Eurozone crisis: if Greece goes, Germany's prosperity goes with it
From guardian.co.uk
Germany last week found itself able to borrow for two years at the astonishingly low rate of 0.07%. Very nice too: but surely the real message Angela Merkel and her colleagues must take from the successful auction of those zero-coupon schatz bunds is that the single currency simply isn't working. All the money wants to flow in one direction: towards Germany. It is only the efforts of the European Central Bank, as a giant recycler of liquidity to dry areas of the eurozone banking system, that is ensuring a stability of sorts. This position can't be sustained. You would be hard-pressed to identify any shift in ...
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