German economists protest against European banking scam

Protest call
German economists protest against european banking scam in writing with Protest letter.
The open letter from economists in the wording
5/7/2012 · 172 professors of economics contact with a protest calling on citizens and politicians. The recent decisions of the Summit € she met with great concern, the scientists write. The explanation in the text.
My fellow citizens,

the decisions which saw the Chancellor forced on the summit of the EU countries were wrong. We, economists and economists of the German-speaking countries see the step in the banking union, the collective liability for the debts of the banks of the Eurosystem does, with great concern. The bank debt is nearly three times as large as the national debt and in the five crisis countries in the region of several billion euros. The taxpayers, pensioners and savers of the countries of Europe may yet solid Vedas for the protection of this debt is not held liable, especially huge losses predicted from the inflationary financing of the economic bubble of the southern countries. Banks must be allowed to fail. If the debtor can not pay back, there is only one group who should bear the burden and may also: the creditors themselves, because they have deliberately taken the investment risk and only they have the necessary capacity.


The politicians may hope to limit the amounts of liability and prevent the abuse of a joint bank supervision can be. That they will succeed, but hardly as long as the debtor countries have the structural majority in the euro area. If countries agree to the sound of the pooling of liability for the bank debt in principle, they will be repeatedly exposed to pressures to increase the amounts of liability or to soften the requirements for liability cases. Strife and discord with neighbors are inevitable. Neither the euro nor the European idea as such, are saved by the extension of liability to the banks, will help instead of Wall Street, the City of London - and some investors in Germany - and a number of ailing domestic and foreign banks Now more to the detriment of the citizens of other countries that have little to do with all this, must conduct their business.
The socialization of debt does not solve the current problems permanently, it means that under the guise of solidarity subsidized certain creditor groups and economically central Investitonsentscheidungen distorted.


Please take these concerns before the Members of this constituency and our elected officials are supposed to know what dangers threaten our economy.

Hanns Abele (Vienna)
Werner Abelshauser (Bielefeld)
Klaus Adam (Mannheim)
Niels Anger Müller (Göttingen)
Thomas Apolte (Munster)
Lutz G. Arnold (Regensburg)
Ludwig von Auer (Trier)

Basseler Ulrich (Berlin)
Sascha Becker (Warwick)
Gerard J. van den Berg (Mannheim)
Annette Bergemann (Mannheim)
Peter Bernholz (Basel)
Norbert Berthold (Würzburg)
Thomas Beissinger (Hohenheim)
Biewen Martin (Tübingen)
Charles B. Blankart (Berlin)
Eckhart Bomsdorf (Cologne)
Michael Braulke (Osnabrück)
Friedrich Breyer (Konstanz)
Jeanette Brosig Koch (Duisburg-Essen)
Carsten Burhop (Cologne)

Volker Caspari (Darmstadt)
Dieter Cassel (Duisburg / Essen)
Norbert Christopeit (Bonn)

Deistler Manfred (Vienna)
Alexander Dilger (Munster)
Klaus Diller (Koblenz)
Juergen B. Donges (Cologne)
Axel Dreher (Heidelberg)
Hilmar Drygas (Cassel)

Jürgen Eichberger (Heidelberg)
Patrick Eichenberger (train)
Peter Egger (Zurich)
Wolfgang Eggert (Freiburg)
Mathias Erlei (Clausthal-Zellerfeld)

Hans Fehr (Würzburg)
Stefan Felder (Basel)
Cay Folkers (Bochum)
Reto Föllmi (St. Gallen)
Andreas Freytag (Jena)
Jan Franke-Viebach (Siegen)
Michael Fritsch (Jena)
Markus Frölich (Mannheim)
Wilfried Fuhrmann (Potsdam)
Michael Funke (Hamburg)

Werner Gaab (Bochum)
Gerhard Gehrig (Frankfurt)
Egon Görgens (Bayreuth)
Volker Grossmann (Fribourg / Switzerland)
Joachim Grammig (Tübingen)
Wolf-Heimo greaves (Würzburg)
Thomas Gries (Paderborn)
Josef Gruber (Hagen)
Erich Gundlach (Hamburg)

Hendrik Hakenes (Bonn)
Gerd Hansen (Kiel)
Andreas Haufler (Munich)
Harry Main (Bielefeld)
Nicholas Hautsch (Berlin)
Burkard Heer (Augsburg)
Arne Heise (Hamburg)
Christoph Helberger (Berlin)
Florian Heiss (Mainz)
Thomas Herring (Hagen)
Carsten Herrmann-Pillath (Frankfurt)
Matthias Hertweck (Constance)
Helmut Herwartz (Kiel)
Hans Hirth (Berlin)
Hoderlein Stefan (Boston)
Andreas Hoffmann (Leipzig)
Stefan Homburg (Hanover)



