Merkel, just say nein to Eurobonds

Now the people borrowing and spending the money, such as Greece, Italy and Portugal, are not the same people controlling the money supply. This is handled by the European Central Bank, whose policies Germany monitors closely. When spendaholics reach their tax and borrow limits they can no longer print money. Thus the violent convulsions reverberating through countries that must face the music. …

Then came the stroke of genius that united the forces of socialism and capitalism: Allow the profligate nations such as Greece, Italy, Portugal, etc., to borrow and spend, but require Germany to pay back the loans. …

Therein lies the common ground between investors looking to save their own portfolios and politicians looking to spend their way into office. Who cares what happens to Germany and the other responsible nations?