Wednesday, February 12, 2014

German Court Rules Against European Central Bank (ECB)

A reader of this blog sent me a link to an interesting story in the Telegraph (UK). The article is about a recent court ruling made in Germany that could prevent the ECB from being able to engage in Quantitative Easing over in Europe. These kinds of disputes are directly relevant to change in the monetary system because it indicates lack of cooperation within the present system. That could lead to a break down in the present system. This article even suggests Germany could withdraw from the Euro.

Here is a quote from the article:

"Last week’s ‘thunderbolt’ ruling on eurozone rescue policies by Germany’s top court marks a serious escalation of Europe’s governance crisis and may ultimately force Germany to withdraw from the euro, the country’s most influential magazine has warned.

A sweeping report by Der Spiegel said the court ruling amounts to a full-blown showdown between Germany and the European Central Bank over the methods to shore up southern Europe's debt markets.

my added commentary: If any readers here see articles like this please feel free to email me the link and I will post them here if they are relevant to our topic. I read a lot of media sources to try and pick out the best information to post here, but I can't possibly catch eveything   (I have an actual job in the real world:)

Any extra eyes are always appreciated. And thanks to this reader for letting me know about this interesting article.

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