Thanks a billion Mr. Schaeuble!

The political multi-talent and career politician Schaeuble and his advisers (minions?) have given another dramatic example of how toxic the mix of interfering politicians and banking can be. After having managed to convince Commerzbank to keep its holdings of Greek bonds just a few months ago, the bank now has to pick up the bill for this misjudgement as a hair-cut to these bonds is now decreed - with Germany's Schaeuble playing a prominent role in this about-turn