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Euroland - Federation of Retarded Acceleration


Citation from: Andreas Becker, DW in Deutsche Welle "Finance: Please take my money!", 18.07.2012
[Translation Eulenspargel]

«
. . . . . .

"That doesn't sound logical"

. . . . . .
. . . also the yields of bonds of (financially) less robust countries are dropping below zero because so many investors want to store their money in secure havens. Last week it was France, this week the highly-indebted Belgium.
"Currently Germany is not the only country to be offering interest around zero percent", Chris.-Oliver Schickendanz told DW. "Altogether 10 larger industrial nations are responsible for $23 trillion in pending bonds".

Divided Europe

. . . . . .
. . . While Spain, Italy and other Eurozone countries are suffering under growing interest rates, others are having money thrown after them.
It is an anticipated division of the Eurozone, said Andrew Bosomworth of Pimco Germany. "The finance markets are breaking the Eurozone asunder because they think that the Zone is not working", according to Bosomworth, "At some point the politicians must provide an answer to the question of how the Eurozone can be organized sustainably".

Decision pressure

Bosomworth sees only two possibilities. Either the Eurozone schrinks to include economically similar countries like Germany, Austria, the Netherlands or Finland. Or a real Union is created: with a democratically legitimated, common Finance Minister, but also transfer payments from the richer countries to the poorer.
In this sense, the financial markets, so often demonized by politicians, heighten the pressure on the politicians to come to a decision. »



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