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New policy

The Rhein-Neckar-Zeitung (7th September 2012, p. 2) comments on the intention of the European Central Bank (ECB) to act in future as a “money sluice”, and writes under the heading “That was too much”, “Because this decision means nothing other than to buy up government bonds of Euro debtor countries without restriction.” The RNZ points out that the financial market referred to by Finance Minister Schäuble as so nervous, hardly reacted at all to this announcement. “By the evening”, reported the newspaper, “the Euro was worth just as much as in the morning.”

This raises the question of whether Finance Minister Schäuble has any idea at all of his mandate, because if he really wanted to contribute to the stability of the Euro , he would hardly be keen to weaken the currency by such misconceptions. Nor could he be indifferent to the fact that speculators, who were supposed to be fended off by this action, were allowed to continue with “business as usual”. The stupid thing is: Through this decision, which was significantly influenced by Chancellor Merkel by means of her coup against Jens Weidmann , the head of the Deutsche Bundesbank, who was the only one to vote against this action by the ECB Council, she has now played her last cards in the struggle over the rescue of the Euro. Up to this moment, Germany was still considered firstly as still the best-placed country in the crisis, which is also a blatant lie , while on the other hand the German parliamentarians somehow still had influence on the rescue of the Euro, which has grown into an obsession to save the Euro. This opportunity has now been missed; Germany has sold itself out. And not even for a good price, in the opinion of the Alliance for Democracy, but at a knock-down, bargain price.

The RNZ at least says, like the Alliance for Democracy: “Jens Weidmann was completely in the right when he tried in the run-up to the ECB meeting to mobilise all forces for monetary stability. That Merkel abandoned him in this fight is unforgivable, and Germany is ripe for a new policy.”

It is a pity that this insight was only published after the damage had already been done. Before the vote, the RNZ had also taken no stand for Weidmann. In this respect, it should be noted; We need not only a new policy, we also need a new press.