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UK magazine: Merkel 'most dangerous leader'

The Local · 21 Jun 2012, 16:14

Published: 21 Jun 2012 16:14 GMT+02:00

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On the front cover of The New Statesman, Merkel is depicted as the Terminator with a prosthetic eye and leather jacket standing in front of a fuzzy apocalyptic scene.

It characterised her as a greater danger to global order and prosperity than Iranian President Mahmood Ahmadinejad, Israeli Prime Minister Binyamin Netanhyahu and North Korea’s Kim Jong-un.

Refusing to mince his words, New Statesman’s senior editor Mehdi Hasan wrote, “Merkel is the most dangerous German leader since Hitler.”

He said the eight chancellors before her had, “presided over a manufacturing miracle at home and the rehabilitation of Germany’s reputation abroad. Under Merkel, however, the country finds itself isolated once again, loathed and feared in equal measure.”

Although Hasan acknowledges that Merkel did not cause the financial crisis, he said, “her deficit fetishism and obsession with spending cuts are exacerbating the continent-wide debt-and-growth crises that threaten to upset more than six decades of pan-European unity and stability.”

She is fiddling while Athens – and Madrid and Rome – burn, he says, and suggests she seems relaxed at the rise of anti-austerity, neo-Nazi parties across the European Union.

The idea of Merkel standing up for hard-working Germans who are put-upon to bail out feckless southerners is nonsense, he says, quoting OECD figures which show Greek workers toil for more hours a year than those in any other EU country, and more than 40 percent longer than the average German.

And Merkel is facing opposition not only from Greeks but also Germans, who have handed her domestic state election defeats this year. “But Merkel won’t budge,” he wrote.

She views the economy like a household that cannot borrow or spend more than it earns, he says. But then he cites a 2010 study by the International Monetary Fund which looked at 170 examples across 15 advanced economies between 1980 and 2009. This found just two cases where government spending cuts led to economic expansion. “Fiscal consolidation typically has a contractionary effect on output,” the report concluded.

“Merkel’s insistence on fiscal self-flagellation, her unwillingness to countenance any fiscal stimulus by Germany or an easy-money policy by the European Central Bank, have pushed depressed countries such as Greece further into depression.”

And even though she recently said she might allow eurozone institutions to buy up debt of crisis-hit member countries is, he says, “too little, too late.”

He quotes US economist Robert Kuttner when he wrote of Merkel pursuing Germany’s narrow self interest because European suffering benefits the country by expanding exports and generating dirt-cheap money.

Story continues below…

Hasan concludes, “In denial and bent on austerity über alles, Merkel is destroying the European project, pauperising Germany’s neighbours and risking a new global depression.”

“She must be stopped,” he pleads.

A spokesman for the Chancellery told The Local on Thursday afternoon, “We do not comment on such matters.”

The Local/hc

The Local (news@thelocal.de)

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Your comments about this article

17:00 June 21, 2012 by abemarch
Germany bashing is nothing new. Fiscal responsibility is now viewed as something bad?

Greece lied to get admitted to the Euro Zone. Their problems are self-made.

The west wants to blame Europe for the international financial crisis, refusing to admit that it all started on Wall Street. Being criticized means you are doing something. I congratulate Merkel for her courage and for standing tough on fiscal responsibility.
17:13 June 21, 2012 by Edin
"It characterised her as a greater danger to global order and prosperity than..."

This is what is behind this whole reaction: fighting for the global order and prosperity, the main question being whose order and whose prosperity? For George Soros and all those fat ritch b.stards getting ritcher and ritcher at the stake of middle class which they totally destroyed?!

There is no single doubt in my mind that those hypocrits are aware that the monetary system of virtual money of today which they created, is going to collapse one day. With such actions to continue financig the growth with even more virtual money they are just buying more time until their fat ass needs to live.

There are many many things I dislike about Merkel, but she has my full support here. And we really do need her to be the Terminator... remember the second and third part... he was a good guy who saved the world!!!
17:14 June 21, 2012 by IchBinKönig
I love how the Left blames Wall Street, then wants to bail Bankers out at any cost.

Or in this case, blames Merkel for not bailing Banksters out fast enough, nor with enough money.
18:08 June 21, 2012 by reallybigdog
More crackpot journalism!

If you cant debt service then your bankrupt and that pretty much sums up the issue is around the world regarding the brink of default. If you have to pay all your bills with debt its game over if you cant asset liquidate your way out.

It appears that the UK is looking for every opportunity to criticize fiscal responsibility to the point that even other UK soccer publishing outfits like Goal.com are also using the same garbage to expel more untruths such as the Greece/Germany game this Friday as yet another example of stirring the pot against Germany.

