Wednesday, August 31, 2011

Jörg Asmussen, Deputy German Finance Minister, NO to any Euro withdrawal!

Concluding an interview with CNBC aired this morning, as the German Cabinet was meeting to agree the second Greek Bailout terms as agreed on 21st July, (and laboured over by EU officials throughout August according to the broadcaster,) the Deputy Finance Minister of the EU's controlling power, replied unequivocally, and in one word - NO, in response to a question as to whether any country would be allowed to leave the common currency,(I think the word "ever" was included but cannot be certain).

The only report I can so far find online on the interview is from Bloomberg, linked here. There is no mention of the concluding exchange.

Meantime CNBC is now broadcasting reports from Germany, that the woefully inadequate EFSF amendment package, allowing the second Greek bailout has been approved by the German Cabinet. The decisions of the German Constitutional Court and the Bundestag still hang over the eventual outcome!

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