Germany’s EU dilemma stems from the unwelcome fact that the chronic debt problem of the so-called ‘periphery’ nations, occurred before the EU has secured full sovereignty over its member states.
The anti-dumping case has emerged as a test of whether the EU can maintain a unified trade policy.
Interview with Michalis Attalides.
A multitude of evils can hide behind the ideological veil of top-down European integration.
I suspect the reason for repatriating the gold has more to do with a shift in German politics than any sudden questions about the faith and credit of a central bank, or any desire to re-monetize gold in Germany.
The repatriation of even a part of Germany’s central bank gold holdings should be regarded with concern.
The concern today, especially for Washington, is to keep the European utopia alive for as long as possible.
Steinbrück made clear that he is not running to form a grand coalition but to oust Chancellor Merkel and her conservative-liberal government.
In the past, the German Constitutional Court has not shown itself to be a political pushover.
EMU Q2 GDP contracted by 0.2% qoq. France avoided a fall in output and Germany grew at a solid pace, but Italy and Spain are still in the doldrums.
It is highly likely that the Germans’ resolve against money printing will dissolve in the face of panic.
Last week’s agreement should not be seen as anything less than a victory for the printing press.