Perhaps I guess
18:30 June 21, 2012 by smart2012
I do not want to comment on root causes (yes, all started in 2008) however I have to agree that merkel is a big danger for Europe stability. Germany could have come out as the great leader, however in the inflexible and stubborn way merkel led all of this it resulted in a disaster and Germany being seen almost as 60 years ago. Merkel is now isolated, we need to get rid of her ASAP, otherwise we risk a ww3.
19:00 June 21, 2012 by duckys
It is a bit funny, on how they blame Germany for all the problems in Europe. If you go to these other countries and just focus on there work ethics... No wonder why they need help...

I do not see how the Europe bail crisis is a Germany problem!?!?! This all started in 2008 and now still the ripples are being felt. I agree that this is just more crackpot journalism and another move for politicians to raise taxes in country that is rated for having high taxes in the first place...
19:15 June 21, 2012 by Peepopaapo
"Germany could have come out as the great leader..."

Germany is the great leader in Europe by now, for it is the continent's only economic super power left. As one journalist once stated the decision whether the Euro is allowed to survive is neither done in Brussels nor in Paris, but only in Berlin.

People like smart2012 seem to understand leading a continent as taking over the incompetent countries' debts and creating growth by doing more and more debts - the usual thing that socialists do when they are in power.
19:27 June 21, 2012 by smart2012
Being a leader means that people admire u and will support u all the time. This is the opposite which is happening in eu and even now in uk and USA. Germany is the biggest, but for merkel's fault not the leader. Btw, see latest data for Germany: the powerful engine u talk about is losing fuel ie demand from the rest of Europe...this again thanks to merkel. Keep voting her, actually tell her to exit eu, this would be the best for eu
19:31 June 21, 2012 by Bushdiver
I think smart 2012 watches too much tv. Even if the EU were to collapse I doubt that would start WWIII. What may start WWIII though is if they continue to just keep throwing more money into a bad situation. Europe was also functioning well during the Common Market days and before the Euro. There doesn't seem to be a big enough bandage to stop the bleeding here and for every half step forward there are always three steps backwards.
19:38 June 21, 2012 by Peepopaapo
Being a leader means that you do the right thing no matter how big the opposition is. That the British and U.S. Americans - whose economies are based on debts - don't like what she does is no big surprise to me. The demand has become less, but nevertheless the German economy is still doing better than the rest of Europe, because throughout the last couple of years German enterprises have more and more focused on the growing South American/Asian market.

Without Germany the European Union would be nothing - Germany is by far its biggest financial contributer.

The only reason why Europe is in such a big mess are the Pi(i)gs which used to live way beyond their means. Why should the Germans pay for their faults, but still be insulted by these incompetent peoples.
19:49 June 21, 2012 by Leo Strauss
`I need your clothes, your boots, your motorcycle, your savings, your toll highways, your casinos, your infrastructure, your pensions, your education, your healthcare, your sovereignty, your dignity, your obedience, your future, your first born, now.` :(
19:50 June 21, 2012 by smart2012
Peapoapoo, growth numbers are showing how good u r. Compare to turkey and then we can discuss. Keep reading bild... I talk about ww3 thx to people like u
20:06 June 21, 2012 by catjones
abemarch....'The west wants to blame Europe for the international financial crisis, refusing to admit that it all started on Wall Street.'

Wall street has basically recovered. If it was the root cause for the EU's woes, why didn't the rising tide float your boat? The EU's pre-2008 'prosperity' was a mirage. The foundation was and is flawed; everyone knows that. Until the Currency Union becomes a true union of equals, it will remain at the mercy of the financial markets and every fart will be reported here.
20:13 June 21, 2012 by Peepopaapo
@ smart2012: No, thanks, I detest the German Bild. Growth rates like the one of the Turkish economy are usual for economies which are not yet as highly developed as the German economy is. Do you really think that the Turkish or Chinese can keep up these high growth rates? As soon as their economies are fully developed they will be happy when the can reach rates about 1, 2 or 3%. Concering your last sentence I can only say dito.
20:17 June 21, 2012 by cambiste
Don't get too upset.TheNew Statesman sells less copies each week than the childrens magazine the Beano !
20:22 June 21, 2012 by Leo Strauss

King, you nailed it.
20:28 June 21, 2012 by PNWDev
Just have to love the Brit-Left. When it is cold, it is man-caused global warming. When it is warm, it is man-caused global warming, when it rains, man-caused global warming, and when it is snowing, it is man-caused global warming. Is there an answer the left does not own? And now they are focused on convincing you they are financial experts too and have the only solution to the debt-crisis and that is for Germany ­ and Germany only, to accept a disproportional risk deal because the left knows how to spend the German taxpayers money much better than the German taxpayers do.

Now why does the theme of risking and spending other people¦#39;s money sound so familiar? But the rest of us should not worry because when this train crashes, they will have an answer then too.


Your posts have become nothing other than politically-driven, talking-points. You blame everything on Merkel despite the fact she is not the cause for this crisis. This issue was coming to German soil regardless of the political persuasion of the Chancellor. You should be thankful that there is at least a little fiduciary discretion being exercised by the German leadership rather than just blindly caving in and mailing out checks without recourse. But you are typical of the left in that you call the cause the victim, and the effects the perpetrator.

