Eurozone countries prepare to manufacture cash from thin air.

The fact that even the German IFO index (report here) is now on such a declining trend pay help to explain this other startling report from EurActiv, linked here:

The spokeswoman said that the ESM would have the same tools as the EFSF.

She also said that German liability remained capped at €190 billion and added that when work had been completed at an EU level, the result would be presented to the German Bundestag, the lower house of parliament, for approval.

The figure of €2 trillion was, however, incomprehensible, she said.