Saturday, September 10, 2011

European Central Bank and the Euro

Daily Mail: Reports on the unexpected resignation of Jurgen Stark from the board of the European Central Bank, the resignation it is believed is due to policy of the ECB to keep the PIIGS from defaulting. At some point either a brave European politician or a Country will pull the plug on the Euro, there comes a point when it starts to feel like economic madness, the Euro will only work if the Germans approve a Euro bond, in other words the Germans will have to bailout out the poor Countries of the Euro, we are talking trillions here folks, that includes Italy and Spain. Either the Germans agree or the EU has to cut bait when it comes to the Euro, throw out Greece, Ireland, Portugal, even Italy, then support the rest of the Eurozone countries, but also make sure that expelled Countries are supported for the long term. This crisis will only end badly folks, its to late for a real solution.

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