(Being a leader means that people admire u and will support u all the time.)

I don¦#39;t know whether to cry or scream here. The only place the people support you all the time is in small, far-left circles.

(see latest data for Germany: the powerful engine u talk about is losing fuel ie demand from the rest of Europe...this again thanks to merkel)

The falling economic data is consistent with both the global and Eurozone slowdown. Neither of which Merkel had anything to do with.

You wanted Eurobonds, you wanted bailouts, and you will likely get them. And I am here to remind you all along the way at the disaster looming should Germany sign on to backstop Greek and Spanish debt. This topic will not go away, the bailouts only gave the debt-crisis badly needed fuel to live on and what will follow is yet another government-nurtured risk bubble. By the time the system has collapsed, you and I are going to be fishing buddies. And it is ok for you lefties to go fishing because fish do not scream when they are caught.
20:28 June 21, 2012 by Englishted
@abemarch....'The west wants to blame Europe for the international financial crisis, refusing to admit that it all started on Wall Street.'

I am living in Germany and strange as it may seem I think it is "the West " as in Western Europe .

It is also a oddity that people who live in other countries often rate leaders in other countries (e.g Thatcher,Gorbachev.) higher than people under those leaders ,so for the benefit of those of you not in Germany ,I believe and the polls agree the German may vote her and her party out of office next year .


It was dull and overcast today was that also the "Left" ?
21:07 June 21, 2012 by smart2012
Peapoapoo, I do not want to argue with u, but sorry, u cannot be blind and say Germany is great and the rest is crap. Germany recovered thanks to Europe and European demand. China represents 2% of German export. Germany and Europe are in the declining pick vs china and turkey (they r like Europe 40 years ago) that is why Europe has to react as a team. Merkel is not understanding it and is just blaming the others to hide the bigger problem Germany / eu have. That is why she is dangerous. And do not tell German model is good, retiring at 67, paying 42% of taxes and earning when retired 1000 euros a month is not a good system. Merkel has to change or go sorry

And Germans should start to consume more, not just semmel, butter and wurstel :)
21:10 June 21, 2012 by Leo Strauss
@PNWDev Your comments are all the more relevant as the Global Warming advocates are finally running up the white flag at Rio and admitting that it just isn`t going to happen despite all of the cooked up data, heavy weight liars, like `Al Gore` (`Allegory`, for the masses still down in the cave watching the shadow show), and propaganda. Of course, that won`t slow them down, they`ve just rebranded the madness as `Sustainable Development`. Time to give the dupes and useful idiots a new one page hand-out of slogans and talking points then its off they go again a la Animal Farm: `No, wait...two legs good..."

The main thing is that these crusaders enable the elites to get their hands on those carbon taxes, or whatever they`re going to be sold as. ;)

@Englishted I don`t buy into the whole Left-Right fake paradigm thing, but I do think that IBK has made a good point. Ideology aside, I think that one could agree that the Left´s position on this crisis is counter-intuitive. The question is, why are they taking this position? As I`ve said before, Green, Red, Black, Braun...it´s all flowing one way.

PS Forget Angie, she has almost completed her mission. Make room for the new Bilderberg T 1000: Steinbrück!
21:27 June 21, 2012 by siba
... this article is just British populism a la Bild. Bashing Germany has always been loved by the press there, no matter if politics are left or right.

Merkel is so overrated. Now there is the question if Greece should get more time to deal with regulating its debts. France is for it while Finland and the NL stongly offend it. The German government is undecided on this issue... The whole discussion is about the rich against the poor countries cause the rich have to pay... The focus is always on Germany but as here, Finland and the NL, and usually also Austria are very much in support of austerity measures. If Switzerland would be in, it would do the same...

smart2012: Germany's image has not really worsened in Europe, some even see it now as a kind of heal country where it is worth living. That is why it attracts more immigrants than ever before. Talking about WWWIII... this is so much out of context that I cannot comment on this.
22:32 June 21, 2012 by Kennneth Ingle
What a complete load of rubbish! There would be no world financial crisis were it not for the wars, in Iraq and Afghanistan, started by the USA and Britain. These armed conflicts have strained the economies of the whole democratic world so much, that no reserves are left to tackle other important problems.

One mistake Kohl, Merkel and Co., did make, was to take Germany into the Euro-zone without first making sure that all countries involved had the same tax, health-insurance , employment and social systems. Without such a basis, the common currency was bound to fail. A second was not to ask the Germans themselves, whether they even wanted such a change. With the old DM, the Euro crisis could never have happened.

Merkel may well have proved herself to be a total failure as leader of the German government, but is certainly not a greater danger to the world economy than Obama or the clowns running Britain.

