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"KaBoom: Britain And Now Germany


Last Edited: May 9, 2010, 8:17 pm

Wonder if Obama and the Fed will guarantee the IMF Britain and Germany's portion of Greece bailout money if they refuse to fund?


"KaBoom: Britain And Now Germany

Sunday, May 9. 2010
Posted by Karl Denninger in International at 12:35
Source The Market Ticker

Britain is refusing to underwrite the so-called "Euro Stability" fund:

But the loan guarantees are too much for the UK to swallow, and the Treasury will have nothing to do with them. Without them the package looks pretty thin.

It also appears that Merkel lost her majority in the German Parliamentary elections, which means her Greek bailout support has now cost her the coalition government she previously enjoyed.

That, in turn, means that it is very likely that Germany has provided the last support it is going to be "contributing" (more accurately, being extorted from German citizens at gunpoint) to Euro "stability" as well.

Here comes the fun folks, pretty much exactly as I expected.

Anyone want odds on the Germans returning to the Deutchemark?

To the banksters: Bonne chance."


Entry #1,801


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