Germany’s Merkel is Steadfast in the Decision That Issuing Shared Debt by ECB is Not the Right Direction

So again Germany is against the idea of leveraging the EFSF and creating a TARP style program. For the world this would be a simple one time solution…or at least a way to give relief to markets in peril. Germany states there is no one magic action that will solve the problem; and that the problem must be solved through austerity.

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