Saturday, June 7, 2008

Steadfast Principles, Integrity, Independence

“Not all Germans believe in God, but they all believe in the Bundesbank.”
-- Jacques Delors, President of the European Commission, 1992

For42 years the German Central bank defended the German currency from irresponsible fiscal policies of short-term oriented politicians, making it a bedrock next to the US$. Now you can see the same inherited gene pool running in the ECB.

To paraphrase Trichet, fuck growth.

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