Much has been made of Merkel's difficulties in financing EU bailouts, with the intervention of the German constitutional court. Ambrose Evans-Pritchard has been hot on the case, reporting how the court is blocking further moves to surrender fiscal powers to the EU, on the back of a judgement in early September.

However, very much in the character of a mountain meeting an immovable object, there was a whisper, mid-month that Merkel was looking to overhaul the German constitution, with a view to emasculating the powers of the constitutional court.

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2013?

Won't Merkel be 'history' by then anyway?

We should all be thankful, that the legal 'wheels' of the new Germany [intentionally made thus], ain't as fast as Sarko' and Barroso would like them to go.

Dunno what to make of this.....if the Constitution can be sidelined legally then it may well happen, even if it is barely legal....that is how the EU has operated forever, so why change.

The result will be the same, ie German costs of funding will rise fast and get downgraded and it too will go bust eventually.

Seems the latest ploy in the mkts, is to flood them with liquidity, as one or more banks were in big trouble. which is highly inflationary. Add a possible German capitulation in and it's hyperinflation time, if it happens..... .welcome to Zimbabwe economics. The German people will just love that....as for the hard money men, they won't go down without a huge fight. Any politician that sanctions the above can kiss their career goodbye. So I doubt it will happen.

The timescale shows they simply don't understand the nature of the problem.
Finding a cure for your cancer is great, unless you are being eaten by a crocodile.

Yes ... you are right ... a small thing like a general election! Unless the commission decides to re-appoint her!

Slow-motion crocodile?

The failure of fiat money, Ron Paul's comment to US Fed EU bailouts
http://www.zerohedge.com/news/ron-paul- ... out-europe

We need real money.

What this tells us is that it is indeed the Constitutional Courts that are holding the line not Merkel who would have sold Germany out long ago had she had the opportunity.

I agree it is her fantasy, not her option. Nero fiddled, Merkel dreams.

I am thick I know, but why would the devil's spawn (Merkel) opt for Article 146, if she's got Article 23 at her disposal.

And of course, as you hint Richard, there is always the old election bypass strategy, as invoked in the UK, Greece and Italy.

As presented here, I cannot see any reason why the criminal classes in Germany, would opt for anything as unpredictable as a referendum.

Someone correct me if I'm wrong, but wasn't Herr Hitler a dab hand at amending German constitutions?

B.

Using referendums ....

http://en.wikipedia.org/wiki/German_ele ... ndum,_1938

99.1 percent "yes" - a fine example of democracy?