⁂ European Central Bank capitulating in face of crisis

Two similar articles from newspapers on the political Right and Left forwarded for your information by Anthony Coughlan:
TELEGRAPH
Tuesday 24.2.09
ECB faces mutiny from national bank governors as recession deepens
- The European Central Bank is capitulating.
By Ambrose Evans-Pritchard
For months the ECB held sternly to the high ground of orthodoxy as the US, Japanese, British, Canadian, [...]

Daily Telegraph: Will Germany deliver on the Faustian bargain that created monetary union?

DAILY TELEGRAPH
Monday 23.2.08
If Der Spiegel is correct, the German finance ministry is drafting rescue plans to prevent default on the edges of the eurozone leading to a full-blown collapse of Europe’s monetary system.
By Ambrose Evans-Pritchard
This is an entirely appropriate policy in economic terms. One dreads to think what would happen if the world’s twin reserve [...]