The euro is in serious trouble with this Hypo Real Estate collapse. Germans remain completely in denial. The French get it, largely because their clever finance minister, Christine LaGarde, was educated at the University of Chicago and consequently understands something about markets. Sarkozy, to his credit, appears to be listening to her. The Germans are about to destroy EMU with their pigheadedness, and this will be the stuff of revolution, given that the German people were never consulted on abandoning the DM (if there had been a referendum, the euro would have never been accepted in Germany) and were forced to get rid of arguably the most successful post-war monetary institution, the Bundesbank. http://www.nakedcapitalism.com/2008/10/hypo-bank-rescue-fails-threatening.html
ALERT - Pressure was mounting on Gordon Brown tonight to put unlimited guarantees on British savings after Germany became the third European country to make the drastic move. http://www.dailymail.co.uk/news/article-1069132/Pressure-mounts-Brown-protect-ALL-bank-savings-Germany-promises-cast-iron-guarantee.html
