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| Climbing the Walls over the Euro crisis; Bond markets take fright, Picture: Dusseldorf 2011 |
A chilly Wind passed through Berlin today Wednesday 23rd Nov 2011. It is clear the gust front has arrived with the financial thunderstorm close on its heels.
Bonds
market shunned Berlin debt. Berlin shunned Brussels eurobonds.
Traders took Flight. It may be planned that eurobonds will eventually
come into place but the Saxon Queen is correct to say first things
first.
Commitment
to Art of Superstate part 1V is a condition she needs before issuing
such guarantees to cover the debt of weaker economies.
Continuing
to cultivate a technocratic United States of Europe is a flawed plan.
Unity is no longer with us.
Brussels
needs to accept there is more than one way to skin a goat. Without a
safe and stable democratic core with Germania Magna at the helm
Europe will implode and crumble
under the weight of recession and citizens concern for the future.
Bond
markets gamble on the future. Real leaders don't have that choice.
The Chancellor will get her core group of Euroins and only
after such a bold step, will Brussels get its eurobonds.
The
big question is whether the Chancellor will wait for the storm to
engulf Europe and the World in the hope citizens will run to her core
for shelter or hold a democratic referendum early next year. It would
be wiser to get permission before making big moves. Something
Brussels should have thought more about in the years between
Maastricht and Lisbon.
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