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Wolfgang Münchau, FT: Merkel was the winner of the Euro summit
Wolfgang Münchau endorsed many of our arguments
Wolfgang Münchau, Financial Times, has endorsed many of our arguments of our Friday's opinion about the Euro summit where we stated that there was nothing really new. Münchau even claims that "The real victor in Brussels was Merkel."
And he confirms what we also think:
" If Ms Merkel is right and there are no eurozone bonds in her lifetime, the eurozone will not survive. Without eurozone bonds or a change in ECB policy, Italy’s and Spain’s debt – and eurozone membership – is not sustainable"
See this article on the FT.
Marc Chandler: Merkel is not isolated at all
Marc Chandler also claims that Merkel is not isolated and that markets just rally on because there was an agreement, even if this agreement is not helpful to solve the crisis.
Full story here
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Tags: debt,ECB,EFSF,ESM,Eurobonds,Eurozone,Fiscal Union,Merkel,Other Periphery
Tags: debt,ECB,EFSF,ESM,Eurobonds,Eurozone,Fiscal Union,Merkel,Other Periphery
Permanent link to this article: https://snbchf.com/2012/07/wolfgang-munchau-ft-merkel-was-the-winner-of-the-euro-summit/