Bundesbank documents reveal insistence on fiscal Fourth Reich…

“Overall, there is a risk that the originally agreed institutional framework of the monetary union will increasingly become eroded… Unless and until a fundamental change of regime occurs involving an extensive surrender of national fiscal sovereignty, it is imperative that the no bail-out rule that is still enshrined in the treaties and the associated disciplining function of the capital markets be strengthened, and not fatally weakened.”

mdi-timer August 22 2011 @ 15:22 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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