France and Germany to make joint proposal to modify EU treaty Agreed with Monti and Merkel to not make demands on the ECB Monti will be associated with the EU treaty proposals Why not bomb markets -35 % into oblivion, maybe then "Mutti" Merkel will understand her lesson?
politicians are paid to do blah blah blah and to steal money in a professional way. the society is very happy to pay them 100s of billions to do exactly this. it was always the case since millennia. so what is your problem?
why do you think -35% is somehow relevant to overall well being? Dax was already down -35% from its highs earlier this year and life still going on and I assure you despite what you were said in 2008 any kind of financial collapse won't make life significantly worse than it's now
If the Euro collapses, life will get measurably poorer for Germany, the main exporting country of Europe, as their customers all go back their own currencies, devalue themselves out of their economic problems, and start selling their own goods at prices Germans would never be able to match (unless of course they add in their tariffs, which they will surely do to protect themselves). Germany is scared stiff of losing their captive customer base. They will do whatever it takes to defend the Euro.
The Germans know deep down in their heart they'd do better if they were to exit the EUR zone asap (aka bail-out zone) but they lack the balls to follow through.
Susi's problem is that he's been shilling his ass off on here for months to try and make everything "go away" so he can get his perma-bullish bets to pay off.
Yeah when credit markets are dead, and banks and financial system wiped out, it has no effect on the economy. I'm sure countries and companies don't need to borrow money to function on a daily basis, and that without access to credit these companies won't start firing and increasing unemployment exponentially until the economy is stuck in a vicious downward spiral of deflationary depression.