Germany, re-entering recession, suffered a 0.29% interest hike last week!

The closing paragraphs from a Los Angeles Times report on last week's European financial markets, linked here, reported the following:

But in a bad sign for Merkel, yields also rose further Friday on German bonds, which until this week had been the one haven left in European debt markets. The 10-year German bond yield ended at 2.26%, up from 2.19% on Thursday and 1.97% a week ago.

European stock markets mostly managed to rebound a bit on Friday after steep losses in recent days. But the euro currency was hammered, falling 0.9% to $1.323. The euro has tumbled from $1.353 a week ago and $1.419 on Oct. 27.

Normally, no nation, faced with declining business confidence and facing many signs of slowing economic activity, would consider hiking interest rates by more than a quarter point.

The Euro is now in such a deep hole that continued rises of the costs of borrowing are inevitable for Germany, its withdrawal from the Euro currency is therefore an early essential. Only thus can the true costs of this disastrous €uro experiment be properly attributed, accounted for and thereby eventually recovered from.