Europe's leaders must forge a deal this week to help Greece get "back on its
feet", the managing director of the International Monetary Find has said, as
disagreement continued over how to tackle the country's mounting debt pile.
...Speaking of angry Germans, Jens Weidmann, the head of Germany's central bank,
has warned that putting the ECB in charge of eurozone bank supervision risks
compromising its primary goal of price stability. ....Writing in German daily
Handelsblatt, Mr Weidmann warned that forming a "hasty" bank union would be
counterproductive, and that leaders should opt for "thoroughness over speed".
Mr Weidmann also said that a union would require a mechanism to
wind down and restructure banks that should be funded by the lenders
themselves. Are the IMF and the EU institutionally deaf, the
'fat lady' has sung her self hoarse, rolled over and died of old age. Maybe they
have not taken the trouble to keep up with events. The ordinary Greek people on the street know now what ever happens, they will collectively be accountable for many, many decades for the debt put on them by all these bailouts. They should have got out three or four years ago, but have been deliberately sucked into this vacuum and been enslaved by the bankers, and dare i say, their own country men and women who have repeatedly refused to pay their taxes and now have deviously moved their vast fortunes out of the country....When I read " Without the option of currency devaluation", I had to laugh.
France could (and perhaps should) consider leaving the corrupt club and then she COULD devalue her currency which would make her more competitive.... And...what about slashing the IMF ' s salaries by 75% and give it to the Greeks. The IMF'S staff will still have a more than decent living and , for once, they will have put their monies where their mouths are . As a special gesture, the Greeks could have Lagarde too, as she is useless, we would, then, have killed two birds with one stone.
