Ok this is 2 jahre alter hot shit, und zwar ein Wikileak in Bezug auf die deutsche Haltung zur Eurokrise
http://wikileaks.org/cable/2010/02/10BERLIN181.html#
http://wikileaks.org/cable/2010/02/10BERLIN181.html#
A EUROZONE CHAPTER 11
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¶9. (C) DB Chief Economist Thomas Mayer told Ambassador Murphy
he was pessimistic Greece would take the difficult steps
needed to put its house in order. A worst case scenario,
says Mayer, could be that Germany pulls out of the Eurozone
altogether in 20 years time. In 1990, Germany's
Constitutional Court ruled that the country could withdraw
from the Euro if: 1) the currency union became an
"inflationary zone," or 2) the German taxpayer became the
Eurozone's "de facto bailout provider." Mayer proposes a
"Chapter 11 for Eurozone countries," which would place
troubled members under economic supervision until they put
their house in order. Unfortunately, there is no serious
discussion of this underway, he lamented.
COMMENT
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¶10. (C) Chancellor Merkel is clearly relieved she does not,
for now, have to explain to the public why the German
government is running up its own deficit to bail out
debt-laden Greece.
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¶9. (C) DB Chief Economist Thomas Mayer told Ambassador Murphy
he was pessimistic Greece would take the difficult steps
needed to put its house in order. A worst case scenario,
says Mayer, could be that Germany pulls out of the Eurozone
altogether in 20 years time. In 1990, Germany's
Constitutional Court ruled that the country could withdraw
from the Euro if: 1) the currency union became an
"inflationary zone," or 2) the German taxpayer became the
Eurozone's "de facto bailout provider." Mayer proposes a
"Chapter 11 for Eurozone countries," which would place
troubled members under economic supervision until they put
their house in order. Unfortunately, there is no serious
discussion of this underway, he lamented.
COMMENT
-------
¶10. (C) Chancellor Merkel is clearly relieved she does not,
for now, have to explain to the public why the German
government is running up its own deficit to bail out
debt-laden Greece.
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