{"id":1055,"date":"2011-09-28T19:13:37","date_gmt":"2011-09-28T23:13:37","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=1055"},"modified":"2011-09-28T19:13:37","modified_gmt":"2011-09-28T23:13:37","slug":"frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/28\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\/","title":{"rendered":"Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard"},"content":{"rendered":"<blockquote><p>The reason this crisis keeps grinding ever deeper is because the euro itself is a machine for perpetual destruction. The currency is fundamentally warped and misaligned. It spans a 30pc gap in competitiveness between North and South. Intra-EMU current account deficits have become vast, chronic, and corrosive. Monetary Union is inherently poisonous.<\/p>\n<p>The countries in trouble no longer have the policy tools \u2014 interest rates, QE, liquidity, and exchange rates \u2014 to lift themselves out of debt-deflation. Just as they had few tools to prevent a catastrophic credit bubble during the boom. Their travails were caused in great part by negative real interest rates set by the ECB (irresponsibly) for German needs.<\/p><\/blockquote>\n<p>via <a href=\"http:\/\/blogs.telegraph.co.uk\/finance\/ambroseevans-pritchard\/100012223\/frau-merkel-it-really-is-a-euro-crisis\/\">Frau Merkel, it really is a euro crisis \u2013 Telegraph Blogs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reason this crisis keeps grinding ever deeper is because the euro itself is a machine for perpetual destruction. The currency is fundamentally warped and misaligned. It spans a 30pc gap in competitiveness between North and South. Intra-EMU current account deficits have become vast, chronic, and corrosive. Monetary Union is inherently poisonous. The countries in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/28\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33],"tags":[974,1236,1292],"class_list":["post-1055","post","type-post","status-publish","format-standard","hentry","category-uk-europe-countries-regions","tag-debt-deflation","tag-emu","tag-euro"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The reason this crisis keeps grinding ever deeper is because the euro itself is a machine for perpetual destruction. The currency is fundamentally warped and misaligned. It spans a 30pc gap in competitiveness between North and South. Intra-EMU current account deficits have become vast, chronic, and corrosive. Monetary Union is inherently poisonous. The countries in &hellip; Continue reading &quot;Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/28\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2011-09-28T23:13:37+00:00\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard\",\"datePublished\":\"2011-09-28T23:13:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/\"},\"wordCount\":131,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"keywords\":[\"debt-deflation\",\"EMU\",\"Euro\"],\"articleSection\":[\"UK &amp; Europe\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/\",\"name\":\"Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"datePublished\":\"2011-09-28T23:13:37+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/28\\\/frau-merkel-it-really-is-a-euro-crisis-ambrose-evans-pritchard\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\",\"name\":\"ColinTwiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"caption\":\"ColinTwiggs\"},\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/colin58s\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Frau Merkel, it really is a euro crisis \u2013 Ambrose Evans-Pritchard - the patient investor","og_description":"The reason this crisis keeps grinding ever deeper is because the euro itself is a machine for perpetual destruction. The currency is fundamentally warped and misaligned. It spans a 30pc gap in competitiveness between North and South. Intra-EMU current account deficits have become vast, chronic, and corrosive. Monetary Union is inherently poisonous. 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It is therefore unlikely to succeed. It means\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2282,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/22\/the-world-from-berlin-will-merkel-change-her-tune-on-euro-bonds-spiegel-online-news-international\/","url_meta":{"origin":1055,"position":2},"title":"The World from Berlin: Will Merkel Change Her\u00a0Tune on Euro Bonds? &#8211; SPIEGEL ONLINE","author":"ColinTwiggs","date":"November 22, 2011","format":false,"excerpt":"The left-leaning Berliner Zeitung writes: \"People in the euro crisis have become accustomed to one constant: What Chancellor Angela Merkel categorically rejects today can still be implemented tomorrow. That makes the euro-bond debate ... so exciting. A 'no' from Berlin doesn't necessarily mean the last word.\"\"There are many indications that\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1223,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/09\/merkel-sarkozy-claim-broad-agreement-to-shore-up-banks-wsj-com\/","url_meta":{"origin":1055,"position":3},"title":"Merkel, Sarkozy Claim Broad Agreement to Shore Up Banks &#8211; WSJ.com","author":"ColinTwiggs","date":"October 9, 2011","format":false,"excerpt":"German Chancellor Angela Merkel and French President Nicolas Sarkozy said Sunday that they have reached broad agreement on a plan to shore up Europe's battered banks and restore stability to the euro zone.Speaking to reporters in the Berlin chancellery ahead of a working dinner as aides and ministers from both\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4728,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/30\/merkel-concessions-at-euro-crisis-summit-smarter-than-they-seem-spiegel-online\/","url_meta":{"origin":1055,"position":4},"title":"Merkel Concessions at Euro Crisis Summit Smarter than they Seem &#8211; SPIEGEL ONLINE","author":"Colin Twiggs","date":"June 30, 2012","format":false,"excerpt":"Christian Rickens: Merkel's concession is more than compensated for by a diplomatic victory she scored in the run-up to the summit: Late last week, she managed to get new French President Fran\u00e7ois Hollande to sign off on her fiscal pact, which is deeply unpopular in Paris, in return for her\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2363,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/26\/euro-pressures-mount-necessary-for-eventual-resolution-credit-writedowns\/","url_meta":{"origin":1055,"position":5},"title":"Euro Pressures Mount&#8211;Necessary for Eventual Resolution | Credit Writedowns","author":"ColinTwiggs","date":"November 26, 2011","format":false,"excerpt":"Germany is using this crisis to tighten its hegemony in Europe. It needs to close the fiscal loopholes. Many have recognized that this was a necessary birth defect in EMU\u2013monetary union without fiscal union. A fiscal union\u2013where countries, especially those that struggle to adhere to the Stability and Growth rule,\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/1055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=1055"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/1055\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=1055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=1055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=1055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}