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Wednesday, July 15, 2015

German Finance Minister Wofgang Schauble Explicitly Calls for Grexit

     That call from the IMF for 30 year debt restructuring was pretty jarring.

      http://diaryofarepublicanhater.blogspot.com/2015/07/imf-greece-may-need-30-years-to-recover.html

      Greece's former finance minister Varoufakis' comments were also pretty interesting.

     http://diaryofarepublicanhater.blogspot.com/2015/07/trying-to-discuss-economics-with.html

     However, the latest comments from Germany's equally notorious finance minister, Schauble is also pretty earth shattering. There was a debate on Twitter on Sunday about the crazy '5 year Grexit plan' Schauble 'suggested' on Sunday.

     At the time some had argued that he had gone rogue in making that request. Others , however, dismissed that idea-surely he had Merkel's blessing to make that suggestion.

    However, he has now made some public comments that show that he is in fact going rouge.

  German Finance Minister Wolfgang Schäuble cast doubt Tuesday on Europe’s latest rescue plan for Greece, claiming that many Germans would still prefer a ‘Grexit.’

Schäuble’s extraordinary comments signal a rift within Chancellor Angela Merkel’s government over whether to continue to extend aid. The comments are particularly notable because Schäuble was for the first time publicly distancing himself from Merkel, who fought for the agreement reached Monday after a 17-hour negotiating session."

In the past, Schäuble has disagreed with Merkel in private but toed the chancellor’s line in public.

“There are many people, also in the German federal government, that are pretty well convinced that (a Grexit) would be a much better solution for Greece and the Greek people,” Schäuble told reporters in Brussels. “But it’s something that only they can do themselves.”

     http://www.politico.eu/article/german-finance-minister-schauble-undermines-greek-deal-grexit-merkel/

    You want to here something else amazing? Convergence has happened: I fully agree with him. It would be a much better solution.

    Yet the markets seem utterly confident that the Greek problem has been solved for the time being.

   

   

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