Germany Will Make Concessions to Protect the Euro

European Central Bank (Photo credit: Travel Aficionado)

Germany Will Make Concessions to Prot... German Chancellor Angela Merkel will probably give in to calls from European partners for more growth measures and a more active role for the European Central Bank in protecting the financial system, according to Pioneer Investments Group Chief Investment Officer Giordano Lombardo. “At the end, Germany will accept more macro coordination,

more inflationary policies when the other countries are deflating and a more active role of the ECB in protecting banking systems of solvent countries,” Lombardo said in an interview on June 1 from Milan, where he oversees about $195 billion of investments globally.

Spain’s banking crisis and concern Greece may exit the euro reignited Europe’s debt crisis after the European Central Bank earlier this year calmed markets with its long-term lending program. President Barack Obama last week blamed European leaders for slowing U.S. job gains, saying they haven’t done enough to resolve the crisis, now in its third year.... Continue to read.

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