Germany Has Had Enough Of This Euro Mess

Angela Merkel is under pressure to increase bail-out funds for Europe and sanction ‘money-printing’ measures. Photo: Reuters

It Is Now Becoming Clear Germany Has Had Enough Of This Euro Mess -- The Telegraph

The Anglo-Saxon world is feeling smug this weekend. UK and US policymakers are counting their blessings they’re not directly embroiled in the historic debacle that is the single currency.

This euro crisis is obviously very seriously undermining global investor sentiment. The negative impact on growth, both in Britain and the States, is clear. It is axiomatic that the financial chaos stemming from a fully-blown, market-induced “euroquake” would cause deep aftershocks everywhere, not least across the rest of the Western world.

There is palpable relief, though, in London and Washington that attention is now squarely on the eurozone’s woes. That makes life easier for the deeply indebted Anglo-Saxon governments – which is particularly welcome for Chancellor George Osborne, given that he is about to give his Autumn Statement.

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My Comment: If I was a German, I would be appalled at the idea of financing the rest of Europe .... but that is what has been happening for years. Inevitably .... the Euro will collapse for the simple reason that the Germans will soon say no more, and when the elites figure this out .... we can then stomach the pain and make plans to move forward.

Update #1: IMF drawing up £517bn package to save Italy, Spain and the euro -- The Telegraph
Update #2: Britain draws up emergency plans for collapse of Euro after warnings Italy needs £500bn bailout -- Daily Mail