2012-05-29telegraph.co.uk

The country's collapse is the mathematically certain - and widely predicted - result of ferocious monetary and fiscal contraction on an economy struggling to deal with a housing bust.

...

Indeed, the ECB even let the broader M3 money supply contract for the whole eurozone late last year, badly breaching its own 4.5pc growth target.

...

There is, of course, a hint of revolution in Europe's air. A Latin Bloc has come to life. Germany is on the back foot. Yet are the rebels willing to use majority control over the ECB to force an immediate and transforming shift in policy, against German protest? Will they risk a German withdrawal from monetary union?



Comments: Be the first to add a comment

add a comment | go to forum thread