At the end of the day, every EU solution/bailout/ intervention hinges on whether or not Germany will write the check. The EBC can promise this and that, but unless Germany’s signature is on the check, all of this is just posturing and verbal intervention.
The Euromoney Country Risk survey results are out for Q3 2013 and here is some analysis with a comment from yours truly. As usual, emphasis is mine:"Some 101 of the 186 countries surveyed have succumbed to lower ECR scores (increased risk) since June, which, with 17 unchanged, leaves just 68 safer, according to the views of global economists and other country-risk experts surveyed during the third quarter."Core global drivers:
WASHINGTON — Senate leaders are optimistic about forging an eleventh-hour bipartisan deal preventing a possible federal default and ending the partial government shutdown after Republican divisions forced GOP leaders to drop efforts to ram their own version through the House.
It would be quite ironic and rather fitting if Germany and France fail to ratify the Merkozy treaty. 25 Nations have ratified the treaty but France and Germany still have not.
French president Francois Hollande has already threatened non-ratification unless the treaty is revised.
The Leader of the Social Democrat Party (SPD)in Germany, Frank-Walter Steinmeier, is making similar threats for the first time.
Authored by Michael Collins, Investment Commentator at Fidelity, Capitalist banking systems are built on the confidence trick that people can get their money back at any time. Of course, if everyone sought their money at once, no one would get anything because the financial system would collapse.
Five years ago yesterday, Lehman Brothers declared bankruptcy, closing the doors on a 158 year-old business. All the while, its CEO, Dick Fuld, seemed incredulous that disaster had fallen on his watch. Perhaps he should not have been.
Germany's "Official Denial"
If you seek confirmation that Germany is actively trying to force Greece out of the Eurozone, strong evidence appears in the form of an "Official Denial"
Please consider Merkel Says Won't Force Greece Out of Euro
German Chancellor Angela Merkel said on Tuesday she did not want to see Greece being forced out of the euro, warning that this would have "unforeseeable consequences."