From today’s Open Europe news summary:

A report by the Research Services of the German Bundestag has concluded that ECB involvement in a new write-down of Greek debt would constitute monetary state financing and thus be in breach of EU Treaties, reports Die Welt. Welt

Someone in Germany must take the lead in stopping the inflation monster that is the euro.  Perhaps the Bundestag will take the lead.  This latest statement coincides with a call last week by the Bundestag for the Bundesbank, the German central bank, to audit its gold reserves held in overseas vaults.  Patrick Barron