Ex-ECB Head Unveils Bold Plan To Save The Euro

[Meetzos]

What 's a better way than austerity being forced on a country? Let's just take over their financial duties of it's goverment.


http://www.wallstreetandtech.com/reg...ance/240000634

Ex-ECB Head Unveils Bold Plan To Save The Euro

Europe could strengthen its monetary union by giving European politicians the power to declare a sovereign state bankrupt and take over its fiscal policy, the former head of the European Central Bank said on Thursday in unveiling a bold proposal to salvage the euro.

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The plan offered by Jean-Claude Trichet, who stepped down last November as ECB president,
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[southfork]

That dog just wont bark, the Greeks want to have their gyros and eat them too.

[EO 11110]

andy gause says they are headed for eurobonds. that is the goal with all of this drama....he's claimed this from the start

note that france new guy just came out pushing this

how can we make some jingle betting on it to happen?

[Meetzos]

how can we make some jingle betting on it to happen?

Buy pm's and hold tight, nobody is going to allow their country to be run by a bunch of foreigners. It'd be like the PM of Canada saying they would take over the budget commitees of the US because they don't have a clue to what they are doing. Not that it wouldn't be true. It just wouldn't set right with the free loaders on the dole.

[EO 11110]

http://www.zerohedge.com/contributed...anging-germany

French President François Hollande and President Obama, now best buddies, had their first meeting even before Camp David, and their target was German Chancellor Angela Merkel. Obama had been pushing long and hard for a gigantic debt-funded spending package in Europe.

He wanted all the money spigots opened all the way everywhere to give the US economy a short-term boost so that he might survive what shapes up to be a tough reelection campaign, made even tougher by a tottering US economy.

A big burst of government spending in Europe, regardless of costs in the future, would briefly filter into the US economy—and thus into the ballot box. “If a company is forced to cut back in Paris or Madrid, that might mean less business for workers in Pittsburgh or Milwaukee,” Obama said after the meeting, fearing that those workers might then not vote for him.

Hollande brought his own agenda. He demanded the introduction of Eurobonds and came out swinging against the nomination of German Finance Minister Wolfgang Schäuble to the post of Euro Group President.

Back home, his Prime Minister Jean-Marc Ayrault demanded that the ECB fund debt sinner countries, such as Greece, directly to monetize their deficits without the awkward detour via the capital markets. It was a three-pronged approach on their war path against Germany; and Hollande tried to rope in Obama as an ally, after having already roped in Italian Prime Minister Mario Monti and others.