Tuesday, November 15, 2011

Germany Has A Solution To The Euro Crisis It Created-- Continental Enslavement

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German territorial ambitions that led to World War I and World War II didn't work out that well for Germany-- at least not in the short run. But now Germany is back in full force-- and again demanding domination of the continent. How smart does that U.K. look now for having kept its distance?

In the last few days Germany has toppled elected governments-- bloodlessly of course-- in Greece and Italy and installed pawns who will carry out its policies and agenda. Germany's choice to head the Spanish government, right-wing extremist Mariano Rajoy, is about to be swept into power by an electorate dismayed with a faux-Socialist Workers Party that played footsie with German economic and fiscal demands (Austerity) for close to a decade-- and brought the country to the brink of bankruptcy. Germany-- and its French puppet government-- is demanding "closer political ties and tighter budget rules." Translation: German domination and Austerity.
Speaking to her Christian Democratic Union party’s annual congress in the eastern German city of Leipzig today, Merkel said leaders must create a “new Europe” by completing a “political union.” At the same time, she repeated Germany’s rejection of jointly sold euro bonds.

Merkel’s address marks an escalation in her rhetoric as the debt crisis that began in Greece in October 2009 sent Italian and Spanish borrowing costs to euro-era records and roiled French markets. After leadership changes in Italy and Greece, the chancellor is turning her attention to shaping the euro and the EU’s future.

“Big political changes are now sweeping through the euro zone, putting-- at least for now-- the many skeptical political observers to shame,” said Erik Nielsen, chief global economist at UniCredit SpA in London. In Italy, Greece and Spain, which holds elections on Nov. 20, “people want ‘more Europe,’ not less.”

Here's a right-wing nationalist view from the U.K., paranoid, but not without basis:
When the euro was born, Germany set the terms. Interest rates were kept absurdly low to boost German exports.

For countries like Portugal, Italy, Greece and Spain-- the infamous PIGS-- that was like plonking a bottle of whisky in front of an alcoholic.

The inevitable property boom set warning bells clanging long before the 2008 crash.

The European Central Bank turned a blind eye. Germany's interests came first. Chancellor Angela Merkel complains today about feckless countries who live beyond their means.

Yet it was Germany-- and its French poodle-- who led the charge by breaking EU rules against crazy borrowing.

They could afford it. The PIGS just loved wallowing in other people's cash.

President Nicolas Sarkozy now says Greece should never have been admitted.

It was only included-- at French insistence, by the way-- because it was the birthplace of democracy.

But modern Greece has nothing in common with that noble age. It is just another corrupt and work-shy Balkan state.

Now it isn't even a democracy. Like Italy, it is a puppet EU state with Germany pulling the strings.

Germany rightly sees itself as a model of industry, prudence and of course, discipline-- a match for China and America.

It sees the rest of Europe-- apart from its cousins in Austria and perhaps Holland-- as idle welfare addicts.

If I recall, when a moderator tried bringing the Euro crisis up at the Republican "presidential" debate, one of the clowns ignored the question so he could emphasize that he supports torture.

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2 Comments:

At 2:22 PM, Anonymous John Evan Miller said...

It is definitely very interesting to see what is currently taking place in Germany. Who knows how all of the stuff going on over there will end.

 
At 5:05 PM, Anonymous Anonymous said...

Frankly, I must disagree with this assessment.

I must object to this article's over-the-top bashing of Germany, with language like "Continental Enslavement"---which frankly sounds like the hysterical screed of a jingoistic, right-wing U.K. tabloid.

Let's be clear about what Germany wants--it simply wants EU member states to be more fiscally responsible. After all, it isn't fair for the German taxpayer to be forced to pick up the tab for fiscally irresponsible EU states.

Secondly, let's be clear about what Germany DOESN'T want. It doesn't want to force a Reagan/Thatcher-like "f*ck-the-workers-and-the-unions" regime on the rest of the EU.

Yes, EU member states will need to tighten their belts somewhat. But let's be clear: workers will still enjoy strong labor protections that would be unheard of in America. Communist unions in Greece may complain. But I think most reasonable Europeans realize that there must be change.

Yes, Germany has a lot of clout in the EU. But that is only fair as Germany is by far the biggest economic force in the EU and it picks up a big chunk of the EU bill. No nation is forced to be part of the EU.

Incidentally, for such a supposedly terrible place that the Germans dominate, I find it interesting that other nations continue to push for EU membership.

re:
>>How smart does that U.K. look
>>now for having kept its distance?

Well, time will tell. But I've always thought it odd how the U.K. has this hysterical fear of German domination and yet happily submits to U.S. domination. I'd just be curious to know: what, exactly, has the U.K. gotten in recent decades in return for being a poodle of the U.S.? We saw a good example of this during the Blair years. Blair gave Bush everything he wanted, including the disastrous Iraq War, and he got absolutely nothing in return, (outside of the severe damaging of the Labour brand in the U.K.)

BTW, I hold no special brief for Germany, (although there is much in that nation I do admire).

Germany has dark sins in its past, of course. But for 65 years now, Germany has, on balance, been a force for good in the world. Its recent ambitious efforts in fighting Global Warming alone have made Germany a huge force for good in the world, (in what is the biggest crisis of our era).

In the long run, I believe the EU will sort out its fiscal mess. The problems are actually more political teething problems than they are fiscal problems. Indeed, I expect the Continent will be a superpower of the 21st century, along with China, as the U.S. continues to fade. I believe the U.S. is actually in worse shape than the EU. After all, the dollar is only being saved from collapse by the central banks of East Asia---an arrangement that is unsustainable.

 

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