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Friday, November 18, 2011

Germany becoming the new old villain in Europe?


The Irish government has complained to European partners after confidential budget information shared with its EU-IMF lenders was leaked by German lawmakers, sparking a political storm at home.
The media and opposition reacted furiously at the fact that the details of the December budget were presented to German lawmakers before their Irish counterparts, heightening fears that its EU-IMF bailout has undermined Irish sovereignty.
"Germany is our new master," ran a banner front-page headline in the Irish Daily Mirror. Opposition leaders in parliament described the leaks as "incredible" and "unprecedented" and demanded the government explain.
New German laws give its parliament the right to be fully informed about bailout countries' progress before new trenches of funds are paid out and Ireland's main opposition party led cries Germany was now calling the shots in Europe..... (emphasis added)
Read the rest at Reuters
by Conor Humphries
(h/t Zero Hedge)

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