Tuesday, September 04, 2012
Germany's euro policy: destructive to others but beneficial for Germany in the short termDer Spiegel points out that one of the short-term benefits that Chancellor Angela "Frau Fritz" Merkel's European policies have produced is an advantage for German businesses in lower interest rates on their business loans compared to the eurozone countries now under Angie's austerity sentence. (Niedrige Zinsen. Deutsche Firmen profitieren von Euro-Krise 04.09.2012)
In theory, the European Central Bank (ECB) lending rate should provide more-or-less equal business lending rates throughout the eurozone, but it isn't working that way in practice. This is another way in which Germany is benefiting in the short term from policies that are wrecking the economies of other eurozone nations like Greece, Ireland, Italy, Portugal and Spain.
Tags: angela merkel, austerity economics, eu, euro, european union
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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