Tornado Alley (PROG)

[fuagf]

Great to know Angela Merkel so much better now .. :) .. along the way on reading (think it was in your first Spiegel) that one Europe rule was that they could not print money
to bail out a country, it surprised, and i wondered how that rule and the QE which they had belatedly taken on equated, so then picked up this Bloomberg QuickTake

Europe’s QE Quandary

Why the ECB is Finally Buying Bonds

By Jana Randow | Updated Jun 18, 2015 1:32 PM EDT

It’s the new conventional wisdom: When all else fails to make economies grow, create new money and buy government bonds. That’s the formula dubbed quantitative easing, or QE. Most economists think it helped keep the U.S. and the other countries that used it – Japan and the U.K. – from tumbling into a catastrophic depression. Could it work in Europe, too? It’s difficult for the 19-nation euro area to do the same thing, partly because of different interpretations of European Union rules, and partly because of concern it could undermine efforts to push governments to do more to revive their economies. But now that the European Central Bank has exhausted most other options, it’s pressing ahead with full-blown QE.

The Situation .. more with multi links .. http://www.bloombergview.com/quicktake/europes-qe-quandary

it's purely technical rather than personal so sorta dry, yet informative .. then .. wow the last four paragraphs from "What Does She Want?" of your 2nd Spiegel .. http://www.spiegel.de/international/europe/merkel-s-leadership-has-failed-in-the-greece-crisis-a-1042037.html .. two of the four .. her suggested total dismissal of Jean-Claude Juncker's proposals

"He proposed that the Commission be granted greater powers -- on budgetary oversight, for example. Juncker wasn't trying to launch a revolution, nor was he trying to lay the cornerstone of a European government or to eliminate European nation-states. It was nothing more than an attempt to draw a couple of practical consequences from the euro crisis.

But Merkel doesn't even want that. At the press conference following the summit, she spoke about everything: about Greece, about refugees trying to cross the Mediterranean, about Jacques Delors, who had been named an honorary citizen of Europe. Regarding Juncker's proposal, she had but one thing to say: she "took note of it." In politician-speak, that essentially means: Forget it."

toward a more structurally integrated Europe encapsulated much of her .. it seemed to encapsulate one of Europe's, and Merkel's, real problems .. the article above which by then was on tab seems to deal with Merkel's mindset, too .. she seems to be as ideologically fixed as she sees Tsipras, yet vacillates more in the crunch.

Excellent. The two Spiegel's and yours.