Bloomberg summarizes today in an article what I have been writing about for weeks: the EU is trying to introduce so-called war bonds with the help of an artificially created Putin fear, which would later create a whole new level of debt financing for the European Union as a bridge to Eurobonds. You have to know the background of the history of the European Union to understand that this is a big deal. The European Union was launched with the promise that fiscal policy would remain a matter for the nation states and that no joint liability for bankrupt states would be accepted. The Maastricht rules are now history, Europe will be able to introduce a new level of massive debt and put the European taxpayer behind the planned bonds as collateral. Anyone who still believes that the eurozone is a safe haven for capital and money is in for a surprise!

Here a german banker reveals what it's all about: pushing more debt into saturated market: “The beauty of EU bonds is that the debt doesn’t appear in your national statistics, it doesn’t count toward Maastricht or the debt brake or anything like that,” said Moritz Kraemer, chief economist at German bank LBBW. “So in principle, you can get funding for whatever you think you need without having to incur the penalty.'