BBC News: Reports that even with the resignation of former Prime Minister Silvio Berlusconi, Italian five year bonds reached a Eurozone high at 6.29%. At over 6% for a long term period Italians will not be able to go to the bond market, the cost would be just to much for the Italian taxpayer, thus down the road folks Italy will need a EU/IMF/ECB bailout, but for this happen the Germans have to move on their objection that the ECB should not print money. Modern Germany will have to get over Weimar Germany, there is no threat of another Hitler coming to power in Germany. Thus in this specific case the Germans will have to forget about their past and save the Euro, they wanted it well they will have to pay for it, the Greeks will need another bailout in the future, the Greek people will revolt when they face their tough austerity package, in many respects it is a 4th German Economic Reich, an informal empire, didn’t do the British Empire any harm in its informal period, time for Germans to go beyond their history.
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