Will The EU Summit Crush The Euro?

In spite of all the headlines and chatter the real winner in the latest of 19 EU summits was none other than German Chancellor Angela Merkel. First lets take a look at numerous headlines that got the story wrong. Merkel Big Loser

George Soros, the billionaire speculator best known as “the man who broke the Bank of England” in 1992, has launched a stinging critique of Germany’s role in the euro crisis and suggested the single currency’s prospects would be improved if its most dominant member were to quit, reports The Guardian.

Praise from German chancellor Angela Merkel is typically hard to come by. However, Merkel is freely distributing praise these days, to the person least-deserving, herself. As the eurozone marches down the "Road to Shared Liability" Germans are largely unaware of the Hidden Risks of the Euro-Zone Bank Oversight Plan risks that Merkel ignored when agreeing to the eurozone oversight plan last week.

Steen Jakobsen, chief economist of Saxo Bank in Denmark, asks via email: "Is Merkel Misinterpreted? Will the FOMC Move Decisively?"  The misunderstood Chancellor. The market clearly believes Ms. Merkel will, ultimately, not withstand the pressure - and she will end up collateralizing rising debt. I remain extremely skeptical. I even dusted off my school German to read Der Spiegel and Focus, two major German weeklies, which give you a very different perspective.

  German Chancellor Angela Merkel has walked a tightrope over the last few years of keeping the EU together without infuriating the German populace to the point of having to abandon ship.  

Moment of Recognition It appears a majority of German citizens have finally had enough of chancellor Angela Merkel saying one thing and doing another in regards to bailouts. They have also had enough had enough of Mario Draghi and his policies.

A pair of articles translated from German and Spanish further highlights the pressure on German Chancellor Angela Merkel to not give into to further demands by Spain, Italy, and France. 160 German Economists Denounce Summit Results The San Francisco Gate reports German Economists Denounce Summit Decisions