RANsquawk EU Market Re-Cap - 27th June 2012

Comments

[chinaguy]

Merkel poops in the punch bowl today:

• Crisis shows daily how some euro states can hit all
• Euro bloc must follow best practice, not mediocrity
• Political union needs to correct euro’s failures
• Shared liability is unprecise, can’t come first
• Too much about liability, too little about controls
• Control and liability must go hand in hand
• Agrees with Van Rompuy’s building blocks
• EU integration means more intervention in budgets
• Mutual liability possible only with enough oversight
• Euro bonds are the ‘wrong way’
• German strength not unlimited, don’t overestimate
• Euro bonds would lead to same old mistakes repeated