Thursday, May 20, 2010

Germany and the Euro

Former German central bank head Karl Otto Pöhl is quite critical of the of the rescue plan, in a Spiegel Online interview. Excerpt:

“It was about protecting German banks, but especially the French banks, from debt write offs. On the day that the rescue package was agreed on, shares of French banks rose by up to 24 percent. Looking at that, you can see what this was really about -- namely, rescuing the banks and the rich Greeks.”

The battle to determine which country is exiting first is going on.

Read the article here .

For an analysis in French, see my paper in Le Figaro, downloadable from my homepage.

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