Even with this year being a special one for England. With the Queen¦#39;s Jubilee and Olympic games, the great chance to put Britain on the map of special countries has been thrown away. For those of us returning home as tourists, it is amazing to see that 95% of the souvenirs, be they for European football, Olympic games, or for royal occasions, are produced in China. Under such circumstances it is not surprising that the economy in Britain cannot stand on its own feet. Nobody can blame Merkel for that! The only people she really endangers, are the workers and retired citizens of her own country.
00:56 June 22, 2012 by ebbelwoiguy
Smart2012: you sound like the opposite of your moniker. China accounted for nearly 6% of Germany's exports in 2011, not 2%. The entitlement state you dream about does not exist, and that is a good thing.

Do yourself a favour and stop believing in magic wands. As in "let's all start consuming more...Let's bankrupt ourselves on credit like the UK and the US..."
00:59 June 22, 2012 by catjones
Yep Kenneth, the Greeks were paying their taxes and there was no housing bubble in Spain and Ireland. Europe was as balanced as the Italian books and all was well. The world's leaders are trying to change the tires on a running car and you and others were not consulted on the solutions so you sit on the curb complaining; cursing the darkness.
02:47 June 22, 2012 by wood artist
Like everything in life, this isn't all that clear cut. However, that said, I'm pretty much a Paul Krugman Keynesian type. I don't agree with everything he's said, but his analysis of the numbers is pretty clear: Europe isn't going to get better quicker by continuing the austerity movement.

A simple example demonstrates what happens. How it started matters, but only to a degree.

Times are bad, so a government must decide what to do. They can spend more...i.e. "stimulus" and risk increased their debt and potentially some inflation, or...they can spend less in an attempt to cut their debt. Both are potentially "bad responses."

However, here's what really happens. Government slows spending. That means less money going into circulation, fewer jobs being created, directly or indirectly, by government (or contracted) work. Fewer jobs means both higher unemployment AND lower tax revenue...since people can't spend what they can't make while not working.

So...we have lower revenue available to pay down the debt. At the same time, we also have higher government expenditures for social programs...such as unemployment insurance payments, etc. The cost savings for the government through lower spending are offset by higher costs elsewhere.

Now, couple all of that with high unemployment and a generally depressed economy...since people are scared and won't spend beyond necessities because they don't know where their next Euro is coming from.

In short, the whole economy slows down, governmental income goes down, costs don't go down as much, and people are scared. That's almost the textbook definition of Depression. It IS also the textbook definition of the theory of "the rich will become Job Creators" that we've been hearings for the last 13 years in the US. Hint: There aren't any jobs being created!

In short, continued austerity is a pathway to increased stagnation, no growth, and does little to reduce the debt...AND...to the degree the debt goes down, it doesn't do anything to make things better. It doesn't lower interest rates, because they're all ready low...and nobody wants to borrow because they're all afraid.

The Euro system struggles because it doesn't have a single monetary policy.

03:30 June 22, 2012 by readlover
UK leadership is actually the most dangerous for the EU. They simply stand against anything that Germany propose, even if it seems to be a good thing.

Cutting spending is essential in a financial crisis. It is a simple principle. For example, if a family for some reason has less income, they will have to reduce their spending, otherwise they will go bankrupt. A country has to do the same. However, it is very important to cut spending wisely, in order to avoid making things worst.

The PIIGS were artificially inflated, and were living beyond their means. In order to recover, they need to cut their spending. But, at the same time, they have to ensure their banks lend responsibly, so that the money flows to the entreprenurs who can create jobs and not to people who irresponsibly borrow money that later will not be able to pay.

I don't think that Merkel is perfect and all her policies are great. But I think the British are simply criticizing everything she does instead of collaborating to confront the crisis, and the cited newspaper is just an example of this.
07:33 June 22, 2012 by srjmsbnd
Since the local seems to have a similar readership as Fox News allow me to tell those asses to burn in hell before I begin as I do not care for them even more than they care for me.

As for this article:

I agree ¦quot;Merkel is the most dangerous German leader since Hitler.¦quot;

"eight chancellors before her had, ¦quot;presided over a manufacturing miracle at home and the rehabilitation of Germany¦#39;s reputation abroad. Under Merkel, however, the country finds itself isolated once again, loathed and feared in equal measure.¦quot;

"Although *** Merkel did not cause the financial crisis" *** ¦quot;her deficit fetishism and obsession with spending cuts are exacerbating the continent-wide debt-and-growth crises that threaten to upset more than six decades of pan-European unity and stability.¦quot;

"She is fiddling while Athens ­ and Madrid and Rome ­ burn",

As she is calloused negligent and displaced at the rise of anti-austerity, neo-Nazi parties across the European Union. because she is irresponsible as an administrator and self-serving as a pro-corporate politician and just does not give a damn with what occurs else where under very different conditions.

"The idea of Merkel standing up for hard-working Germans who are put-upon to bail out feckless southerners is nonsense" *** , quoting OECD figures which show Greek workers toil for more hours a year than those in any other EU country, and more than 40 percent longer than the average German."

