Skip to comments.German Minister Demands Gold Collateral For Future EU Bailouts
Posted on 08/23/2011 7:27:03 AM PDT by SeekAndFind
German Labor Minister and CDU deputy president Ursula von der Leyen said that future bailouts in eurozone countries should be covered by gold reserves or industry stakes, according to a Reuters report.
This is the newest development in the debate over whether collateral should be offered to nations contributing to the Greek bailout.
Finland sparked controversy last week when it concluded negotiations with Greece over a cash collateral to be offered in exchange for Finland's role in the bailout. Other countries quickly appealed for their own bilateral collateral agreements. Finland has said it will not participate in the bailout without collateral.
Von der Leyen's request for collateral would apply only to future bailout agreements, not the Greek bailout proposed on July 21.
Bilateral negotiations could undermine joint EU action by dragging out the passage and implementation of bailout measures. It is unclear whether von der Leyen was advocating collateral on a bilateral basis.
(Excerpt) Read more at businessinsider.com ...
The Germans have finally learned - you don’t need Panzers to have Europe dance to your tune. Be productive and prudent, and just be patient while the others destroy themselves by their own hand.
ants and grasshoppers
Things are definitely getting interesting.
deutschland über alles immerhin...
they just changed one letter — t to a b....from tanks to banks....
Lol,,, they must be pretty dumb financial guys, after all you can’t eat gold,,, I’ve read that many times on these threads.
I hope China doesn’t get any ideas ...
It really is happening...
Ze drem vil finali kum tru.
I just like saying “bilateral collateral.”
Trust in God. All others pay in gold bullion.
The dream will finally come true? Cute.
LOL - thanks for sharing.
During ze fifz yer ze unesesary ‘o’ kan be dropd from vords kontaining ‘ou’ and similar changes vud of kors be aplid to ozer kombinations of leters.
After ziz fifz yer ve vil hav a rali sensibl riten styl. Zer vil be no mor truble or difikultis and evrivun vil find it ezi tu understand ech ozer.
Ze drem vil finali kum tru!
Sounds reasonable. It did take a while for the Germans to get wise, though.