Berlin I can only congratulate you for this insight. While it is not for me to understand now what causes the delay in turning to the Federal Chancellor Angela Merkel, but the mindset behind this sensational titling is understandable. Merkel said urgently requires a procedure, to enter into the framework of highly indebted countries in the euro area in bankruptcy. This would mean, ultimately, that write off the debt, led by likely international banks, their claims must.
As I have mentioned several times in my blog, so I think it is essential that banks or even countries can go in an orderly bankruptcy. It makes neither economic nor from the perspective of efficient market sense when creditors met to 100% and the debt to be circulated to the taxpayer. If something has demonstrated the financial crisis, "Too big to fail" is one of the great mistakes of the past decades in economics and one that we should veraltete Konzept endlich über Bord werfen.
Der Zeichner von riskanten Anleihen bekommt dadurch eine risikofreie Prämie, schließlich hat er Zinsen für das eigegangene Risiko als auch 100% Kapitalrückführung am Ende erhalten. Einige wenige profitieren überdurchschnittlich und viele zahlen drauf. Dies erinnert mich frappant an ein staatlich gefördertes Ponzi Schema, und dies wird von den meisten europäischen Politikern nun auch noch gefördert.
Daher freut es mich, dass sich Frau Angela Merkel für to correct this absurdity to Europe committed level. Only had more politicians that vision!
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