Ex-Bush Adviser: Germany Prints Old Currency in Case Euro Ditched

Ex-Bush Adviser: Germany Prints Old Currency in Case Euro Ditched: "Germany is printing deutsche marks in preparation to leave the euro common currency, says Philippa Malmgren, a former economics adviser to George W. Bush.

"My view is that it is Germany that will have to pull out of the euro," Malmgren said at an investors' conference in London recently, according to the Citywire news website.

"The decision has already been made by the government that leaving the euro is a possibility. I think they have already got the printing machines going and are bringing out the old deutsche marks they have left over from when the euro was introduced."

Malmgren, co-founder of Principalis Asset Management, acknowledged that leaving the euro would be a radical move that would cause Germany's export prices to jump, but said German industries are strong enough to handle price increases, Citywire reported"

'via Blog this'