As it is a question of economic and political democracy which Merkel as a Stassi informer was foreign to growing up in the GDR (East Germany) where she regularly sold her neighbors out for the regular privileges she received.

As for the rest of these pro-corporate sell-outs they should all be hung as thieves, con artists and traitors as Europe will never be the same mas Germany and the USA have directed benefited from this crisis they intentionally caused.
08:56 June 22, 2012 by siba
@srjmsbnd: yes, Germany is evil... Listen to yourself how dangerous simplified and extremly populist statements like yours are. THIS IS fox news style. There is not only bad and only good, it is way more complex!

Merkel is conservative but not pro-corporate. She wants the finance tax, the UK blocks it... Germany is one of the countries with the highest taxes in the world...

I just remember 2 or 3 years ago when Merkel was even admired by left-wing people because she dared to speak out against human-right violations and was not a coward like most other countries' leaders...

I am left-wing and I am in favor Keynesian but I do not support this blind Merkel/Germany bashing. She did not cause the crisis and does policies with the best intentions for Europe. She just has a position which fits her political background as a conservative. She might change this too because in national politics she shifted in many questions to the left. Blaming is always easier than doing and taking over resposibility.

This article from the UK is populist - as said before. It just sheds light on a few aspects which fit into the agenda...
10:31 June 22, 2012 by gorongoza
Some Sarazin at the opposite pole. Those of you who admire Sarazin pass your comments.
10:51 June 22, 2012 by smart2012
Hei guys pro merkel, let's put things in perspective. U keep defending her, however since one year the press outside Germany is becoming more and more against her.. At the beginning Greece, then Spain, then USA (times stated "Monti please save euro") now Uk. Can u see that she is doing something wrong, or all the other are just idiots?
11:59 June 22, 2012 by siba
smart2012: it is not about being for or against merkel, it is about trying to see the whole picture.

and again you simplify: the media in the USA, Spain, Greece... are as critical about Merkel as the German media are... you can read in all those countries articles which support Merkel and articles which do not support Merkel. Just take e.g. the NY-Times, depending of the journalists' position there are supportive and critical statements on her... Yes, smarkt2012, people have different opinions, no matter which country you take.

and you should acknowledge that MOST people HERE who "support" Merkel are NOT Germans. I think Germans are even more critical about Merkle than the rest of the world...

You overrate Merkel, if she leaves and politics shift to anti-austerity, the situation does not really change, problems might only be postponed... And you have to convince many other governments to change the course,... though as said, politics will change anyway.

however, I know you have your one-sided, blind agenda thinking in simplified ways with the urgend need to project complex problems to one person/one government. this is not how the world works today... ciao ciao ciao
12:27 June 22, 2012 by smart2012
Thx siba, I am measured on results and I measure results. As I told u 3 months ago and 6 months ago i think merkel (and before sarkozy) is driving nationalism and she is acting as a bundesbank puppet. I can accept it from economists, not from a politician. Now she is paying the bill of her short sighted view. And maybe 6 months ago economical press was supporting her, however in the last months this has drastically changed. Of course better merkel than an extremist (left or right or whatever), however her politic is unfortunately driving to extremism. My friend, the results are on my side (see next article), and I bet in 3 months we will be again talking about this... If merkel finally does not change
12:36 June 22, 2012 by siba
... Yes, the opinion is shifting about what to do against the crisis, but this shift also applies to the German government and voices shift there too... the whole German political opposition has socialist standpoints anyhow. so also the political strategies will change. Recently not the German government was the hardliner anymore, but the Dutch and the Fins...

enjoy the weekend and the football match tonight. I keep my fingers crossed for the underdogs.
13:15 June 22, 2012 by n230099
The E.U., as a concept, is the result of flawed thinking. "Gimmie" societies can't be sewed together and somehow become more than they were. This had failure written all over it from the beginning. Merkel's one of the only ones that "gets it". Places like Greece are dangerously conniving and selfish and the French are, apparently, just drunk.
13:33 June 22, 2012 by siba
and a few last words to smart2012: This poor, very populist anti-merkel article is widely ignored or criticized by the international media. Even the comments directly to this article are mostly negative. Just check the website.
14:21 June 22, 2012 by Leo Strauss
Angela Merkel was an enthusiastic Communist Youth leader. She is now doing her part to bring about a soviet style technocratic union here in Europe. Is that so hard to wrap your head around?

Germany is going to be the Hammer used to beggar the others completely and then bring them all into line through debt slavery.

The new German proposed European Redemption Pact calls for the indebted countries to use their gold reserves to back up a new Eurobond. This is where the electronic shell game starts to get oh, so real. Of course, when the value of these bonds goes south, Germany will call in her golden chips. Nicht schlecht.

Sounds like the Germans are playing their cards right. Just one question. Where is most of Germany`s gold right now? Answer: In the U.S. :(

Do you really think that the Germans would be allowed to have custody over their own gold??! :D

And you think that the Euro politicians like Merkel are dictating fiscal policy??

