tag:blogger.com,1999:blog-36227136.post5976367584714815138..comments2024-01-16T08:40:53.682+00:00Comments on <a href="http://www.openeurope.org.uk">Open Europe</a>: Germany faces some tough decisions on the ECBOEhttp://www.blogger.com/profile/00556463374230498875noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-36227136.post-84742921733648165312012-08-28T19:58:54.210+01:002012-08-28T19:58:54.210+01:001. Both are independent. At least officially. Weid...1. Both are independent. At least officially. Weidmann is very popular in Germany.<br />Anyway it will be very hard for Merkel to get rid of him (even if she wants that) as he simply looks to have made the decision to go to battle (unlike the 2 before him) and trying to fire (not officially) him will make her very unpopular.<br />2. Merkel probably doesnot see a real solution happen politically and has been testing the water on more ECB interference. To keep it realistic.<br />Everything she has said however could at the end been interpreted in several ways.<br />Seen now that this is clearly a bridge too far she is stepping somewhat back.<br />3. Draghi has made the mistake imho to take Merkel's words a month ago or so in the same way as if they were said by a CBer. He missed completely that she is a politician who often in difficult issues simply tests the water and changes her ideas.<br />Furthermore Draghi has clearly made a mess out of the relation with the ECb's (by far) main backer the Buba (by bringing Weidman as the only one against in the open). Furthermore that weidmann looks to go for a fight.<br />Imho it is verystrange that markets are so positive as a messed up relation with the Buba makes a structural long term solution nearly impossible.<br />So although media are not talking about this Draghi has lost a lot of credibility in this. If he cannot deliver he and the ECB will most likely be punished.<br />4. CSU are digging themselves in. My idea that they will get something (say a Greek head).<br />FDP is making their standard u-turn. Completely uncredible party.<br />Dutch might vote against Greece 3.0 everybody is forgetting.<br />5. Greece looks to be a major problem. Effectively the troika is making the wrong report per a later date. Most likely explanation either a defer strategy or trying to keep them aboard whatever happens. Also not unlikley like the ECB with the ELA simply putting the problem where it belongs with the politicians that keep passing the hot patato to somebody else. Riknoreply@blogger.comtag:blogger.com,1999:blog-36227136.post-61954876009596675712012-08-28T18:05:03.258+01:002012-08-28T18:05:03.258+01:00Jörg Asmussen is a lobbyist of the finance sector....Jörg Asmussen is a lobbyist of the finance sector. Period. Anonymousnoreply@blogger.com