Zitat des Tages
What they will disagree about is, whether European institutions and politicians can be trusted to have a banking union. And I myself have serious doubts, as I cannot rid myself of the impression that our politicians have been essentially “bought” by the owners of financial assets and bank debtors. Sure, I may be a little paranoid, but at every step of the way they have moved in favor of banks, their own national banks, not Greece, Ireland, Italy, Spain or Europe. Either they are bought or gullible, neither is very comforting. What is more: they have lied and tricked us too often, since the beginning of the Euro (the accession of Greece is but the tip of the iceberg). Since the beginning of the crisis, taboos after taboos (whether they were economically reasonable to begin with or not is irrelevant) have been trampled on (historical experience teaches us that at the end of the day national politics make European policy, not good Economics, even if the institutions are well intentioned – Germany is as much a culprit as anybody else in this regard). This is a major lack of credibility…
The Lumpy Economist – Der Lumpenökonom: “The New Ökonomenstreit in Germany”