The Germans are going to be the bankers` goons, shaking down their neighbors for their gold.

The Germans. So clever is some ways, yet dumb enough to play this part, and with the right amount of self-righteousness and Schadenfreude needed to put everyone back into that Nazi occupied Europe mindset. Hated again and holding the bag while the gold goes to _____________.

I leave it to you.

Pin the blame on the (sub-in political party) government of (sub-in indebted Euro land) if you like, its all the same. The bankers always make sure that the money is taken and that the hook is set. When the actors don`t follow the script they are removed. Period. It`s an offer they can`t refuse- just like in the Godfather.
15:22 June 22, 2012 by green tree
The worlds strongest powers shudder at the thought that Merkel would be able to tame and rescue Euro.

This definitely what worlds strongest powers does not want.

17:54 June 22, 2012 by nightynight
Except that it wasn't six decades of growth and prosperity, it was 3 decades of growth and prosperity followed by 3 decades of kidding ourselves we were prosperous while running up a load of debt!
18:19 June 22, 2012 by AlexR
It puzzles me why the Local decided to report about an article on a small left-wing magazine, while there are thousands of similar, or even harsher, articles on the biggest magazines and newspapers, including the German press; and none of them is left-wing. Is it because Local wants to give the impression that those views about Merkel are confined to a small left-wing circle of the media? Well, they aren't. Here are some examples:

1. The front cover of The Economist portrayed the world economy as a sinking oil tanker with the caption, "Please can we start the engines now, Mrs. Merkel?" and a subtitle "The world economy is in grave danger. A lot depends on one woman"


2. The Nobel laureate Paul Krugman in International Herald Tribune: "The origins of this disaster lie in Brussels, Frankfurt and Berlin, where officials created a deeply - perhaps fatally - flawed monetary system, then compounded the problems of that system by substituting moralizing for analysis. And the solution to the crisis, if there is one, will have to come from the same places."


3. The German economist and member of the German Council of Economic Experts, Peter Bofinger, in New York Times: "Germany is responsible for the whole disaster. German leaders genuinely believed that financial markets would reward fiscal rectitude with lower interest rates. That was naïve. It didn't happen. The problem is, it isn't easy politically to make a 180-degree turn. It will take a lot of courage and leadership from Merkel."


4. The economic historian Niall Ferguson and the economist Nouriel Roubini in German Spiegel: "The European Union was created to avoid repeating the disasters of the 1930s, but Germany, of all countries, has failed to learn from history. As the euro crisis escalates, Berlin should remember how the banking crisis of 1931 contributed to the breakdown of democracy across Europe. Action is urgently needed to stop history from repeating itself."


5. The German economic historian Albrecht Ritschl in Spiegel: "Germany was responsible for what were the biggest national bankruptcies in recent history. It is only thanks to the United States (and Britain, France, Greece among others -mc), which sacrificed vast amounts of money after both World War I and World War II, that Germany is financially stable today and holds the status of Europe's headmaster. That fact, unfortunately, often seems to be forgotten. The anti-Greek sentiment that is widespread in many German media outlets is highly dangerous."

18:32 June 22, 2012 by Maurice45
Some hard facts are always ignored when lefties and do-gooders criticize Germany¦#39;s position. The first is that there is, in fact, ONLY ONE solvent ECB-guarantor left and this is the German taxpayers, as, btw, likewise seen also by the global financial markets. All others have either too small a tax revenue to be viable guarantors or they lost a triple ¦quot;A¦quot; rating (most creditworthy) and are over-indebted themselves.

The Germans, with a debt level of their own of 82% of GDP (GDP = EUR 2.506 trillion), which is 22% over the Maastricht limit, committed their taxpayers already to guarantee a further 1.712 trillion EUROs (or an additional 68.32% of GDP) for their ¦#39;profligate¦#39; Eurozone peers, which brings up Germany's cumulative sovereign liabilities to 150.32% (!!) of Germany¦#39;s GDP.

Any further public debt increase or the assumption of more debt for other eurozone countries can push Germany over the brink in the blink of an eye. Wall Street¦#39;s rating agencies are already whetting their knives.

That's why it would be the dumbest thing in Germany's post-war history if a German government were to obtain more debt liabilities from countries which are openly declaring that they want spend more than their tax income provides (and they call a normal spending behavior misleadingly ¦quot;austerity¦quot;).

Since the markets mistrust these countries¦#39; willingness ever to pay back their debt, because in the past they all proved that they are either ¦#39;irresponsible spending addicts¦#39; or societies that are unwilling to give up once grated entitlements and to make the necessary reforms to enter the globalized 21st century, they have to pay risk-surcharges now on the interest of their issued sovereign bonds. Only this is the reason why they need the German taxpayers¦#39; guarantees now, since only the German taxpayers are still seen as prudent and creditworthy.

