Is Germany Prepared To Cave On The Biggest Issue Facing The Euro?

Wolfgang Schaeuble

Photo: en.wikipedia.org

The biggest issue facing the Eurozone is the prospect of shared finances among states.Without some mechanism to permanently enjoin their sovereign treasuries, the monetary union can’t possibly work, and everyone figures that Germany is the key impediment to this outcome.

But maybe not?

According to Reuters, German finance minister Wolfgang Schaeuble told a German newspaper that the country would be open to talks on this issue. That’s further than anyone else in Germany has gone, and of course the country has sent out all kinds of mixed signals. Schaeuble also talked about political integration: “In 10 years we will have a structure that corresponds much stronger to what one describes as political union”

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