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Debt-Ridden EU Prepares Revolt against Germany Print E-mail
by Tom McGregor    Thu, Jun 21, 2012, 07:27 PM
Apparently, debt-ridden nations of the European Union don’t support the saying, “don’t strike a gift horse in the mouth.” Feeling emboldened by the Socialists sweeping into power in France, the EU is hinting at a major revolt against Germany.

Perhaps, they believe that President Barack Obama will get re-elected to the White House, so they anticipate American taxpayers can rescue them instead.

Reuters reports that, “as financial markets slide towards disaster, scarcely pausing to celebrate the ‘success’ of the Greek election or the deal to recapitalize Spanish banks, the euro project is finally revealing its fatal flaw. One country poses an existential threat to Europe – and it is not Greece, Italy or Spain. Every serious proposal to resolve the euro crisis since 2009 – haircuts for bank-holders, more realistic fiscal consolidation targets, jointly guaranteed eurobonds, a pan-European bailout fund, quantitative easing by the European Central Bank – has been vetoed by Germany, and this pattern looks likely to repeat next week.”

Reuters, a London-based news agency, called Germany “the greatest threat to Europe,” and even reminded its readers about the history of World War I. and World War II. Some media insiders allege that Reuters earns much of its revenues, not from media advertising deals, but from its investment banking business deals in London, not Berlin.

To read the entire article from Reuters, link here:

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