LONDON (MarketWatch) -- The German Finance Ministry on Friday denied a report in weekly magazine Der Spiegel that it is weighing plans for a coordinated rescue of financially distressed euro-zone countries. "The Spiegel report doesn't correspond with the facts. The Federal Finance Ministry isn't working on any such concepts," said finance ministry spokeswoman Jeanette Schwamberger in Berlin, according to Dow Jones Newswires. The spokeswoman said Germany has "no doubt about the unity of the monetary union," but that rising bond yield spreads within the euro zone warrant "joint action by the European Commission, European Central Bank" and euro-zone finance ministers "to discuss measures with the affected member states to reverse this development."
1) Germany will continue to be known as "Germany". 2) Italy will become known as South Germany. 3) Spain will become known as West Germany. 4) Greece will become known as East Germany. 5) Scandinavia will become known as North Germany. 6) Russia will become known as New Germany.
lol, didn't angela merkel say one day before the German bank bailouts that Germany would never bail out the banks; that was strictly a US problem?