Saturday, June 9, 2018

Macron’s Proposal to 'Pickpocket German Taxpayers'

 Emily Hohler reports from the UK's MoneyWeek:
One of Macron’s “headline proposals” was a plan to transform the ESM (European Stability Mechanism) bailout fund, born of the euro crisis, into a European Monetary Fund (EMF) to offer member states short and long-term loans in exchange for reforms. However, with Macron’s ideas often being framed as an attempt to “pickpocket German taxpayers”, Merkel is circumspect about the terms of the loans, the size of the pot and the EMF’s legal basis.
 Circumspect about the terms of the loans?

Why does Merkel put up with this stuff in any way?


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