Merkel’s Coalition Steps Up Calls for EU ‘Orderly Insolvencies’
May 04, 2010 at 08:12 AM EDT
It doesn’t get any more ominous than this. This would insure an orderly default of the entire currency union. Which is already in progress. Germany is concerned that the Greek situation resulted in larger deficits for the other members, and wants something in place so defaults don’t result in this type of fiscal expansion for the [...]