Tag Archives: Delors

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‘Single banking union doomed to fail’

‘Single banking union doomed to fail’

‘The discussions to date about the latter [common banking system] tell me that the political masters in Europe heavily controlled by Germany are making the same type of errors that they made back in 1992 and after in relation to the currency.

They just cannot get it sorted that a federation can only work if there are certain characteristics present. The very characteristics that the Germans will never allow to exist.

That tells you why the Eurozone is a recipe for stagnation and periodic crisis among at least several of its member-states.’

‘Nuff said.

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