The trouble within.

Forget the unwashed hordes pouring into over our borders and into our train stations, Germany’s wise men say. Certainly don’t fret about what small island countries are demanding. No, start looking at those besuited bureaucrats in Frankfurt, if you’re looking for the real threat to German security.

The council criticised the policies of the ECB in unusually stark language, saying it was creating "significant risks to financial stability."

"If low interest rates remain in place in the coming years and the yield curve remains flat, then this would threaten the solvency of banks and life insurers in the medium term," the council noted in the report.

"The ECB is not taking the looming risks to financial stability into account in its monetary policy decision-making," the council added.

German economic advisers say ECB policy a threat to financial stability [Reuters]
Seeking Changes From E.U., David Cameron Outlines Conditions for Britain to Stay [NYT]
‘Brexit’ Wouldn’t Be Disaster for U.K., Says UBS Chairman [WSJ]