Ambrose Evans-Pritchard from the Telegraph weighs in with his latest. It’s must-read stuff. He calls the turnabout of the Germans, Dutch and Finns on using the ESM to pay for the Spanish bank bailout ‘a betrayal’.
The temptation to tell the Germans and Dutch to go to Hell – and to pull the pin on their banking systems – must be growing mightily. Desperate men do desperate things.
Meanwhile, the euro is falling as the wait for Spain’s budget grows.