Credit and Power
Germany and the European Central Bank: Monetary Stability über alles
By Anna Blume and Nick Sinakusch
Europe’s elite is divided. The increased purchase of the state bonds of the euro countries by the European Central Bank (ECB) could stop the crisis, claims the Dutch economist Paul de Grauwe. DZ Bank even sees in such purchases “the sole possibility of breaking the vicious cycle”. The German government, on the other hand, is struggling with all its might against the purchase of state bonds by the ECB. What appears to be a conflict between finance experts is rather a struggle for power in Europe and concerning the status of the euro as a world currency. The material is complicated, so we’ll deal with things one at a time. First, what’s the underlying problem?
Full article: http://communism.blogsport.eu/2012/01/22/credit-and-power-germany-and-the-ecb-monetary-stability-uber-alles/