Lipstick on PIIGS: 'Germans fed up with Eurobondage'

European Commission president Jose Manuel Barroso and German Chancellor Angela Merkel look set for a bust up. The unelected Brussels bureaucrat wants to issue bonds to pull his single currency project out of the debt hole it's in. Barroso has also warned the euro could collapse unless governments are more economically integrated. But Merkel absolutely opposes the proposal of collective borrowing - saying Eurobonds are the last thing anyone needs right now. Patrick Young, Executive Director of the investment advisory firm DV Advisors says that Germany is just fed up of paying for other countries mistakes.

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Category:

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• Patrick Young
• euro
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• crisis
• eurobonds
• markets
• finance
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• Angela Merkel
• Barroso
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[godseyeview]

everyone is always borrowing . borrowing this borrowing that . we need to borrow for the economy! what ever happened to saving money to pay for what you earned?

[waterchildtera]

pay no one else debt !

time for the bankers to dissolve this debt !

just erase it !

did it ever really exist ?

they played and created this crisis

we are not to balance it out

[xaviqaz]

@AustrianAtheist This crisis is psychological. In Europe we have much lower budget deficits than UK and USA. This is orchestrated in order to make Europe get in the anglo-style inflationary way (reckless money printing) to make banksters and international speculators richer.

[RestauranteChines]

@TheHybridSlinky The banksters destroy as much as the people who ask for their credit. Banks were created so the exploration of the earth territory could be fufilled. Right now, people need money to buy houses and cars and without creadit all collapses because this economy is a credit dependent adict. If banks stop existing what do you think will happen to big coorporations who carry thousands of employees? It's not the banks to blame! It's the system!

[TheHybridSlinky]

@LIFEWITHEUGENE More comedy please! Germany has TRILLIONS of dollars of derivatives on their banks books! Unless the German people are ready to revolt........guess who WILL face austerity measures! The German, French, British & Dutch banks have been extremely irresponsible and have little or no TIER I capital!

For example Deutsche Bank has only 1.92% in TIER I capital! Essentially they are insolvent!

BTW how did the German bond auctions fare last week! Yikes!

One word.....FAIL!

[TheHybridSlinky]

@RestauranteChines That is EXACTLY what is needed! The banksters must be put out of business! The banksters destroy wealth......produce nothing......and continue to shuffle paper that doesn't exist!

There NEEDS to be a run on the banks to clean out the excess! Here in Canada your savings are insured by the CDIC up to $100,000 CAD. I would also love to see the Canadian banksters wiped out as well. FWIW I use a local credit union!

Bankster larceny, theft, predatory lending must be stopped!

[DforDIckhead2100]

the RT/kremlin whores sure do wear lots of lipstick.

Doesn't help them look any better though.

[waldentree]

hopeless interview

[altgeldrarities]

Bye Bye EURO.

[AustrianAtheist]

So ridicolous. States can expropriate its citizens and print money...these bonds are saver than the ratings. this panic is orchestrated via the media. If such campaigns were launched against private bonds, they would also crush. People have to chill and not shit their pants. Many want Europe to fail, but we won't