Jeffrey Sica
On June 3rd, 2009 German Chancellor, Angela Merkel, while addressing a crowd in Berlin, rebuked the European Central bank and counterparts in Britain for having gone too far in fighting the financial crisis, which may be laying the ground work for another major financial meltdown. Merkel said, “We must return together to an independent central bank policy and to a policy of reason, otherwise we will be in the same situation 10 years from now.” In other words, it was not the policy of the European Central bank or counterparts to “bail out” failing financial institutions or governments which acted recklessly with lending or borrowing money without justifiable means to repay. It was statements like these that earned Angela Merkel the title of the “Worlds Most Powerful Woman” by FORBES from 2006-2009.
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