Tuesday, December 13, 2011

Commerzbank denies rumours but cancels Christmas parties!

"EU needs another shock" said the on screen ticker at the lower edge of the screen on one of the 24 hour TV business stations this morning - "I wonder what that will be,"  I pondered, before reading various reports on the internet concerning the likely failure of one of Germany's largest banks. Now this evening from San Francisco comes this!

Will Germany be shaken from its complacency I wonder, Acting Man, blog yesterday said the following:

From the German point of view, a different motive is in the foreground:  Germany wants to enjoy all the advantages that membership in the euro area brings to it, but it doesn't want to pay for them. It fails to realize that at the heart of the competitiveness problem that has brought the fiscal offenders in the periphery down are the capital malinvestments and price distortions resulting from the credit bubble that was enabled by the fractionally reserved banking cartel directed by the ECB.

The post later went on to attack Von Rompuy and show again Farage's attack on that individual, which sonce it is now so close to hand and I have little more to add today, I will repeat again on this blog, as more readers than ever can now surely see the truth of the forecast!

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