EXTERNAL EXPANSION LIMITED

EXTERNAL EXPANSION LIMITED
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Showing posts with label reverse the austerity Germany. Show all posts
Showing posts with label reverse the austerity Germany. Show all posts

Wednesday 19 November 2014

Why #Europe needs to reverse the austerity #Germany has championed


Opinion: ‘Not only was Ireland bullied by the ECB into entering a programme, but a large chunk of the received funds was transferred straight to the financial sector and foreign creditors (including various German banks)’

Then taoiseach Brian Cowen and Brian Lenihan, minister for finance, making a statement following the Cabinet meeting regarding the  financial bailout in 2010.  Photographer: Dara Mac Dónaill / THE IRISH TIMES
Then taoiseach Brian Cowen and Brian Lenihan, minister for finance, making a statement following the Cabinet meeting regarding the financial bailout in 2010. Photographer: Dara Mac Dónaill / THE IRISH TIMES


Germany, written off as the “sick man of Europe” when the euro was launched in 1999, is today considered by most – first and foremost by the Germans themselves – to be the continent’s most successful economy and a model for other countries to follow. But this is a dangerous misconception. As Matt O’Brien recently wrote in the Washington Post: “It doesn’t seem like it, but Germany is still the sick man of Europe. It’s just that everybody else is terminally ill now"... (Read more)

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