http://www.zerohedge.com/news/wikileaks-exposes-german-preparations-eurozone-chapter-11 Sorry, going to have to pull a Midnight Funeral as technically it is still Secret and I would be posting Secret Information which could cost me my clearance. So you're gonna have to go to the link.
I do find it highly amusing that those countries who pushed the most for the Eurozone and treaties such as Maastricht and Lisdon are now planning quick exits in case it all goes tits up. This is the problem with a lot of comntinental intellectualism. Europeans with grand ideas who don't realise that there is still a practical element to the world. Europe is not ready for the level of (undemocratic) integration that presently exists. It should have been patient and kept itself as a trade based and free movement union for at least a few decades before even thinking about passing certain powers to Brussels or a single currency. Now we pay the price as the architects plan their escape.
Yeah, but you're kind of applying 20/20 hindsight. At the time of the EU formation, life was good, we were all fat and happy, and the dough was rolling in. No one predicted the economy would go south.
So the worst case scenario is a German pull out in 2030? That's the WORST case? And it adds there's no conversations about it happening now? OK. Guess the long term markets have to care about that. But I don't.
I don't believe in the 20 years thing. I believe if they started the process it would happen fast. Too fast for them to get a handle on.
That Germany is completely paranoid about even mild inflation and has contingency plans to pull out of the euro if other countries on the euro start seriously protesting German monetary policy, demanding policies that don't result in deflation in the non German countries on the euro, and getting pissed off about having the German boot on their throats is news on the order of the sky being blue.
Today, the Deutsche Finanzagentur announced that the mean interest on German bonds has dropped from 0.3% last month to 0.08% this month. That's the lowest interest rate in history for this segment. Seems like a bad moment to drop out, doesn't it?
The German finance minister, in a radio interview (or maybe television, but my wife heard it on radio) was asked several weeks ago if they had a backup plan in case their attempts to save the euro didn't work and he replied: "Of course." He didn't say what it was, but anyone can figure it out. Wikileaks putting this "secret information" out several weeks after it was announced in public by a high-placed German official is about like announcing that the Americans are still involved in Afghanistan...
