German Of The Day: Albtraum

That means nightmare. You know, like Nightmare on Elm Street? Or Nightmare at Deutsche Bank?

Deutsche Bank

Read my lips, the usual suspects are saying: Everything is fine, the German government is not preparing a bailout, there have been no secret talks with the chancellor and there is nothing here that needs to be rescued in the first place. Now say that ten times really fast.

The German government denied it was working on a rescue of Deutsche Bank as Germany’s biggest lender boosted its balance sheet by selling its British insurance business on Wednesday.

Deutsche is facing a $14 billion fine from the Department of Justice, and concerns over its funding pushed its shares to a record low on Tuesday and heightened concerns about the health of the financial sector in Europe’s largest economy.

“Die Situation des Konzerns ist viel besser, als sie von außen wahrgenommen wird.”

We’re Helping Greece To Help Ourselves

It’s undeniable that Germany has great interest in helping Greece. Why just look at the great interest they’re getting back by doing so.

Despite all the perpetual bitching and moaning about having to foot the bailout bill for their bankrupt buddies in the bottomless pit, German tax payers raked in some 380 million euros on Greek aid interest payments in 2011 and are likely to pull in a whole lot more this year. It’s good to be the king, I mean lender.

Geez. With generosity like this, who needs extortion?

Im Rahmen des ersten Griechenland-Hilfspakets hat die Bundesrepublik dem Euro-Partner Darlehen von insgesamt 15,17 Milliarden Euro gewährt, um das Land vor der Pleite zu retten. Der Zinssatz habe zwischen 3,423 und 4,528 Prozent gelegen.