European Debt is Not Germany’s Fault

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I’m not German so I can only imagine what they feel like, as one after another Eurozone countries are falling into huge pits of debt.  Of course then comes the bail outs where the country in question comes cap in hand for money to bail out the mess that their economy has got into.  We are seeing it in real time now with the Cyprus Government where of course the remedy is even tougher than normal by forcing Cypriots to bail out their banks.

It’s the next bit that always annoys me, the Anti German banners, placards with pictures of Angela Merkel sporting a Hitler style moustache.  You’ll hear talk of bullying, of Germany imposing strict controls and trying to dominate smaller countries.  Of course Germany invaded Greece many years ago but the German taxpayer would much rather not be involved with Greece’s problems at the moment.

The problem is that Germany has to help, but it shouldn’t be forgotten that these bailouts are partly funded by taxpayers in Germany.  One by one the basket cases of Europe announce that they are about to go under, and expect loads of cash to solve their problems with no strings attached. It’s simply not going to happen, at least not until there is a central European taxation system.

The reality is that the reason the German economy is able to help is that it has practised for years the sort of austerity that is suddenly forced on these countries.  Germans did not retire in their mids 40s on fat Government pensions like many Greek citizens did, and thus they are able to finance rescue plans using surpluses.  The woes of the Eurozone were not inflicted on anyone by the Germans, although it has to be said they have benefited from a currency which is much more competitive than the German Mark would ever be in todays world.

If you look at German media and especially check in with some of the German TV stations that broadcast online you can see the growing resentment.  Check out some of the main German TV station and you’ll see for yourself – you can look at them online, you just need to invest in a German proxy such as this – to access some of this content.  This shields your real IP address to enable you to watch geo-restricted content using a German IP address instead.

You can see that patience is running thin with some of the abuse that Germany is getting whilst trying to help these economies survive.  It’s not something we see when you’re outside the country particularly being bombarded with Anti-German companies.

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