Tripe & What Not

Deutsche Mark back in print?

Deutsche Mark back in print?
October 4th, 2011
Author: Richard Henley Davis

The Deutsche Mark may be back in print if a recent prediction by Dr Pippa Malmgren, President of Principalis Asset Management, is anything to go by.

On her website, Pippa predicted that there will be an announcement made by the Germans on the re-introduction of the Deutsche Mark, which she believes has already been ordered with the printing presses being told to “hurry up“.

This news will do little to please Angela Merkel, the German Chancellor, who is publicly saying we should not be talking negatively about the European financial crisis.

So, if Dr Malmgren’s prediction is correct, then one of two things can be deduced; firstly Merkel is keeping a very close secret or she is unaware of any provision or plan to re-introduce the Deutsche Mark, so I suppose the former is the more likely scenario.

Any reintroduction of the Deutsche Mark would of course mean abandoning the Euro and that would not be good news for the European Union seeing as the region’s golden goose, Germany, would now be laying free range, economic protectionist eggs.

It would spell the end of the EU experiment and the Euro, so to keep Germany on board there will need to be huge offer on the table to appease the German people.

Such an offer might involve carving up assets of the indebted PIIGS, but that is highly unlikely considering the level of public animosity towards  the European Union from these member states who are slowly beginning to realise the EU could hold them in debt slavery for years to come. Whereas in the case of Greece, a re-introduction of the Drachma and a hard, disorderly default is the only real option left.

Oh! By the way, it looks like anywhere between 50% and 70% (depending on which poll you go with) of Germans want to see the Deutsche Mark reintroduced.

However one must not forget the words of Jean-Claude Trichet, who is the president of the European Central Bank. Tritchet  spoke out back in September in an angry outburst against the  German supporters of a return to the Deutsche Mark saying:

“I would very much like to hear the congratulations for an institution that has delivered price stability in Germany for almost 13 years,”

…..and

“we decided very frequently not to do things that were recommended by various governments”

The man is clearly a lover of democracy *cough*, and they wonder why some journalists and commentators refer to the European Union as having a religious like observance by it’s proponents.

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6 Responses to “Deutsche Mark back in print?”

  1. Shablon says:

    The introduction of Euro was done on the insistence of the world bankers, whose desire it is to control ALL currencies of the world, and like fools germans dropped into their lap by accepting to be part of this scheme. Germany is the most prosperous country in Europe, it has a right to expand its industrial abilities in other countries, but it is held back by their obligations to world bankers. Tell them to go to hell, and Deutche mark will be currency of Europe.

  2. Schmitzkatz says:

    re Shablon,
    “Germany is the most prosperous country in Europe”. It is so because of the Euro.
    We Germans feel nostalgic about the Deutsche Mark. But we will not cut off our nose to spite our face.
    To all romantics out there:Alas,there will be no wiedersehen with our former hard currency.
    In the coming years,but a hard core Europe will remain consisting of Germany, the Netherlands, Austria, Luxembourg and perhaps a few others.
    A ‘new euro’-will be our saviour currency.

  3. Hi Schmitzkatz,

    It may be self preservation which pushes the reintroduction and not romanticism.

    Germany may have done rather well from the credit boom taking place in other Eurozone areas but now that credit boom is over it will have a reverse affect on the German economy.

    If Germany sentiment is so emotionally attached to the European Union that it is willing to go down with the rest of Europe then just because is may have benefited from an unsustainable credit expansion then the setting up of a new euro could be the way forward but not a favorable…..just in case one of the remaining new euro bedfellows is overly exposed to negative impacting debt.

    I doubt there is a bank in Europe which isn’t thanks to the good ole globalist banking system which is all intertwined.

  4. Schmitzkatz says:

    Hello,Richard Henley Davis,

    a two speed Europe is the only solution to the economic divide German taxpayers will not transfer their money to a United States of Europe. A core Europe that consists of the German powerhouse and comparable economies will be costly but not crackpot suicidal.

    The Euromeister are buying time to build a firewall to shield Italy ,Portugal and Spain and they are preparing
    to provide the banks with enough funds to avoid financial Armageddon.
    This accomplished we can say good riddance to the Euro and hello to a new (nothern)currency with no debt, the Neuro.

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  6. Georges says:

    Reintroduction of the D Mark would cause a massive devaluation of the euro as an immediate consequence and a massive rush on the DMark vs the US dollar and other key currencies. What then about the exports the German economy needs?