• German GDP growth two-thirds domestic demand
  • Germany doing what it can to strengthen euro
  • Euro helped Germany get through post-Lehman crisis
  • Stabilizing euro ‘the key issue for Germany’
  • ‘Papering over’ roots of crisis won’t work
  • Investors lack confidence in euro area
  • Lack of confidence between actors in the crisis
  • Debt crisis is ‘historic challenge’ for Europe
  • Europe must move toward political union
  • Germany to reject ‘quick’ crisis solution at G-20
  • Rejects joint euro area bonds. Path to mediocrity
  • Rejects ‘premature’ joint liability in euro area
  • Germany’s economic strength ‘not unlimited’
  • US property boom was wrong economic model
  • EU countries will need to cede some sovereignty
  • Bond spreads will narrow if economies converge
  • She’s ‘fighting for’ closer political union

Bloomberg reporting.

Standard fare so far. Same shit, different day (The Sequel)

EUR/USD comatose at 1.2627.