Tuesday, 8 November 2011

Cameron the money printer

The Telegraph reports:

Mr Cameron is thought to be in support of a plan for the European Central Bank effectively to print money in a Continent-wide quantitative easing programme which could be used to rescue Italy and possibly Spain. The ECB is heavily dependent on German financing but Angela Merkel, the German Chancellor, has refused to support the bank playing a central role in a eurozone bailout package because of fears that it will cause high inflation.

It is the first time that the Prime Minister has publicly expressed his anger at Germany for blocking a deal involving the ECB.

Massive money printing: what could possibly go wrong?

It's as if the Germans have past experience of this ...

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