Seeking Alpha

"Money alone or bailouts... or monetary policy at the ECB will never resolve the problem,"...

"Money alone or bailouts... or monetary policy at the ECB will never resolve the problem," outspoken finmin Schauble tells German TV. While Italy and Spain are "making great reform efforts," Greece isn't trying hard enough, he says. And Obama's calls for intervention? He "should focus on reducing the American deficit."
Comments (15)
  • Wyatt Junker
    , contributor
    Comments (4501) | Send Message
    Yes he should. Yes he should.


    Will he?


    Of course not.
    24 Jun 2012, 04:38 PM Reply Like
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
    Greece has no incentive to try harder because enablers keep giving them free money. Once the drug stops flowing in, the addict will scream and shout as he is slowly weaned off his addiction.
    24 Jun 2012, 04:52 PM Reply Like
  • winningtrader
    , contributor
    Comments (2465) | Send Message
    Why slowly? If the rest of Europe stops giving Greece money, which they should stop immediately, the addiction will go away fast ... no need to go slowly.
    25 Jun 2012, 04:49 AM Reply Like
  • Aristiphones
    , contributor
    Comments (1325) | Send Message
    Your thank you for all those American Panzer Divisions protecting you is duly noted Herr Schauble.
    24 Jun 2012, 05:10 PM Reply Like
  • TruffelPig
    , contributor
    Comments (4079) | Send Message
    ?? Wasn't the US always protecting their own interests?
    24 Jun 2012, 07:55 PM Reply Like
  • winningtrader
    , contributor
    Comments (2465) | Send Message
    Europe has refused to pay for its own defense. They prefer to pay for Greeks retiring at 50. The whole thing is totally insane.
    25 Jun 2012, 04:51 AM Reply Like
  • minecanary
    , contributor
    Comments (752) | Send Message
    The problem is, even if Obama is re-elected, he won't see it as a chance to make a bold move on correcting our finances. The idiot will take it as a mandate to spend even more. The Republicans are constantly trying to show they are even more inept then the Dems. Buy bullion, bitchez.
    24 Jun 2012, 05:17 PM Reply Like
  • American in Paris
    , contributor
    Comments (5494) | Send Message
    Your memory is a bit weak ... Obama offered a package that was three quarters spending cuts and one quarter tax increases. Republicans turned him down.


    I guess that is what the Republicans call compromise ....
    24 Jun 2012, 11:20 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9964) | Send Message
    Doesn't look the Germans are backing down at all in terms of being the credit guarantor or bailout gift agent for Greece or the rest of the EU either. Can't blame them for that.... nobody wants to be on the hook for everybody else and their debts.
    24 Jun 2012, 06:07 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2829) | Send Message
    German holds all the cards, and they know it. They'll get what they want, which is more power shifting from national governments to Brussels. I think they'll trade a stimulus package for a common banking system and regulation, and likely in a few years trade Eurobonds for the rest of Europe's fiscal powers. What does Greece want fiscal powers for anyway? They cant effectively collect taxes, and all their spending over the last decade hasnt gotten them much.
    24 Jun 2012, 07:06 PM Reply Like
  • assetman07
    , contributor
    Comments (71) | Send Message
    If Germany really held all the cards, they'd shift power to Berlin, not Brussels.
    24 Jun 2012, 08:45 PM Reply Like
  • EMS
    , contributor
    Comments (586) | Send Message
    A rational banker, can't believe I just said that. This is bad news for the permabulls and the suckers late to the party.
    24 Jun 2012, 06:37 PM Reply Like
  • FWS
    , contributor
    Comments (136) | Send Message
    Schauble is right on the money. The "System" of deficit spending is the issue. Crony capitalism in our own country by corrupt politicians is starting to take it's toll on us. Look out below.....
    24 Jun 2012, 07:46 PM Reply Like
  • markjones12
    , contributor
    Comments (24) | Send Message
    The fact that Obama calls for intervention shows how naive he is when it comes to economics, currencies, and investment. Perhaps Schauble should advise Obama's team.
    24 Jun 2012, 08:46 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
    Bravo ! Oh when you tell the truth the QE junkies get in a tiff !
    German PM yes ! Obama NO !


    Keep pushing easing junkies and we'll see Dmarks and Euro becomes wall paper ! CDS's get triggered and US banks need 500 TARPS........... weeeeeeeeee
    24 Jun 2012, 11:21 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs