Lagarde is the head of the IMF. But she is too a French citizen. Angela Merkel is the chancellor of Germany and not surprisingly she is a German citizen.
Today the stakes are very very high.
Lagarde wants Germany to pay the bill and Merkel wants each country to pay its bill.
I accept that maybe the only real solution now is the one of Lagarde. If Spanish banks bailout is only related to Spain then Spain cannot sells its debt in the future and we head to disaster. On the other hand if Spanish banks receive direct money from Europe as Spain wants and Lagarde wants too then Spain could still sell its debt. But for this is necessary that Germany “pays the bill”. “To pay the bill” means that if money cannot be returned from Spanish banks it is Europe the one to lose. So Germans, as the greatest contributors, will the ones more affected.
So, who will win, Cristine or Angela? Angela or Cristine?
Strange as it may seem looking at their looks you can easily see what each one stands for!
Angela Merkel wears cheap clothes and she has little glamour. She looks as a hard working German house wife. Her looks are below what she may look like as the most powerful woman in Europe.
On the other hand Critine Lagarde likes to wear expensive beautiful clothes. She sends an image of power and luxury.
Which image I prefer? Well, I think the best would be a mix! For me Lagarde look is too exagerated. Too luxurious. On th eothe rhand Merkel look maybe is too a bit exagerated! Looking at her it is difficult to remember that Claudi Schiffer is German too!
I think that the best should be an agreement so that banks receive money directly from Europe but with the condition that Germans can buy Spanish banks in the future at an advantageous price or something.
The idea could be that Germany saves Spanish banks and Spanish state by accepting direct help to the banks but on condition that the banks, once in good shape, become German banks.
And when I say Germany I just mean the countries who put morey to warrant the return of money if Spain cannot pay.
My conclusion is that Germany must be compensated in some way. If Germany is obliged to do something against general opinion in Germany it will happen the same that has happened in Greece: inestability and the right and left extrems winning a lot of votes.
Or to say in other words, if Spanish banks are going to be directly saved by Europe then those banks should become European banks. Maybe they could become the first really European banks in Europe!