Spiegel Online features a quite interesting interview with German Finance Minister Wolfgang Schäuble. It appears to us that the the Minister doesn't quite know what to say any more - and that he's running dry on euro crisis rethoric (given that we're fast approaching the 18th month of the eurozone crisis, this is perhaps not that surprising...)The interview kicks off like this:
SPIEGEL: Minister Schäuble, 15 years ago, a leading German politician wrote a book in which he predicted that the euro would no longer allow countries belonging to the European common currency the luxury of "relapsing into comfortable debt creation." Do you have any idea who made this prognosis?
SPIEGEL: It was the then-floor leader of conservatives in parliament, Wolfgang Schäuble.
Schäuble also floats the old "Lehman" myth - which we've addressed here.
Have you listened to Jean Claude (Canute) Trichet's press conference? He clearly believes that by simply saying 'no default' the tide will cease to ebb and flow. Meanwhile, the waves are destroying his castles built on very soft sand.
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