Frau Merkel gone wild

[marmar]

Wreckless German Austerity Push Shows No Signs of Letting Up


So here’s WaPo’s Anthony Faiola on where the Europeans are in dealing with their, which may soon be our, financial crisis:

The leaders of Germany, France, Italy and Spain were gathering in Rome Friday for crucial talks aimed at reaching a compromise on short- and long-term fixes for the region’s worsening financial crisis, ahead of a European Union summit in Brussels next week.

The meeting came as the fallout of Europe’s crisis was spreading beyond the borders of the 17-nation euro zone, with the Moody’s rating agency downgrading 15 global banks including Bank of America and Citigroup, as well as four of Britain’s largest financial institutions, citing worries about their exposure to now-volatile world markets…

The Rome talks were hinging on the ability of a trio of leaders — French President Francois Hollande, Italian Prime Minister Mario Monti and Spanish Prime Minister Mariano Rajoy — to convince the reluctant German Chancellor Angela Merkel to take a more aggressive stance in fighting the crisis.

So what’s Merkel up to? Ezra Klein suggests a very scary possibility today: The Germans and their northern European allies (no longer including France) are not really interested in helping Greece meet its obligations, despite all the happy talk about what would happen if the “right” people won the recent elections ........................(more)

The complete piece is at: http://www.alternet.org/newsandviews/article/989820/wreckless_german_austerity_push_shows_no_signs_of_letting_up/

[Odin2005]

1. The EU is the German Empire without the Kaiser.

[n2doc]

2. Germany will suffer too

And Merkel will be out in the next election.

[CTyankee]

3. why isn't anybody in any position of power listening to Paul Krugman?

what is the matter with everybody? He's right. He's always right. Always has been right and always will be right.