"Angela Merkel is sending a pretty clear message this weekend – EMU leaders will not be bullied into action just because the markets are throwing a fit about the speed of their actions. Bloomberg provides some highlights of her recent comments:
“At this time — we’re in a dramatic crisis — euro bonds are precisely the wrong answer,”
“They lead us into a debt union, not a stability union. Each country has to take its own steps to reduce its debt.”
at http://pragcap.com/merkel-we-will-not-be-bullied-by-the-markets“Politicians can’t and won’t simply run after the markets,”
“The markets want to force us to do certain things. That we won’t do. Politicians have to make sure that we’re unassailable, that we can make policy for the people.”
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