John Ward – Euroblown : As Spanish Rules Suddenly Apply, The Transfer Of Sovereignty Continues – 7 June 2012

Merkel’s mad desperation is more obvious by the day

As more and more of what’s left of European Sovereignty moves towards Berlin-am-Brussels, it’s increasingly clear that the rules are being made up as we go along.

Thus the word from Berlin this afternoon is that a deal is under the table allowing Spain to recapitalise its stricken banks with aid from its European partners – but avoid the embarrassment of having to adopt new economic reforms imposed from the outside, German officials say.

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