"Finance Minister Wolfgang Schaeuble hatched a plan to siphon off a huge chunk of sovereign debt for every country in the EU and pretend to do something about it, not now of course, but over the next 20 years.
Allegedly the siphoned off debt would be paid back via a "National Redemption Fund".
Of course the only way to pay that debt back is by raising taxes or cutting spending for 20 years which means it has a snowball's chance in hell of actually working..."
at http://globaleconomicanalysis.blogspot.com/2011/12/germany-finance-minister-hatches.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29#ixzz1fVBdbEK2
Allegedly the siphoned off debt would be paid back via a "National Redemption Fund".
Of course the only way to pay that debt back is by raising taxes or cutting spending for 20 years which means it has a snowball's chance in hell of actually working..."
at http://globaleconomicanalysis.blogspot.com/2011/12/germany-finance-minister-hatches.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29#ixzz1fVBdbEK2
