Archive - Jun 13, 2012

If yesterday was a repeat of the market action from that day three weeks ago before the last FinMin conference, when everyone expected Germany to announce it had agreed to a bank deposit guarantee, then today is, logically, day after. Because just like back then, so now, Germany has once again made it clear that it will first see the EUR crushed, and all off Europe begging for a bailout (as in the case of Spain - when presented with reality, they all will beg the one with the cash to come to the rescue). To wit from the German Finance Minister, via Stern magazine:

• Schaeuble Rejects European Redemption Fund: Stern Magazine
• German finance minister says redemption fund would violate EU treaties, in interview with Stern magazine

Testimony of Jamie Dimon: "Listen up you morons..."