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Merkel: Europe faces historic test in euro crisis

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posted on May, 19 2010 @ 08:47 AM
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Merkel: Europe faces historic test in euro crisis


www.google.com

BERLIN — Chancellor Angela Merkel is telling German lawmakers that Europe faces an "existential" test as it works to shore up the euro.

Merkel said Wednesday as she addressed the lower house of parliament that the shared currency is in danger and that failing to meet the challenge would have incalculable consequences.

(visit the link for the full news article)




posted on May, 19 2010 @ 08:47 AM
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She said: "it is about no more and no less than the preservation of the European idea. That is our historic task; if the euro fails, then Europe fails."


These are pretty strong words and it shows how severe the situation actually is.

This comes at the same time Germany made a solo move by prohibiting naked short selling in order to curb speculation, which is the reason of the Euro's depreciation. (no, it's not Greece - the Greek economy only accounts for 2 percent of the entire Eurozone economy).

As a consequence of ever-increasing globalization:


German shorting ban triggers global share sell-off, but euro rallies on intervention talk

World stock markets tumbled as investors digested Germany's unilateral ban on short-selling but the euro rallied from fresh four-year lows on talk of ECB intervention.

source






www.google.com
(visit the link for the full news article)



posted on May, 19 2010 @ 11:13 AM
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reply to post by Mdv2
 


She blows stuff way out of proportion.
And by banning naked short selling, and moving smaller economies with high debts, further into trouble, their next move will be to beg for an european monetary fund (like the IMF, just on a European scale) thus centralising european monetary issues once and for all, and having a new mean of profitiering



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