Thought of the day

Germany and France have agreed a common position on tackling the euro-zone debt crisis by pushing for a new EU treaty to enforce budget discipline through automatic sanctions. They plan to bring forward the permanent euro bailout mechanism to 2012 from 2013 -- and both remain opposed to euro bonds.(Source: Der Spiegel)

The Euro project was started and sold to the people because it was going to bring wealth and economic growth to the Euro area.

The people are now being taxed to the bone. Unemployment is soaring. The Euro area is in a recession. People are protesting due to the new austerity programs being proposed.

Let's thank the gods that the markets work and hopefully bring some sanity to the European bureaucrats.

They should let the markets work. Let the markets punish the countries with excessive debt. No bureaucratic rules can do the job of the markets.

More details in my The Peter Dag Portfolio , in Dag's Exclusive market Alert, and my free educational videos on http://www.peterdag.com/.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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