Reportedly, Merkel is to side with Schäuble in her meeting with Sarko on Friday. Why do you think she changed her mind? I haven't seen any news about her voicing an opinion on this, so there was the Bundesbank boss only – which could have been interpreted as either channelling Merkel's disagreement with Schäuble or, quite the opposite, trying to overcome the fact of being a political nominee and establish credibility with the in-house hawks by demonstrating independence from the government. But with this latest I now think Merkel didn't made up her mind and then chose whatever furthers her stay in power.

Meanwhile, the chairman of the SPD (PES!) called Schäuble's plans a placebo and dared something bolder in calling for defaults and Eurobonds.

_{*Lunatic*, n.
One whose delusions are out of fashion.}