There are those cynical elements out there, who think that the primary reason why Germany has been unhappy with Greece is that the Germany military-industrial complex has lost a staple buyer of its military products (recall: "Greece Spends Bailout Cash On European Military Purchases" and one wonders just how instrumental the brand spanking new PASOK leader, Venizelos, who was Greek Minister of National Defense, has been in such arrangements in the past). Well, Germany may have just found a way out. Reuters reports:
- GERMAN DEFENCE MIN SAYS TO DELIVER ANOTHER SUBMARINE TO ISRAEL FOR WHICH GERMANY WILL PROVIDE FINANCIAL HELP
And that is how Germany has just found a replacement to the Greek military bid. And since Israel is not part of TARGET2, it is likely that Germans won't be on the hook for this particular German-funded purchase. The question remains if they will accept shares of Apple in exchange, directly from the Bank of Israel. As for the implications of Germany providing weapons to Israel, well, we can just assume it is part of the New Normal.