February 9, 2012
Published: 11 Mar 10 15:42 CET
Online: http://www.thelocal.de/money/20100311-25823.html
The global financial crisis pushed Germany's public debt up 7.1 percent in 2009 to €1.7 trillion ($2.3 trillion), official data showed Thursday, the second sharpest rise since World War II.
AFP (news@thelocal.de)
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Your comments about this article:
If you understood "economics" and not unions, you would realize that Germany, unlike the US : ) cannt issue bonds to service the swelling of its public sector. If you read anywhere in Germany, cities are being forced to cut while 40% of the population enjoys Hartz IV. Ungloublisch! Westerwell, for all his flaws is good for Germany. This brings up this subject in a politcal debate i recently heard in the Bundestag of whats happening to the once precious, Sozialstadt!
Its over! You see, Germany cant issue enough future bunds to service its future public and social debt because they wont have the population to pay taxes to sevice this debt. You need a 2.11 fertility rate. Germany has a 1.3. In 20-25 yrs, Germany as you know is over. Unless the nationaist party returns, established Christ as a key member to the Govt and people start making kids. But I wouldnt expect something productive from the Germans, so lets abolish that thought.
This is not a recession in Germany. This is a depression and those lofty social benefits will go to Greece, Spain, etc to save the wonderfully and structurally sound Euro projekt. Unfortuanately, Europe is moving to a far right. Especially Germany. You think that chick in die linke with the green hair or whatever can win. Ha!
Look, Germany faces insurmountable and irreversible challenges like brain drain, xenophobia, export only, no consumerism, over regulation, bankrupt banking system, higher taxes, labor contract problems, union problems, etc, etc, etc. Europe is dying, Germany is dying, the social welfare state is DYING. It will not last this downturn. You will see riots in Germany as a TV show is coming in April how to deal with them.
Germans who are smart and hard working want out. Enjoy the EUSSR..
The most problimatic countries in europe are:greece,portugal, spain,italy ireland and uk.
If Europe is dying America is dead, buried and rotting! But you, "peschvogel" and your Republican, Fox News pals can't take off the rose glasses. What a "tool" you are!
1. Euro crisis
2. Banking Crisis - Basel 2
3. Sovereign Debt crisis (see #2)
4. Export crisis
5. No more Bismarkian welfare state
6. Infrastructure crisis - Koln, A5, etc.
7. Rating Agency crisis
And for Mr Sams who wittingly says "
The most problimatic countries in europe are:greece,portugal, spain,italy ireland and uk."
Well, then thats Germanys problems too because debt at these countries are held at German banks. Please revert to my list of #'s 1,2,3,7.
And yes, fact, Germany is dying...Fox News, Republican, are you joking me?
Have you seen our President? You Germans LOVED him in Berlin. He is helping Europe out so much. NOT! He is wise to stay away from the massive troubles of Europe....Gans genau!
Schade...
2. Banking Crisis - Basel 2 - Oh PLEASE the US banks invented this problem
3. Sovereign Debt crisis (see #2) - Oh gee don't know, ask the Chinese
4. Export crisis - The US manufactures NOTHING, the Germans still manufacture everything that counts. If the Chinese are exporting a few more of the poision products than the Germans are their high quality, hight tech items. Blame the dumb ass Americans for buying it.
5. No more Bismarkian welfare state - Too stupid to mention
6. Infrastructure crisis - Koln, A5, etc. - the whole US is falling apart PLEASE
7. Rating Agency crisis - ???? The "rating agencies" are all corrupt American ones that are giving fictious ratings to their American banking pals, better to purpetrate their fraud upon the rest of the world.