From Mike Krieger of KAM LP via ZeroHedge
...increasingly likely, outcome.
That is namely that the ECB continues to transfer wealth from the prudent and fiscally more sound nations (mainly Germany) to the periphery until the populace of Germany snaps. I think that moment is very, very close at hand. Once that tipping point is reached there will be no turning back. The popular anger at the ECB and Euro will be so profound and so long festering that it will overwhelm all attempts to keep things together. Germany could leave the Euro. Or it could make it so difficult for the PIIGS that they are forced to leave. Either way, Germany is EVERYTHING. Nothing else in Europe matters right now besides the sentiment on the German street and it has become pretty clear lately which way that is going. I am 100% convinced that Germany will play nice until that crucial moment is reached where it really is put up or shut up (we are close). At that point, I have no doubt that Germany will do what is best for Germany.
full
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η παλαιά ψυχροπολεμική λογική λέει ότι ο τοπικός επιτηρητής θα υπακούσει σε ότι πει ο παγκόσμιος αλλά με τους Γερμανούς και τη δική τους λογική κανείς δεν μπορεί να ξέρει
υ.γ. αυτές τις μέρες (sic) συμπλέω με το "it could make it so difficult for the PIIGS that they are forced to leave", βασικά για εμάς
...increasingly likely, outcome.
That is namely that the ECB continues to transfer wealth from the prudent and fiscally more sound nations (mainly Germany) to the periphery until the populace of Germany snaps. I think that moment is very, very close at hand. Once that tipping point is reached there will be no turning back. The popular anger at the ECB and Euro will be so profound and so long festering that it will overwhelm all attempts to keep things together. Germany could leave the Euro. Or it could make it so difficult for the PIIGS that they are forced to leave. Either way, Germany is EVERYTHING. Nothing else in Europe matters right now besides the sentiment on the German street and it has become pretty clear lately which way that is going. I am 100% convinced that Germany will play nice until that crucial moment is reached where it really is put up or shut up (we are close). At that point, I have no doubt that Germany will do what is best for Germany.
full
_______________________________________
η παλαιά ψυχροπολεμική λογική λέει ότι ο τοπικός επιτηρητής θα υπακούσει σε ότι πει ο παγκόσμιος αλλά με τους Γερμανούς και τη δική τους λογική κανείς δεν μπορεί να ξέρει
υ.γ. αυτές τις μέρες (sic) συμπλέω με το "it could make it so difficult for the PIIGS that they are forced to leave", βασικά για εμάς
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