Chancellor Merkel: Why use German taxpayer money to bail out a French bank competing with a German bank?
Here is the metaphor.
Imagine Germany as the lead man climbing a cliff.
France is the number two guy.
France is being pulled down by number three.
France asks Germany for help.
Germany won't help because France might get to the top first.
France falls and pulls Germany down with her.
Is Merkel the problem?
Some things work and some things don't work.
"Austerity impedes the growth necessary to expand the economy beyond the debt load" -- Slim Fairview
"Expansion can come only from the growth arising from economic stimulus." --Slim Fairview
"Everybody knows what everybody knows." --Slim Fairview
Perhaps more people in the EuroZone should be scanning my blog.
PS Sometimes it is tempting for the strong to cut off the weak member. Other times it may be better for the weak to cut off the strong member.
Copyright (c) 2011 Slim Fairview