While it maybe for the sheer spectacle of amusing the public, opinions and beliefs are extremely difficult to change after the fact.
I suppose that along with buying European investment in America might also be limited, so that economic fallout will go way beyond buying American goods. All at time when exports need all the help they can get.
By Tyler Durden
10 July 2014
Update: it just got worse. Moments ago Bloomberg followed up with the second, and expected, part of this story, namely that just like China cut off major US corporations from big procurement contracts leading to a collapse in CSCO and IBM Asian revenues, it is now Germany's turn. Per Bloomberg, the German Interior Ministry reviewing rules for awarding govt contracts for computer, communications equipment and services as political rift w/ U.S. widens, people familiar with matter told Bloomberg News’ Cornelius Rahn, Amy Thomson.
- Ministry will probably issue new purchasing guidelines in coming weeks to replace “no-spy-order” dated April 30
- Details being worked out, may require suppliers of components of bidder’s goods or services to guarantee they don’t hand over confidential data
- IBM, CSCO, MSFT may be affected by any tightening of procurement procedures: Forrester Research analyst Andrew Rose
Congratulations America: after severing ties with Russia, crushing cordial relations with China (leading to this stunning announcement by China's president), alienating France (which is now openly calling for an end to the petrodollar), the Obama administration - following not one, not two, but three spying scandals in just the past year - has managed to sour relations with Germany to a point where one wonders just who is a remaining US ally in Europe these days.