Axel Weber, former German central banker, has just confirmed in a talk that the crisis is being used and needs to worsen, in order to gain public support for extreme measures.
As the Eurozone debt crisis threatens banks and potentially the global economy, Axel Weber said he "fears" financial conditions will have to deteriorate more in Europe before leaders can take "drastic action."
Speaking at the Chicago Council of Global Affairs Thursday evening, Weber said policy makers need the political cover of an emergency to take action. Things have to get worse before they get better," he said. "If you act swiftly in the middle of a crisis people" appreciate the need for urgent action.
Action such as giving up fiscal sovereignty of the Eurozone to 'superior' German control?
For more on German press manipulation and 'spooking' of markets, read Is Germany Purposely Spooking Markets?