Skip to comments.Eurozone economy dead in the water, with crisis expected to carry on 'a long time'
Posted on 07/24/2014 8:13:54 PM PDT by Lorianne
It's taken a long time, but the International Monetary Fund finally seems to be talking some sense about the beleaguered deficit economies of the eurozone. In a new analysis of continuing imbalances within the single currency area, it pretty much concludes that the situation is hopeless without the sort of eurozone-wide macro economic policies monetary as well as fiscal which are specifically rejected by the high command in Berlin. OK, so it doesn't quite say that, but even so, this will make deeply depressing reading for the struggling economies of Greece, Ireland, Italy, Portugal and Spain.
(Excerpt) Read more at blogs.telegraph.co.uk ...
It’s an artificially-engineered “beneficial crisis”. It’ll end suddenly when the elites want it to end.
Germany finally takes over Europe, by selling them stuff that they cant afford. Now they are Germany's slaves. And they didn't have to fire a single bullet.
‘You have been determined to qualify for a new Bank of .... credit card at the low interest rate of 20%. Enjoy your life now. Now will never happen again‘
Me no worky long time.
Greece, Ireland, Italy, Portugal and Spain...
You heard it here first!
“Germany finally takes over Europe, by selling them stuff that they cant afford. Now they are Germany’s slaves. And they didn’t have to fire a single bullet.”
This is one of the reasons that a lot of Russians were mighty darned unhappy about the Soviet Union giving up East Germany. And to think that most people thought that it would take 50-75 years for the Germans to recover from the decades of decay...! Well, given a comparison between today’s Germans versus the sad sacks of Western Europe, maybe the Germans were right about their position in Europe all along.
I have a German relative in Germany who I email occasionally, naturally she can read and write English.
I get the impression that they are very(relatively today) economically conservative, like many who lived through the great depression.
They save their pennies for a rainy day and don't expect government to make all their dreams happen, by killing jobs.
Of course, Germans snicker at the disaster that is the British National Health System (NHS).
The German parodox:
Socially, uber liberal.
Economically, uber conservative.
Much of that equipment isn’t found in German hospitals in Germany. Much of that equipment was developed in the US by German named firms, and is found in use in the US years before it trickles down.
Germany actually has a dualistic approach and there is a private health care in conjunction with a public one, you don’t have a complete single payer system as an many other places. This is a common error and it is presented as if Germany has an entirely state run system.
You’re dealing with a more homogenous society that has a lower corruption. What works and what doesnt also depends on the prevailing culture.
The EU needs to import more uneducated third world welfare cases. Apparently that’s the best thing for economic growth.
See post 11
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