Dr. Seuss takes on Chancellor Merkel
Germany's Angela Merkel made her most forceful comments yet on the possibility of providing shared eurobonds and an FDIC-like guarantee for bank deposits. The Reformed Broker composes a poem in honor of the occasion.
German Chancellor Angela Merkel celebrates during the Euro 2012 soccer championship quarterfinal match between Germany and Greece in Gdansk, Poland, on June 22, 2012. The markets were less than thrilled with Merkel insistence that under no circumstances will Germany provide an FDIC-like guarantee for bank deposits.
Gero Breloer/AP
Angela Merkel made her most forceful comments yet on the possibility of Germany providing some kind of shared eurobonds and an FDIC-like guarantee for bank deposits - she said "not in my lifetime." That quote comes courtesy of Reuters, there is a string of comments coming from the same source as we speak.
And, well, the markets certainly didn't love to hear that door slamming shut.
I do not like
Shared bonds and banks.
Would you like them
Here or there?
I would not like them
here or there.
I would not like them
anywhere.
I do not like
shared bonds and banks.
I do not like them,
Sir, no thanks
Would you like them
in a house?
Would you like them
with a mouse?
I could go on but, well, you get the picture. Not happening, which kind of throws some cold water on this Friday's eurosummit.
More to come.