According to Friedrich Merz, the exclusion of Moscow “would break the backbone of the payment system.”
Merz warned against excluding Russia from the Swift system / photo: GLOBAL LOOK PRESS
Christian Democratic Union leader candidate Friedrich Merz, who is likely to become the new head of the party, warned against exclusion of Russia from the international banking payment system Swift.
He is quoted by Der Tagesspiegel .
“Denying access to Swift could be an atomic bomb for capital markets, as well as for relations between goods and services,” he said. “We have to leave Swift intact.”
“If something like this happened, I would see serious economic setbacks for our economies. It would hit Russia. But we will inflict significant damage on ourselves as a strong export country,” Merz warned.
He noted that he fears serious consequences not only for European-Russian trade in services and goods, but also for world trade.
“Swift is a system for processing international monetary transactions with goods and services. The exclusion of Moscow would essentially break the backbone of this international payment system,” he said.
Recall that earlier the head of the Russian bank “VTB” Andrey Kostin said that Russia will survive the disconnection from the SWIFT payment system in the event of a new aggression against Ukraine.
(C)UNIAN 2022
Despicable, loathsome bastard. Kraut kremkrappers are the norm, rather than anything unusual.
Interesting that RuSSia is whining less about SWIFT than Germany. Brutally telling!
No, they are scared that a rival payment system will emerge, normally not a big problem but SWIFT is a wealth of information for the intell. community, for example the US finds terrorists by tracking payment data through SWIFT, if a rival system emerges then the intell. agencies lose that ability.
No disconnection from Swift, no disconnecting from Nord Stream, no weapons to Ukraine. Just exactly what do the Krauts propose doing if their Russian buddies invade Ukraine, beat them back with broomsticks, or hot air?
They have made it very clear they are not willing to sacrifice any comfort whatsoever in the name of freedom, liberty or justice. Germany has always hated Ukraine. Perhaps because Ukrainians continually beat the Nazi football teams even under Nazi occupation.
This is Churchills first speech as PM. All we have now is, “dialogue is the only way, we need our gas.”
‘I have nothing to offer but blood, toil, tears and sweat’… Victory at all costs, victory in spite of all terror, victory however long and hard the road may be; for without victory there is no survival.
Our (US) military is superior to RuSSia’s. We don’t lack the strength, we lack the will.
Without a victory all democratic nations will suffer. You would think our leaders would understand what happens when you feed a bear…they come back for more.
“I foresee a massive economic downturn in our economies if something like this happens.”
The krauts are a pathetic people. I smell their fear all the way to here. It would be grand indeed if mafia land was to attack Germanystan. Then, they can really see a downturn in the markets. The markets would then matter as much as fly shit on dog shit. Money, money, money and more money … that’s all that matters to them.