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Thread: EU rescue costs start to threaten Germany itself

  1. #1
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    Caution EU rescue costs start to threaten Germany itself

    Credit default swaps (CDS) measuring risk on German, French and Dutch bonds have surged over recent days, rising significantly above the levels of non-EMU states in Scandinavia.

    "Germany cannot keep paying for bail-outs without going bankrupt itself," said Professor Wilhelm Hankel, of Frankfurt University. "This is frightening people. You cannot find a bank safe deposit box in Germany because every single one has already been taken and stuffed with gold and silver. It is like an underground Switzerland within our borders. People have terrible memories of 1948 and 1923 when they lost their savings."
    EU rescue costs start to threaten Germany itself - Telegraph
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    Re: EU rescue costs start to threaten Germany itself

    Well, that's Economic and Monetary Union within the framework of a psuedo-state for you.

    At 'best' your nation is a bird in a 'golden' cage and at worst you're doubly poor because you have to pay everyone else's bills on top of your own.

    And we were warned, for 40 long years.
    How does it feel public?!

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