Germany’s prudence is Europe’s poison – Telegraph (Jeremy Warner)
AMAZING!! How everyone wants to blame Germany! SORRY MATE – Germany put its house in order 10 years ago and is NOT obliged to pay for everyone else’s idiocy. We in Germany are ALSO ordinary people, not supermenschen. What WE have done YOU can do, but you need to start borrowing less, paying your taxes, studying and working harder and longer and retiring later. WE do not expect anyone ELSE to bail us out and therefore SO SHOULD YOU NOT.
“The spending cuts planned in Berlin by finance minister Wolfgang Schäuble to balance the budget a year early will make it impossible for others to grow.”
TOUGH. So they don’t grow. Let the economies stagnate for a bit; they are still FAR above the level of billions of people in the world. There is NO easy answer to this problem of decades of binge borrowing by moronic politicians (see France -> NO BALANCED BUDGET since 1994). If you abandon “Germany’s” remedy, you borrow even MORE, which will lead to hyperinflation and massive civil unrest.
If you want to do a Greece, Italy, Spain or Portugal, Jeremy, I suggest you go there and do it and leave us in Germany alone. We DO NOT WANT more inflation thank you.
“it would be hard to think of a country in ruder economic health than Germany. Buoyant exports combine with record-low levels of unemployment to produce something close to a model economy. Furthermore, it’s the only major advanced economy expected to see some fall, as a percentage of GDP, in gross national indebtedness this year.”