– Joblessness in the currency bloc hit an all-time high of 12% in February
– Eurozone lending declines
– Slump in eurozone manufacturing could prompt ECB to cut rates
Well now. These are all today’s headlines. The direct result of the Teutonic policy of punish them to teach them a lesson they will never forget!!!!
Congratulations Frau Merkel and Herr Schauble, You have accomplished all you set out to do. You have brought the Eurozone down to its knees and very possibly even endangered the very’s Euro’s existence. At least you have made certain that a good many Europeans will say, Good riddance to bad rubbish, once it does go.
But what has Germany gained? Even her own output is falling, and worse to come is on the horizon. So what has she gained? Well, a power trip for starters. She has shown quite clearly, thanks to the likes of Baroso, Rumpuy, Rajoy and Samaras… and perhaps Hollande too, that she is the boss and everyone will do as she says. or else!
Yes. And?
Well, isn’t that enough? Hmmmm….
There is one thing wrong in all this. Thee EU and its component the Eurozone are supposed to be entities for the advancement of the continent’s economy. First the single market, then (the badly designed) Euro and all that building up into an Economic Union.
Only the Germans don’t get that. They seem to think it is all about kicking the little guys when they are down so you can dominate. And that is what she has done. Never mind that all she has done is cut off her nose to spite her face.
So when it is an issue of getting economies working again, rather than a policy of teaching your subordinates a lesson they will never forget, it is preferable to make you partners an offer they cannot refuse.
Because one thing they will never forget is how stupidly harsh you treated them when they were down. And never buy anything from you again if they can help it!