Germany Grapples With its Role in the Needed Rescue of the Eurozone

“Germany should reflect quickly but deeply, and act,” Italian Prime Minister Mario Monti said late last week.

Few Germans, however, share that sense of urgency. With German unemployment at a 20-year low and falling, and the country’s economy continuing to grow despite the debt crisis, not many Germans see the crisis as a threat to their way of life.

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Posted in * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, Germany, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

4 comments on “Germany Grapples With its Role in the Needed Rescue of the Eurozone

  1. David Keller says:

    Interesting story for DDay. What the German armies could not do in 1944-45′ the German bankers are about to accomplish.

  2. Pageantmaster Ù† says:

    Well, you can see the Germans’ point. Since WWII they have been business orientated, trained their people, saved money rather than borrowing madly, in short been financially prudent. In the 90’s they took on a huge project in unification with East Germany, but they paid heavily for that with high taxes, and the financial millstone of an Eastern territory with rusty industry, an infrastructure in need of massive public works spending, and a working population with no work ethic.

    Now Mr Cameron and Mr Obama are getting cross with them because they won’t show ‘leadership’ by risking hyper inflation by printing money, won’t subsidise Southern Europe for its prolifligacy, and will hardly be encouraged by France which has just responded to the financial crisis by…….lowering the pensionable retirement age. You can see why the Germans may not be enthused by financing Greeks to retire at 50 and the French at 60.

    Silly old Germans for not showing any ‘leadership’.

  3. David Keller says:

    #2–I actually don’t disagree with the German point of view–just making an observation.

  4. Pageantmaster Ù† says:

    #3 I know – sorry if my comment appeared directed towards yours.