Germany¦#39;s Chancellor has arrived at a point now where she has to make the difficult choice of either to drown with the others while futilely trying to rescue them . . . or saving the future of her own country.

My political understanding is that in this situation any German chancellor¦#39;s duty is to save his own country first ­ only when this is ensured she/he can reach out for others . . . And, of course, true friends have to come first.
19:54 June 22, 2012 by agc55
sticking to the headline, I don't know anyone in the UK who reads The New Statesman. An out of touch paper read I suspect by out of touch people who live in never never land.
10:35 June 23, 2012 by Leo Strauss

Thanks for taking the time and for posting your links. I appreciate your skepticism and analysis.

Well, I have read the Niall Ferguson article and I would first like to point out that Ferguson, an established Bilderberger, was at this year`s meeting in Chantilly a couple of weeks ago and was of course, given his marching orders. One of the key Bilderberger goals is to destroy the nation state and replace it with supranational institutions that can be more easily controlled. As one of their historians and economists, he is a very important mouthpiece for the elites and does his part to weave their `spell` upon us with his words. You know, spell and words... to spell words? It is a kind of magic that people like Fergi use to conjure up the `truth` for us. He`s kind of like a Walter Lippman of our time...

Anyway, you are correct to point out that criticism of Merkel is coming from across the political spectrum. Still, have you considered that this is just more controlled opposition? Don`t lose sight of their End Game. Niall Ferguson and his gang want to see the Germans spread the wealth around the EU because, as he puts it, within days it could `too late`; and Merkel is unwilling to do this for domestic political reasons, or at least, she is holding out until the indebted countries accept more centralization and integration within the Euro Zone. In the end this is all serving the same purpose: enriching the banksters while erecting a technocratic supranational dictatorship in Europe.

As for the 1931 financial crisis that Ferguson cites, I find it interesting that he exhorts the Germans to remember history. I think that it is Ferguson who has a problem with the historical facts. It could be argued that the American stock market crash of 1929 was the primary cause of the `31 crisis. A history lesson for the Anglo-American banksters: `29 crash/Glass-Steagall/repeal of Glass-Steagall/banking crisis of 2008. The EU can`t save Europe from the mistakes of the `30s if those mistakes are being made again in America, can it?

Of course, it was the French who actually ignited the `31 crisis by calling in 300 million in short-term credits from Germany and Austria in protest of the Austrian/German plan to form a customs union. This is what crashed Austrian Credit Anstalt. But then as now it was greed and irresponsible behavior of Wall Street that created the conditions for this crisis to take place.

Have a good one. :)
12:33 June 23, 2012 by smart2012
Hei Maurice45, please tell merkel to propose that Germany goes back to dm and leaves EC. This would be the best for Europe. Please tell her...

But u know she cannot, as germany could not survive without Europe, and this is what merkel/Germans believing in merkel tend to forget (or they are not properly informed)
18:25 June 23, 2012 by dinerouk
It is natural that the Germans support merkel. They have profited from the Euro zone and correctly criticise those who have not mnaged their economies. However, the rules were bent and bent again to allow these economies limp on until it got too much. The poor economies should never have even been allowed in. Now they are just placing sticking plasters on gaping wounds when what is needed is something more radical.
19:08 June 23, 2012 by Tonapah
Obama, the Savior, created 910 jobs at a cost of 9 billion dollars. That, in a nutshell, is what is wrong with government spending. They spend irresponsibly, without any oversight, without efficiency, without any stewardship of other people's money. There are bridges to nowhere, rail tracks that will never be finished, gross government waste, and, their only mantra is that they want more.

If our government had any sort of track record of spending taxpayer money wisely and judiciously, we, the taxpayer, would listen to them if they needed more money for an important project, or, to get out of a fiscal jam. Unfortunately, it's the exact opposite, where they spend our money like water through greed and corruption, and expect us to roll over and take more of their abuse.
13:34 June 24, 2012 by Peepopaapo
@ Leo Strauss: Very good comment in deed: Mr. Ferguson does not only seem to forget where the so called "black friday" took place, but also the treaty of Versailles and its consequences. Furthermore he seems to forget where Lehman Brothers came from and he also seems to forget the Anglo-saxon rating agencies which - for whatever reason - credited Lehman Brothers and its products as secure just before the crash was about to happen.

I think Mr. Merkel has shown us that our entire economic system and thus our wealth was just based on making more and more debts and as soon as you turn the tap its all over.
14:24 June 24, 2012 by Sastry.M
Well said as above 'democracy' as the largest cultivated virtue here, for example, in India is nothing but an exercise of double speak/double standards both within home administration as well as foreign /policy abuse. Indeed all guarantees of freedom- of expression, choice and speech under 'democracy' are a lure under its magic carpet for exploiting the innocent laity who want the minimum safeguards only for bare livelihood.

