AI
Tuesday, July 12, 2011 11:27:28 AM
Rising euro pressure could force Merkel U-turn
German Chancellor Angela Merkel could be forced into a major shift from her piecemeal approach to the euro zone debt crisis within weeks under rising pressure at home and in Europe.
Political allies and EU officials say she will have to choose between a leap forward in European fiscal integration to support Greece and other debtors, or possibly forcing a hard restructuring of Greek debt.
Many expect her to choose a European solution despite domestic resistance.
Since the crisis began in late 2009, Merkel has reluctantly agreed to bail out Greece, Ireland and Portugal one-by-one, vowing to do all that is necessary to save the euro. Contagion now threatens far bigger countries like Spain and Italy.
Only once has she wavered from a rock-hard line toward the currency area's financial weaklings -- in May 2010 when under intense pressure from financial markets and other leaders in the bloc, she accepted the creation of a rescue fund.
The bloc's crisis has reached a similarly critical stage this week and with an emergency summit of EU leaders under discussion, Merkel may be forced once again to swallow steps she has resisted publicly and privately for months.
http://www.reuters.com/article/2011/07/12/us-eurozone-germany-idUSTRE76B3RF20110712
Proshares Ultra and Ultrashort ETF's
UCD CMD – 2x Commodity
ULE EUO - 2x Euro
YCL YCS - 2x Yen
German Chancellor Angela Merkel could be forced into a major shift from her piecemeal approach to the euro zone debt crisis within weeks under rising pressure at home and in Europe.
Political allies and EU officials say she will have to choose between a leap forward in European fiscal integration to support Greece and other debtors, or possibly forcing a hard restructuring of Greek debt.
Many expect her to choose a European solution despite domestic resistance.
Since the crisis began in late 2009, Merkel has reluctantly agreed to bail out Greece, Ireland and Portugal one-by-one, vowing to do all that is necessary to save the euro. Contagion now threatens far bigger countries like Spain and Italy.
Only once has she wavered from a rock-hard line toward the currency area's financial weaklings -- in May 2010 when under intense pressure from financial markets and other leaders in the bloc, she accepted the creation of a rescue fund.
The bloc's crisis has reached a similarly critical stage this week and with an emergency summit of EU leaders under discussion, Merkel may be forced once again to swallow steps she has resisted publicly and privately for months.
http://www.reuters.com/article/2011/07/12/us-eurozone-germany-idUSTRE76B3RF20110712
Proshares Ultra and Ultrashort ETF's
UCD CMD – 2x Commodity
ULE EUO - 2x Euro
YCL YCS - 2x Yen
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