http://www.zerohedge.com/article/europe ... os-warns-g…
Tiens sinon, vous voyez la France dans le Top 8 des augmentations des CDS ?European Default Risk Surges As Soros Warns Germany Could Cause Euro Collapse
Ironically even with Greek CDS surging by 60 bps to 909 bps this morning, the biggest mover in percentage terms is not the bankrupt Mediterranean country but Europe's "stablest" one - Germany, whose default risk has spiked by 9.19% according to MarkIt. Without splitting hairs, Europe is a sea of red this morning as the ugly specters of default and complete lack of credibility in the EU administration raise their ugly heads again. Yet adding that special spark to the reignited flame, is George Soros, who in an interview with Die Welt, said that "German policy is a danger for Europe, it could destroy the European project."
More from Reuters:This interview merely confirms this underreported clip on German TV station Phoenix, from June 17, when in passing it was noted that Merkel said Germany was consider returing to the D-Mark.Soros, who earned $1 billion in 1992 by betting against the British pound, added that he "could not rule out a collapse of the euro."
"If the Germans don't change their policy, their exit from the currency union would be helpful for the rest of Europe," he said.
Chancellor AngelaMerkel unveiled plans earlier this month for 80 billion euros ($107 billion) in budget cuts over the next four years -- a package she hopes will bring Germany's structural deficit within European Union limits by 2013.
"Right now the Germans are dragging their neighbors into deflation, which threatens a long phase of stagnation. And that leads to nationalism, social unrest and xenophobia. Democracy itself could be at risk," he said.
"Germany is globally isolated ... Why don't they let their salaries rise? That would help other EU states to pick up."
Merkel on Monday defended her budget cut plans after U.S. President Barack Obama preached patience in clamping down on public spending. A German government official said on Tuesday Berlin did not expect to come under pressure at a G20 summit in Toronto this weekend to provide fresh stimulus measures.
At the end of the day everyone knows how this specatcle is going to end, yet for some reason they choose to continue the farce day after day, at a cost of trillions in taxpayer capital. Yet oddly enough, aside from a few strikes here and there, taxpayers continue not to mind. Perhaps nothing will ever change.