The preposterous accusations against Chancellor Merkel who, primarily is a woman and housewife before being elected as Chancellor of parliament for home administration and to represent the people internationally to safeguard their interests, is what democracy upholds as best ideal in feminine compassion and the worst hypocrisy of abuse the same hurls against, for being a German.

No phenomenal system worth the reality of ephemeral existence can ever guarantee spending beyond the means of income collected from whatever sources of reimbursement. If possible otherwise,all human management is a mockery and all progress audited through journals of double entry book keeping and statements of annual balance sheets will be a farce of human greed beyond living need.

Upon a second thought it looks as though Obama the Savior of the U.S is presently fighting against economic depression unleashing huge sums of bank bail outs probably to squelch the wrath incurred in revenge by big business gurus as an atonement of sin committed by his predecessor in failing to heed the advice of threat from nuclear Iran and what the Germans fought against international boycott more than seventy years ago by opposing their authority.
09:50 June 25, 2012 by AlexR
No matter what Niall Ferguson is, he didn't write that article by himself but with Nouriel Roubini. In 2005 Roubini correctly predicted the collapse of the United States housing market and the worldwide recession in 2008. Back then he was called a Cassandra and now he is called a sage. Regarding the current crisis, he gives a little time to Eurozone to change its disastrous bailout and austerity policies or the PIIGS will soon have to leave the Eurozone which will result to a EZ collapse. I don't know if he was a Bilderberg participant like Ferguson, but he had met some times the former Greek PM and Economy Minister, the ones who have brought EU/ECB/IMF to Greece. And to thicken the plot, both the former Greek PM and Economy Minister were attendees at many recent Bilderberg meetings. Of course this doesn't say much since many other members of the political and economy elite were participants at Bilderberg meetings like Ackermann, Westerwelle and Merkel herself.

My main point is that, whichever Ferguson's intentions or affiliations are, his opinions expressed on that article are not different that thousands of recent opinions expressed on the international and German media by prominent economists like the Nobel laureate Paul Krugman, and German economist and economy historians like Albrecht Ritschl and Peter Bofinger (on their articles I've quoted and linked above). And the last two are not just *any* German economists or historians. Albrecht Ritschl is professor of economic history and a member of the advisory board to the German ministry of economics. Peter Bofinger is one of the five members of the German Council of Economic Experts (in the German media is referred to as the Five Sages of Economy) which are nominated by the German government and appointed by the German president. So their opinions expressed on the above articles are quite revealing on the German policies and important mistakes regarding the crisis, and the possible shifts of those policies.
18:55 June 25, 2012 by Leo Strauss

I certainly agree with your main point that criticism of Merkel`s fiscal policy is coming from across the board.

As for the other Bilderbergers, I would say that simply attending one of their conferences does not make one part of the club. Guests are sometimes merely vetted or are asked to play a minor role in one of their plans without being brought into the fold. These people cannot be compared with the permanent members of the steering committee, for example. That being said, I think that it is important to identify the policy goals of a secretive group like Bilderberg, as well as other elite co-ordinating groups like the CFR and the Trilateral Commission because they telegraph exactly where things are going to go. Once you are aware of these aims, it all starts to make more sense despite all of the Kabuki theatre for those out in TV Land. This is why we should listen to a Niall Ferguson but in the same way that we used to read Pravda back in day. :)

Wonder what you think about Eurozone nations having to put their gold up as collateral as part of the Euro Redemption Pact proposal?

Max Keiser isn`t surprised. :)

Don`t you see where this is all going?
19:02 June 26, 2012 by AlexR
@Leo Strauss

Re their gold I'm not surprised at all. In the words of the General Secretary of the Soviet Communist Party, Mikhail Gorbachev:

"The most puzzling development in politics during the last decade is the apparent determination of Western European leaders to recreate the Soviet Union in Western Europe."
21:59 June 26, 2012 by Leo Strauss

Great Gorbi quote. :)
13:55 July 4, 2012 by blacky
the biggest lairs and criminals of europe, once again points others, to hide the corrupted politic of their government and companies .....!!!!

you don't get tired to be humiliated at the end, all the time ?!?!?

(maybe is your "superior d.n.a.", the biggest joke in europe and more ......)

maybe all the others, we're wrong, but the fact is one, you're really pathetic, and the your wealth is completely stolen ..

.. every one knows it, but you steel "play the unaware", because YOU DON'T USE TO PAY YOUR DEPT !!!!


now point your finger wherever you like .... no one follows your hypocritic stand ...... only your "old friends" of the "glorious nazi axis" .... also pathetic and hypocrites ...

what about your export index germs, how much money you grab this time from the crisis ..... ?!?!?!

what about loansharking ?!?!? you've satisfy your endless hunger ?!?!?

hahahahaha ..... so,so,so hypocrites !!!!!!! ...

i know exactly what you need this time ..... all europe to boycott your expensive and waste products ....

let's see then, who's rich (zieg hail) .... hahahaha
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