Home > Finance and Economics, World News > Angela Merkel doesn’t like the banks

Angela Merkel doesn’t like the banks

The German leader unloads with some arrogant and ominous rhetoric:

“First the banks failed, forcing states to carry out rescue operations. They plunged the global economy over the precipice and we had to initiate recovery packages. Because of these packages, we have become indebted and now, they are speculating against these debts — that is really very treacherous,” she said.

“Governments must regain their supremacy over the markets, which they no longer have, and for that we need much stricter global rules,” she added, at a debate on Europe organised by a public broadcaster.

States must “regain their supremacy over the markets”?  I understand this is Europe, where most people have it ingrained in them that government is the ultimate and most virtuous solution to their problems, but this is some harsh rhetoric in light of recent events.  Especially when considering that three bankers were killed during the Greek riots this week.  Not to mention the upheaval in the markets.

You would think that these arrogant buffoons would try to bring some confidence into the markets instead of using the bully pulpit to agitate.  It’s unfortunate because we’re seeing the same idiocy coming from our benevolent elected politicians here in the United States.

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