Courtesy of Mish.
Moment of Recognition
It appears a majority of German citizens have finally had enough of chancellor Angela Merkel saying one thing and doing another in regards to bailouts. They have also had enough of Mario Draghi and his policies.
According to Der Spiegel a Majority of Germans Want the Constitutional Court to Kill the ESM
- 54% want the court to reject the ESM outright. Only 25% want the court to ignore the Euroskeptics
- 53% are against transfer of more powers to the EU. Only 27% are in favor.
- 42% want Greece out of the Eurozone. Only 30% want Greece in the Eurozone.
Merkel’s Disingenuous Reservations
Another article in Der Spiegel claims Merkel has also expressed reservations on ECB decision.
Merkel frequently says one thing and does another. If she has reservations, I suggest the reason is political expediency. Too many Germans are against the ESM for her not to express reservations.
Other German politicians are much easier to read.
CSU General Secretary Alexander Dobrindt reacted anxiously: “I stand by my warning that a public finance by printing is wrong and extremely dangerous.” He could only urge Draghi strongly “not to open the floodgates for comprehensive purchasing programs.” Dobrindt warned: “The ECB must be a bank stability and must be no inflation bank.”
Sharp criticism of Merkel came from the opposition: SPD parliamentary leader Frank-Walter Steinmeier appreciated the decision of the ECB as a “document of failure” of Chancellor Merkel. You know “that in its own coalition has no majority for more bailouts,” Steinmeier said in Berlin on Thursday. Therefore, the chancellor had assigned all responsibility for the euro bailout by the ECB. “What follows now is taking place with much reduced parliamentary control,” said ahead of the SPD politician.