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German Ecomony Minister “doubtful” whether Greece will remain part of Euro area

German Minister for Economics and Technology Phillip Roesler expressed his doubt regarding if Greece even be capable to conduct a proper austerity program.

As crisis worsens, surprise visit by Spain’s de Guindos to Berlin

Spain’s Economy Minister Luis de Guindos announced in front of the Spanish Parliament, Spain would not need a complete bailout or rescue package. Despite this optimism it has now been announced that he is flying to Berlin tomorrow.

Although Italy's Mario Monti is pushing hard, Angela Merkel does not want to give in on German key objectives for Europe such as stability and accountability. (Photo: consilium)

Merkel says European banking union is a future task, not to happen soon

German Chancellor Angela Merkel is not willing to move ahead quickly with allowing direct aid for European banks from either EFSF or ESM. Instead, she confirmed that every state will have to guarantee for its banks. This will lead to higher deficits in states where banks need to apply for money from the bailout funds.

Economic professor Huelsmann warns debt crisis might turn into hyperinflation

Guido Huelsmann, professor for economics at the University of Angers, France, is convinced that the Euro will lose greatly on his value through and this will finally lead to the break-up of the common currency in the Euro zone.

The German constitutional court held a hearing over whether the ESM is conflicting the German constitution.

German constitutional court shys away from ruling over ESM

The German constitutional court did not come up with a ruling over the question whether the European Stability Mechanism (ESM) conflicts with the German constitution. The hearing held in Karlsruhe showed the judges being overwhelmed by the complexity of legal challenges created by hasty decisions by leaders from the Euro zone.

Peter Keitel. (Photo: BDI)

Keitel says German industry remains in favour of Euro

Peter Keitel, president of the German Industry Association (BDI) expects the Euro to be here to stay. He sees significantly more benefits that downside for the common currency, outlining the particular advantages German exporters have trough the monetray union.