The Great Recession continues around the world: The Executive Commission of European Union orders the socialist Federal Republic of Germany to carry its loans to commercial banks WestLB AG and Hypo Real Estate as a part of its national debt. This will swell Germany’s Gross National Product to MD ratio from 79 to 90%. This is well above the 60% level mandated by the Masstricht Treaty, which created the EU.
[added 4/2/2021] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
In Stunning Decision, EU Orders Germany To Start Onboarding Bad Debt To Sovereign Balance Sheet RBS, Fannie, Freddie Next | zero hedge
www.zerohedge.com/article/stunning-decision-eu-begins-onboarding-bad-debt-sovereign-balance-sheet-rbs-fannie-freddie-n
German Debt To Skyrocket As EU Adds Bailed Out Banks To Its Balance Sheet
www.businessinsider.com/the-eu-is-forcing-germany-to-consider-bailed-out-banks-as-part-of-government-debt-2010-8
Current U.s. National Debt:
