Merkel Says No European Shared Liability As Long As She Lives

Tyler Durden's picture

For. The. Win.

  • GERMANY'S MERKEL SAYS EUROPE WILL NOT HAVE SHARED LIABILITY FOR DEBT AS LONG AS SHE LIVES

Socialism better have a Plan B.

Gold, Silver, Stocks, Treasury Yields, and EUR all plunging...

 

and in the meantime, Spain and Italy yields push higher and Spain and Italy bank stocks plunge further...

Why is Merkel doing all of this? Simply. We have said it n times before... We will say it again:

Germany will continue pushing every peripheral country closer to the brink (which helps Germany courtesy of increasing pressure on the EURUSD, which benefits the only real net exporter and mercantilism beneficiary in the Eurozone - Germany - by now only absolute economic dilettantes don't seem to understand this) until such time as PIIGS (and then all the other formerly core - here's looking at you socialist "fairness doctrine" entrants) come begging for any scrap that whoever is in charge of Germany will be willing to hand them, in the form of a Debtor In Possession loan of course, and thus accretive to Bunds. If that means presenting their gold to the German Cash4Gold pawn shop under the guise of a Redemption Fund or whatever it is called, so be it. Unless of course, everyone keeps demanding that Germany bail them out. In which case Merkel will just unpack that brand spanking new shipment of DEMs and be done with it.