Thursday, July 19, 2012

Germany's Lonely Realists About The Euro

From Ambrose Evans-Pritchard, here:


Thilo Sarrazin is not everbody’s cup of tea. The ex-Bundesbanker and shock-jock critic of Islam in Europe loves to make mischief.

But his latest broadside against monetary union in the Frankfurter Allgemeine is spot on. ...


Mr Sarrazin is almost alone in German public life, at least until the dam breaks, which cannot be far away.







His one big ally is Hans-Olaf Henkel, former head of the German industry federation and author of a master plan to break EMU in two – with Germany and northern allies withdrawing, leaving France and the Latin bloc with the euro. ...

He is a brave man, the survivor of two years of vilification in the German press for daring to challenge orthodoxy.