From the article:
‘Mr Schäuble has now been forced to give a categorical assurance that the EFSF will not be expanded. He cannot break his word without very serious consequences, or before the financial crisis turns deadly.’
As for the assurances of Mr Schäuble, either he really is lying, in which case there will be all Hell to pay in the Bundestag, and most likely a massive political backlash that will change German politics profoundly.
Or he is not lying, in which case there is no plan to save the eurozone, and we therefore face the mounting risk of a spiral into a banking crash, serial sovereign defaults, and a disorderly break-up of EMU.
I bet Mr. Schäuble lied (again), but here is why the plan to save the eurozone is doomed to fail:
- The Multi-Trillion Euro Bailout Plan Has Already FAILED
Wolfgang Schäuble’s lies exposed:
In December 2009 Schäuble said that the Germans cannot pay for the problems of Greece.
In April 2010 he said that Greece may not need a bailout.
In May 2010 he promised his people the € 110 Billion bailout to be a one-time grant and the absolute upper limit of payments.
In May 2011 he agreed to the € 750 Billion bailout package.
In June 2011 Greece got another € 100 Billion bailout, again with approval from Mr. Schäuble.
Finance minister Wolfgang Schäuble is not only a LIAR, but a TRAITOR unto his people.
The elite puppet governments in Europe and in the US do exactly what they are told by their masters.
This is the greatest looting of the people in world history orchestrated by the elitists.
Europe is already burning (and so is the US).
Prepare for currency reform(s) and the greatest financial collapse in world history.
This is the ‘Greatest Depression’.
Got physical gold and silver (…and food and water supplies)?
The Dangerous Subversion Of Germany’s Democracy
The Bundestag and the German people are being undermined
- The dangerous subversion of Germany’s democracy (Telegraph, Sep. 29, 2011):
Optimism over Europe’s “grand plan” to shore up EMU was widely said to be the cause of yesterday’s torrid rally on global markets, lifting the CAC, DAX, Dow, crude and copper altogether.
This is interesting, since Germany’s finance minister Wolfgang Schäuble has given an iron-clad assurance to the Bundestag that no such plan exists and that Germany will not support any attempt to “leverage” the EU’s €440bn bail-out plan to €2 trillion, or any other sum.
“I don’t understand how anyone in the European Commission can have such a stupid idea. The result would be to endanger the AAA sovereign debt ratings of other member states. It makes no sense.”
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Tags: Bonds, Debt, ECB, Economy, EFSF, EU, Europe, Germany, Global News, Government, Law, Politics, Wolfgang Schäuble