Fleckenstein - Jim Grant is Right, "A Bonfire of the Currencies"

``I do appreciate the fact that Trichet tried to make the paper currency a real currency, but the problem was nobody abided by the initial rules and then they bailed out Greece....The only way to have precluded that was to have made people adhere to the growth and stability pact that they started out with and make sure they weren't cooking the books, which obviously Greece was. One way or another I think that the euro is going to not have Germany in it at some point in the not too distant future. Germany cannot save all of Europe and I don't think the rest of them can cut back enough."''