The bailouts have damaged the basis of Europe’s currency union?
Yes, but look who’s talking:
Bundesbank President Axel Weber has dished out €338 billion!!!
– Bankrupting Germany: German Bundesbank Financed ECB and National Central Banks With €338 Billion, ifo-Institute President Prof. Hans-Werner Sinn Stunned
The bankster bailouts bankrupted several countries, that already needed bailouts themselves to survive, other countries will need them later on.
Spain is already too big to bail out. Then the next stage is a currency crisis and a currency reform.
You have just witnessed the biggest bank robbery and the biggest looting of entire nations (incl. the US) in history, perfectly planned by the elitists.
DUESSELDORF, Germany (Dow Jones)–The financial rescues of Greece and Ireland have damaged the foundations of Europe’s currency union, Deutsche Bundesbank President Axel Weber said Monday.
In a speech to an audience of academics and business representatives, Weber said it was essential not to let the deals that have been made to keep financial stability in the euro zone become the norm.
“We have to strengthen the foundations again,” he said. He highlighted the risk that highly indebted countries in the euro zone might try to put pressure on the European Central Bank not to raise interest rates, as this would raise the cost of their debt servicing to unsustainable levels. Weber has indicated he has no desire to be subjected to that kind of pressure and has said he will step down from the Bundesbank at the end of April, instead of allowing himself to be put forward as successor to Jean-Claude Trichet, whose term at the head of the ECB ends in October.
Read moreECB’s Axel Weber: Bailouts Have Damaged Basis Of Euro Zone