Debitor and Creditor

Today, I read and heard the following – and I can hardly believe my eyes and ears:

Merkel successful at EU summit!
EU nations want a better protection of the Euro!
The Federal Government installs a permanent crisis mechanism, which is supposed to protect us against possible future economical, financial and currency crises!
In the future, the main burden for saving over-indebted member states is to be borne by private creditors like banks and fonts!

Those are the moments when I think I must be dreaming:

What happened, to make anybody call it a success?
How can you protect the Euro additionally, except by all those billions we already provided?
Who is naive enough to believe it is possible to protect us permanently from another economical, financial or currency crisis?
Hasn’t it always (until recently) been so that creditors had to shoulder the risk?

Well, I guess they had story telling time in Brussels. And this time, the siblings Merkel&Sarkozy told the fairy tale protection for the entire Euro zone.

Now all that remains is for the Lisbon treaty to be modified – but, please, in such a way that the people need not vote.

Oh, yes: on the next EU summit in December, the President of the Council of the European Union, Herman Van Rompuy, is supposed to come up with ideas how to make the crisis mechanism work.

It is all so easy. Basically, it is hilarious.

RMD
(Translated by EG)

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