AUTOREFRESH 
ECB’s Stark throws cold water on EMF talk
By Jamie Coleman || March 8, 2010 at 15:46 GMT
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A European Monetary Fund would be against the rules of EMU (economic and monetary union), says ECB chief economist Stark.
- It would burden countries with strong finances and create false incentives
- Countries with lax finances would not change their ways
- Would undermine public confidence in euro and the EU
- Starks says he wants reform of the stability pact, with harsher penalties for deficit “sinners”
But how do you really feel, Jurgen?
EUR/USD is at 1.3635, eying session lows at 1.3625. We trades as low as 1.3631…
“It would burden countries with strong finances”, and by countries with strong finances he of course means THE VATERLAND…
Merkel on BB – Saying they would regulate CDS if needed. Also saying IMF Proposal good and ineresting. CDS are being abused.
If there’s one thing I’m afraid of in the EU, is the German hegemonist tendencies re-emerging during this crisis. They haven’t done enough to repay Europe for WWII. Because of their f***** war, Europe lost almost all of the colonies (especially UK) and US emerged the strongest country in the world as opposed to pre-WWII situation. So they better shut up and keep working to pull Europe of the shi* they themselves put it in. Beside this, than they should solve the situation in the middle east with Israel and Arab countries which is also a direct consequence of their f***** war!
One more and excuse my language – I’m really pi$$ed off now about this Jurgen nazi. UK finished three years ago paying the last installment to US for the aid given during WWII to defend it’s independence. What F***ED up world is this where UK has to pay US for 50 years because it defended it’s independence and Germany receives Marshall plan as soon as the war is over????
[...] March 16, 2010 at 15:52 GMT || 0 comments || Add comment Looks like ECB chief economist Stark was a bit hasty in dismissing the idea of a European monetary fund last week. He now says there are elements that need to be studied in more detail. Share and [...]