I really don't understand why German citizens are putting up with this. I'd expect riots and a wholescale overthrow of government if the IMF gets its way.
That's my way of saying that I don't think it will happen.
IMF piles pressure on Germany to help struggling eurozone banks directly
Christine Lagarde urges eurozone leaders to ease 'acute stress' on euro as Moody's downgrades 15 of world's biggest banks
Julia Kollewe
guardian.co.uk, Friday 22 June 2012
The head of the International Monetary Fund has piled pressure on Germany by recommending a series of crisis-fighting measures that chancellor Angela Merkel has resisted.
IMF managing director Christine Lagarde warned that the euro is under "acute stress" and urged eurozone leaders to channel aid directly to struggling banks rather than via governments. She also called on the European Central Bank (ECB) to cut interest rates.
Her comments came as Italy's prime minister, Mario Monti, warned of the apocalyptic consequences if next week's summit of EU leaders were to fail.
The stark message from Lagarde, delivered to eurozone finance ministers who were meeting in Luxembourg, will increase pressure to come up with a unified approach to tackle problems including Spain's struggling banks. She urged the 17 eurozone countries to consider jointly issuing debt and helping troubled banks directly. She also suggested relaxing the strict austerity conditions imposed on countries that have received bailouts.
More: http://www.guardian.co.uk/business/2012/jun/22/imf-pressure-germany-christine-lagarde
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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