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Germany is considering a "European stability, growth and investment fund," according to a government paper seen by the Sueddeutsche Zeitung daily.
If such a fund were used to invest directly in renewable energy, energy savings and energy infrastructure both throughout and linked to Europe, then
then we would live in a different universe.

Look here to see what they're actually talking about. There's no "investment" involved. Instead, there's talk of a fund "for the disciplining of member states" with "fatherly severity", and of "like with the IMF", "borrowers relinquishing sovereignty" over the objections of national parliaments. Oh, and borrowers would be required to pledge gold reserves as guarantees, so maybe they actually want to put the Euro on a gold standard.

I despair.

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010

by Migeru (migeru at eurotrib dot com) on Fri Dec 24th, 2010 at 10:21:10 AM EST
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