Daily commentary: on gold-backed European Maastricht compliant sinking fund

This is a belated commentary for Friday. I have a lot of links on the global growth slowdown today but I covered this earlier saying Weak global economic data signal likelihood of global recession. I wanted to highlight Marshall Auerback's post on gold remonetisation as he picked up on a theme about what the SPD and Greens are saying in Germany I discussed last week in "Germany: Merkel faces domestic political hurdles on fiscal pact". Specifically, it's the Maastricht-compliant carve out I discussed that the SPD and Greens are pushing in order for Merkel to get a Bundesrat sign off on the fiscal compact.

Marshall's post was a bit more specific than the information I had at the time of my writing. Here's what I said last week:

Maastricht compliant carve out. The Green pa...


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