Remember what Merkel said in 2012. Destroying to rebuild is the case here.
GERMANY could spark the eurozone’s collapse with controversial changes to government debt and bailout rules, a leading economist has warned.
Professor Peter Bofinger, a special advisor to the Berlin-based government, said Italy and Spain could potentially be forced out of the euro and back to their own currencies under new plans.
Under the proposed scheme, investors who hold Eurozone government-issued debts through bonds would have to accept write-offs on the value of their investment before the group steps in to offer bailout cash. Continue reading