Jürgen Jerger (Regensburg)
Uwe Jirjahn (Trier)

Leo Kaas (Mannheim)
Alexander Karmann (Dresden)
Gebhard Kirchgässner (St. Gallen)
Oliver Kirchkamp (Jena)
Guy Kirsch (Freiburg / Switzerland)
Roland Kirstein (Magdeburg)
Kai Konrad (Berlin)
Walter Krämer (Dortmund)
Tim Krieger (Paderborn)
Hans-Martin Krolzig (Canterbury)
Jens Kruger (New York)
Joern Kruse (Hamburg)

Franz Peter Lang (Brunswick)
Bernd Lucke (Hamburg)
Helga Luckenbach (casting)
Helmut Lütkepohl (Berlin)

Ernst Maug (Mannheim)
Georg Meran (Berlin)
Dirk Meyer (Hamburg)
Georg Milbradt (Dresden)
Gertrude Moosmüller (Passau)
Karl Mosler (Cologne)
Georg Müller-Fürstenberg (Trier)
Marc-Andreas Muendler (San Diego)

Bernhard Neumärker (Freiburg)
Werner Neus (Tübingen)
Dirk Niepelt (Gerzensee)
Volker Nitsch (Darmstadt)

Peter Oberender (Bayreuth)
Walter Oberhofer (Regensburg)
Ingrid Ott (Karlsruhe)
Max Otte (Graz)

Wolfgang Paffenberger (Bremen)
Hans-Georg Petersen (Potsdam)
Dietmar Petzina (Bochum)
William Impaler (Hamburg)
Michael Pickhardt (Cottbus)
Winfried Meier Pohl (Constance)
Mattias Polborn (Urbana-Champain)
Olaf Posch (Aarhus)
Birger P. Priddat (Witten-Herdecke)

Bernd Raffelhüschen (Freiburg)
Olaf Rank (Freiburg)
Franko Reither (Hamburg)
Til Requate (Kiel)
Rudolf Richter (Saarbruecken)
Gerhard Rübel (Göttingen)
Ralf round (Siegen)

Dirk Sauerland (Witten-Herdecke)
Wolf Schäfer (Hamburg)
Malcolm Schauf (Food)
Bernard Scherer (London)
Jörg Schimmelpfennig (Bochum)
Burkhard C. Schipper (University of California)
Karl Schmedders (Zurich)
André Schmidt (Witten-Herdecke)
Gunther Schnabl (Leipzig)
Ronnie Schoeb (Berlin)
Klaus Schöler (Potsdam)
Siegfried G. Schoppe (Hamburg)
Matthias Graf von der Schulenburg (Hanover)
Christian Seidl (Kiel)
Franz Seitz (willow)
Friedrich L. Sell (Neubiberg)
Gernot Sieg (Brunswick)
Hans-Werner Sinn (Munich)
Peter Spahn (Hohenheim)
George Town man (Frankfurt / Oder)
Joachim Starbatty (Tübingen)
Thomas Steger (Leipzig)
Martin Steinrücke (Greifswald)
Erich Streissler (Vienna)
Wolfgang Ströbele (Munster)
Hans Gerhard straws (Oppenheimer)

Tymon Tatur (Bonn)
Carmencita Cheung (Munster)
Stephen Thomsen (Hanover)
Karl-Heinz slayer (Frankfurt)
Stefan Traub (Bremen)
Siegfried Trautmann (Mainz)

Harald Uhlig (Chicago)

Stefan Voigt (Hamburg)

Andreas Wagener (Hanover)
Gerhard Wagenhals (Hohenheim)
Adolf Wagner (Tübingen / Leipzig)
Martin Wagner (Graz)
Klaus Waelde (Mainz)
Martin Wall Meier (Fribourg / Switzerland)
Gerhard Wegner (Erfurt)
Joachim Weimann (Magdeburg)
Thomas Wine (Luneburg)
Rafael Weissbach (Rostock)
Robert K. von Weizsäcker (Munich)
Frank Westermann (Osnabrück)
Hans Wielens (Munster)
Michael Wolf (Zurich)
Elmar Wolfstetter (Berlin)

Klaus F. Zimmermann (Bonn)
Achim zinc (Kalsruhe / Vienna)