The euro snapped three days of losses against the dollar after Finance Minister Peer Steinbrueck said yesterday Germany would show its “ability to act”
How does Germany act? Germany is like the state of California and cannot simply credit bank accounts.
“Germany is finally waking up to the reality that if they want to preserve that project which is the euro, then they’ll have to open up their own purse strings and help their neighbors,” said Geoffrey Yu, a strategist in London at UBS AG,
Again, how? If anything, it is the Fed supporting their system. Germnay can't. No country in Europe can. The Federal Reserve can do it and has been doing this, however, how far is the Fed prepared to go? How many $trillions?