NP - Germany Won't Budge on Austerity: Economic Suicide is Character Building

[David Morris]

http://www.motherjones.com/kevin-drum/2014/10/germany-continues-demand-european-austerity-suicide-pact

Germany should stop obsessing about its short-term deficit, and start
spending more on roads and bridges and schools instead. Markets are all but
begging it to....But out of some misplaced sense of fiscal
self-righteousness, Germany would rather let its critical infrastructure
fall into disrepair than take this free money.

....But Germany is stubbornly sticking with spending cuts instead, and it's
making the rest of Europe do the same.

It's an austerity suicide pact, and Germany doesn't even want the ECB to
cushion the blow. It turns out, though, that forcing your customers into a
worse depression than the 1930s isn't good for you, either. It's left
Germany, which despite its image as an economic powerhouse has only grown
1.1 percent a year the past decade, teetering on the edge of its own slump
— with Russian sanctions maybe enough to push it over.
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