Actually you might be right.
The Bundesbank that didn't complain for years when monetary aggregates grew at 10%, now oppose to gov.bonds buying because of their "central banking orthodoxy". I'm really afraid that the german central bank doesn't what deflation is.
BTW, have you seen Belgium-Germany spread: 230 points.
Belgium has become a PIGS... so, PIIGSB ? PIBIGS ?
I'm waiting for France to join: 90 points
