Schizophrenic Euro Routing
Courtesy of Vincent Fernando at Clusterstock
Germany made it clear that there’s ‘no alternative’ to a bailout, yet the euro isn’t happy. Despite rallying on previous bailout expectations, it now appears that euro investors have little confidence in German assurances of a bailout.
WSJ: Germany is considering a plan with its European Union partners to offer Greece and other troubled euro-zone members loan guarantees in an effort to calm fears of a government default and prevent a widening of the credit woes, people familiar with the matter said.
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Germany is considering a plan with its European Union partners to offer Greece and other troubled euro-zone members loan guarantees in an effort to calm fears of a government default and prevent a widening of the credit woes, people familiar with the matter said.
The plan would be undertaken within the EU framework but led by Germany, one of the people said. German Finance Minister Wolfgang Schäuble… told officials in Berlin on Monday that he had concluded there "was no alternative" to a rescue plan, according to a person familiar with his comments.
