This is a German Euro note. Taken together the Euro Zone is solvent. Everybody is pressing the Germans to allow the European Central Bank to issue Euro Bonds. Euro Bonds would equalise Euro Zone debt across all member states and therefore solve ( at least for the short term ) the Euro crisis at a stroke. Unfortunately the Germans have given it a no vote.
I am reminded of the other no votes in EU history. Denmark said no in 1992 and 2000. Ireland voted no in 2001. Swiss voters said no to even opening negotiations to join. Norway voted no in 1994. The later two votes were accepted by their governments but the hapless Danish and Irish governments were pressured to put the question again until electorates gave the right answer! When the stressed Greek PM suggested a vote on austerity there was outrage in the EU and some say his downfall was engineered!
I wonder if the Germans will change their minds and vote yes to the pressure to allow the European Central Bank to give the right answer?
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