By Andrew R-Taylor
http://www.dw-world.de/dw/article/0,2144,3706285,00.html
Deutsche Welle Sunday ed. reports that the German government will follow Britain's example by partially nationalising the Banks. According to news reports Germany is preparing a bail-out that permits the re-capitalization of banks with cash injections of between 50 and 100 billion euros.
Today the IMF has warned the capitalist giants in the G-7 of the growing possibility of a global finance "Meltdown." German Banks will be given billions in exchange for ownership-shares in the institution. Furthermore Germany and France have vowed to unite Europe to lead it out of the Crisis.
I can't help but wonder what Walter Ulbricht and Erich Honecker would have to say about this ironical "turn-about-fair-play" of Capitalist collapse. Erich would surely feel that all bets were off until the fat capitalist lady sings, since he had promised: "Neither an ox nor a donkey is able to stop the progress of socialism." (A rhyming couplet in the original German: "Den Sozialismus in seinem Lauf hält weder Ochs noch Esel auf", Berlin, 7 October 1989)
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