tyske vælgere ikke er for en redning af Eurolandene (hovedsagligt finansieret af de tyske skatteydere).
"The bottom line is that it looks like a Lehman like event is about to be unleashed on Europe WITHOUT an effective TARP* like structure fully in place"
The fact is that the Germans are NOT going to pay for pan European structure to recap French and Italian banks ...Expect a massive policy response in Europe and a move towards financial market nationlaization that will make the US experience look like a walk in the park.
*( Troubled Asset Relief Program, allows treasury to purchase or insure up to $700 billion of troubled assets.)
