The only thing I can think of is deep-seated resentment and again, the signs of a market getting ready to enter stage 4 decline are as I have posted well over a week ago and confirmed by several well respected analysts since then that I have posted, lack of trust between interconnected parties. If this doesn't fit the bill, then I don't know what does.
This from Reuters an hour or so ago...
Juncker says German debt cause for concern
Eurogroup head Jean-Claude Juncker was quoted in a German newspaper on Wednesday saying that Germany's debt level is worrying and even higher than Spain's.
In an interview to appear in Thursday's General-Anzeiger newspaper in Bonn, Juncker also said it would be a disastrous scenario if Greece were to exit the euro zone.
"I consider the level of German debts to be a cause for concern," Juncker said.
"Germany has higher debts than Spain," he added. "The only thing is that here (in Germany) no one wants to know about that."
Juncker said Greece was on the right path. But if it were to leave the euro zone it would lead to a "disastrous scenario".
Being that Germany is the key to any form of salvation for the EU, whether it be agreeing to let the ECB monetize debt, which the German Constitutional Court has already ruled against, or for Germany to lend its support in whatever fashion, even if it is simply Merkel making supportive statements, it is another one of those astounding surprises that Junker would come out and "Junk" Germany in such a condescending and provocative way.
The parts that I have put in bold, to me at least, indicate that German plans to ditch EU countries and possibly the EU altogether may be far more advanced then even what I already suspect is pretty far advanced. Clearly Juncker is referring to German plans already voted on and approved by Merkel's CDU ruling party to give the boot to nations in the monetary union, whether the actual language is "forced" or "voluntary" is a matter of semantics and completely irrelevant as I pointed out yesterday, Germany can make life so intolerable inside the EU for any country it chooses that a voluntary withdrawal would be inevitable.
It's a short article, read it, let it sink in and tell me that it doesn't seem like Junker who obviously does not want any changes to the EU, is panicking at what have been weekly intensifications of German planning to due exactly what he calls a, "Disastrous scenario"!
By the way, it may indeed save Germany, rather then be the next to follow in the footsteps of France, albeit an early stage for France, we see where this is leading as contagion has now hit the core, but I agree it would send the rest of the EU into a deep and prolonged recession/depression as somewhere around 11 countries would eventually be forced to default and cause an economic shock to world markets such as we have never seen, so much for the new world order.
Still, to say that Germany is worse off then Spain, even if that could possibly be conceived as partially true and then to say the Geman's in effect just want to bury their heads in the sand over the issue, is more then provocative and I would expect relations to fall apart more rapidly then we can even imagine and retaliations to from Germany to be fierce.
The fact that Junker showed so little consideration in making such a statement must reflect how desperate things are behind the scenes.
Oh, and if you didn't notice Sigma X's most actively traded issues yesterday, there was not only England's Barclay's which I have singled out repeatedly recently, but more surprising, Germany's own Commerzbank (Barclay's 6th most actively traded issue and down 1.6% / Commerzbank 10th most actively traded issue and down -2.65%)
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