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Thread: Angela Merkel Just Revealed the Truth About Europe

  1. Default Angela Merkel Just Revealed the Truth About Europe

    For several months now I have been stating that the worlds central banks are in a bind. That bind is that their monetary policies are becoming less and less effective at placating the markets while the consequences of said policies higher costs of living, the targeting of troubled banks in the credit market etc. are increasing.

    As a result of this central banks have begun resorting to more and more verbal intervention or promises to act without ever acting.

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    Two days after Greek Prime Minister Antonis Samaras visited Berlin and made an impassioned plea for politicians there not to talk up the possibility of a Greek euro exit, Merkel herself sent a warning to allies who have said the euro zone would be better off without its weakest link.

    We are in a very decisive phase in combating the euro debt crisis, Merkel told public broadcaster ARD in an interview. My plea is that everyone weigh their words very carefully.
    http://www.reuters.com/article/2012/08/26/us-eurozone-idUSBRE87P0AI20120826

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    For over two years now, we have been hearing time and again that the European crisis was "solved" and that things would improve. It is obvious now that all of those claims were lies. Indeed, we are now at the point that politicians are openly asking central bankers not to discredit attempts to prop up the markets.

    Let me ask you, how desperate do things have to be that a politician asks a central banker not to use certain words during public appearances?

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    Make no mistake, the crisis in Europe is far from over. If anything, we are fast approaching the REAL storm over there: when countries actually start defaulting and leaving the Euro.

    When this happens, we will see the return of systemic risk. And the US will not prove immune to it. Europe is the single largest economy in the world. It is also Chinas single largest trade partner. If the EU goes down, it will send ripple effects around the globe. And with China entering a hard landing and the US re-entering a recession the potential for another 2008 type event is higher than at any point in the last three years.

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