EXTRACT: Yet, insofar as these putative ‘rescue plans’ have any reality, it is based on a fundamental contradiction or flaw. Everyone is calling on Germany to do something, but just imagine if Merkel did decide to do what many want - acceding to the creation of Eurobonds. Interests rates would then be equalised and Germany would suddenly find itself paying rates in the region of 3%-4%, as opposed to the minuscule rates it is paying now - ie, the yields on two-year German bonds recently sank to -0.012%. It would only be a matter of time before Germany started to suffer from rising unemployment, stagnation and so on - no more the European economic powerhouse.
Under those conditions, what would happen to the US and the flat-lining British economy?
Under those conditions, what would happen to the US and the flat-lining British economy?
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