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German bully banks have made billions from speculation

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Brian Whelan

Sceala Philosopher
Location: Kildare






Sceala Irish Craic Forum Discussion:     German bully banks have made billions from speculation

Now the world is starting to understand where all the billions have gone.
The ones who made the billions exploiting banks and effecting the poorest in society. They now want to change the rules, make sure no one targets them.
It is correct as said by a few commentators here, the French and German banks, and the British banks have made billions making Greece and Ireland poor.

Now Merkel wants to change the rules. She is probably scared a bigger bully will target them. China and India might be looking to play with their banks.

German Chancellor Angela Merkel reiterated her determination today that investors should contribute to the costs of a future euro zone debt bail-out but stressed this applied to future rescues only.
'We in the federal government are absolutely convinced it is necessary that creditors contribute to the cost in any future - and I underline 'future' three times so that the markets understand - mechanism,' said Merkel.

Previous comments to this effect by Merkel have rocked jittery markets, as they feared she was pushing for investors to pay for current debt crises, such as that destabilising Ireland.
Merkel has insisted she wants a permanent crisis mechanism within the euro zone from mid-2013 but this has spooked potential investors in the bonds of struggling countries in the 16-nation zone.
'It is important and right that we make clear as soon as possible the conditions for the future, so there is no uncertainty on the markets,' said Merkel.
Turning to the current difficulties faced by Ireland, Merkel said: 'We have a European support mechanism and if a country believes it needs to use it, that's what it is there for.'

Thanks Germany and France and our closest neighbours the UK. Your banks have made our predicament many times worse than it need have been.
You targeted Ireland like a spiteful bully.

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