Tuesday, 19 April 2011

Why wait until 2013 to default ?


Link

Germany’s power is a threat to the Eurozone

The First Post thinks similar to CU's Beam me up Scotty post a few days back. Why don't the weakest indebted nations, Portugal, Ireland, Greece utilise their power?

6 comments:

Anglia Murky said...

Dumbkopf! Ve haf vays...

Blue Eyes said...

Same thing has occurred to me. Who has more to lose, the PIIGS or the Germans?? Quite obviously the Germans! Either they lower the bailout interest rate or they destroy their own currency.

Barnacle Bill said...

The big one will be when the US defaults, which might just be by the 2013 deadline!

Steven_L said...

GBP:EUR at the bottom of its long term trend too!

Bounced nicely after Greece and the GE in May 2010.

Budgie said...

Germany, via the EU, is carefully engineering the crises in Greece, Eire, etc so that it can install its own men in the target country's finance ministry as a condition of the loans.

The Germans know the real power is money, their chief minister is not the Chancellor for nothing.

Anonymous said...

Even if those countries were to default on their government debt, it would not solve their nation's structural deficits which were compensated by their currency devaluing versus the DM. I think you'll find that this is the real problem for the euro.