Great day in the news, today.
Gustav Horn, Dusseldorf, said of the process, "The process...leaves Europe hostage to smaller members."
How long have I been saying the process is the problem?
Chancelor Merkel is facing criticism for her opposition to Economic Stimulus. Have the EuroCrats had success with Greece? No. Have they tried Economic Stimulus? Apparently not.
Chancelor Merkel is criticised by Peer Steinbruck for "lack of confidence." The tempestuous behaviour in the German Parliament indicates that there is this "lack of consensus" I've been blogging about. Not the lack of consensus, but consensus itself.
"Anyone who goes around with consensus on his lips, should be boiled in his own pudding." --Slim Fairview
The EuroCrats don't need consensus. The EuroCrats need acknowledgement! Change the process.
Carmen Reinhart said, on the bailout, "The bailout buys tranquility...it does not restore growth." That sounds very similar to what I've been saying. I do take exception to one thing he said. The bailout does not buy tranquility. Full Stop!
The best, I saved for last.
Holger Schmieding, Berenberg Bank, London:
"Strict Austerity Worsens Economic Downturns."
"A stagnant economy makes it harder for Governments to pay down debt."
"Read my stuff today or hear it from experts in a month or two." Slim Fairview
To make reading my monographs on the EuroCrisis and the Greek debt crisis:
Copyright (c) 2011 Slim Fairview