German Cabinet Approves Bank Nationalization Plans

German Cabinet Approves Bank Nationalization Plans

www.dw-world.de

Merkel has tried to portray the legislation as being fully in keeping with the German tradition of the "social market economy" -- a free-market system steered by the government for the citizenry's collective benefit.



But some in the political opposition reject those characterizations.



"Expropriation is socialism, not social market economy," the head of the opposition pro-business Free Democrats, Guido Westerwelle, told AFP news agency.

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Related News Links:
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My first post here on ATS.

I stumbled upon this piece of news and imediatelly thought: "What are the ATSers saying about this?"

To my surprise, I didn't find any related posts, so I decided to post to see what you guys think about this.

Seems to be the new trend nowadays. NATIONALIZE!!


If this has been posted already, please let me know.

www.dw-world.de
(visit the link for the full news article)