Socialist Lampoon's European Vacation Is Over As Merkel Calls To Order
Ahead of this week's 'critical' game-changing events - or not - it seems Europe's true overlord-ess is back, and now, tanned and relaxed, she is making clear that nothing about her (or her country's) view of the world has changed - no matter how much Draghi, Monti, Hollande, Rajoy or Samaras jawbone about it. It would seem by her words that expectations are being set and conditionality remains key - which means no matter what the ECB does - it is a can-kick no nearer an end-solution; and the market in its wisdom will price through that can-kick (after knee-jerking first of course): (via Bloomberg)
- *MERKEL SAYS `DEBT MEANS DEPENDENCY'
- *MERKEL SAYS EU MUST ENSURE THAT IT FIRST EARNS WHAT IT SPENDS
- *MERKEL SAYS `ECONOMY THERE FOR PEOPLE, NOT PEOPLE FOR ECONOMY'
- *MERKEL SAYS EUROPE HAS TO LEARN TO ONLY SPEND WHAT IT TAKES IN
- *MERKEL SAYS TOO MANY IN EUROPE HAVE LIVED BEYOND THEIR MEANS
- *MERKEL 'ABSOLUTELY CONFIDENCE' ECB TO WORK WITHIN ITS MANDATE