Tine to break out Sgt. Schultz again…Fan’s of Hogan’s Heroes will remember the refrain “I zee nothing!”
Same for Bundesbank president Weber who says he sees no credit crunch in Germany. This despite ample evidence that banks are still hording liquidity like they may never lend again.
He dismisses the idea of the ECB buying corporate bonds, saying that would only be necessary if the banking system were dysfunctional…
Since there is no credit crunch than the banking system can’t be dysfunctional, right? Problem solved!