Saturday, December 10, 2011
Reuters: The eurozone's terrible mistake: Ms Merkel agreed that private sector bondholders would not be asked to bear some of the losses in any future sovereign debt restructuring, as she had insisted this year in the case of Greece’s second bail-out. However, future eurozone bonds will still include collective action clauses providing for potential voluntary rescheduling of private debt.
Ms Merkel said it was imperative to show that Europe was a “safe place to invest”
"Europe" is as safe as a concentraiton camp. You are allowed to vote, as long as you vote for the right thing. Europe has its own money, just like old times. It is even working on a low karbon footprint eko-kar.
Here is more euro money. Ms. Merkel has never heard of FREE markets. FREEDOM of choice.