Schäuble adds to Brexit Angst

The new “Spiegel”-cover was meant to bolster the remain camp in UK’s upcoming EU referendum. Instead, due to an interview with German finance minister Schäuble,  the Brexit Angst gets bigger.

In an interview with the “Spiegel” quoted by the “Guardian”, the man who wanted to kick Greece out of the Euro is now threatening the UK: There will be no single market access after Brexit, he says:

If the majority in Britain opts for Brexit, that would be a decision against the single market. In is in. Out is out. One has to respect the sovereignty of the British people.

With these harsh remarks, Schäuble is adding to the Brexit Angst that has taken the markets into turmoil on Friday. Here is another quote, from the “FT”, this time:

“UK political risk has become the biggest deal in global financial markets,” strategists with Citi said.

As always, Schäuble seems to be completely unaware of the slump in the markets – or, even worse, he could be playing with it. The German Bund is a safe haven, isn’t it?

And again, the “Spiegel” helps to spread German-style “Vertrauen” (Confidence). Remember the Grexit-debate last year? It was the magazine from Hamburg that started the German “out”-campaign…