Merkel Doubted US Federal Reserve Policy in 2008 Financial Crisis

Featured Merkel Doubted US Federal Reserve Policy in 2008 Financial Crisis

A highly sensitive top secret National Security Agency (NSA) report on German Chancellor Angela Merkel’s views on the 2008 international financial crisis was among the latest cache of US intercepts released by WikiLeaks on Wednesday.

WASHINGTON (Sputnik) — The WikiLeaks files follow recent WikiLeaks revelations of Merkel’s discussions with former French president Nicolas Sarkozy on the Greek economic crisis, as well as her private conversations with a personal assistant and other top German ministers over several years.

They also follow the April 2015 revelations of Germany’s BND intelligence service spying on European citizens at the behest of the NSA.

“Merkel… zeroed in on impaired assets on bank balance sheets as a key concern, while also questioning the approach being taken by the US Federal Reserve.”

The document said that according to Merkel’s intercepted conversation, she privately expressed skepticism about totally relieving banks of their responsibility for the management of toxic assets.

“[T]he critical questions, in her view, are the pricing of those assets and how the owning banks and the governments involved are to share responsibility for them.”

According to the intercept, Merkel said she was determined that Germany would not have an “anonymous garbage bin” where such assets could be dumped.

Merkel wanted to see a quick reform and enlargement of the International Monetary Fund (IMF) with countries such as China being given more influence and responsibility, the document noted.


Leave a comment