Germany is ripping off the world: Ex-BoE member Adam Posen: ""First it doesn't pay its workers anything in commensurate with the productivity that they have, thereby cheating its own workforce. Second it invests nothing ever in the public sector or in the private sector. Third, those two combined means it's competing as a low wage economy," he said.
(Read more: German business: Europe should copy, not criticize surplus)
"Fourth, it rips off Europe and the rest of the world in that it gets a subsidy to its exports from a weaker euro than the deutschmark would be because of the weakness of other countries. And fifth, it tries to grab market share when there's lots of unemployment in the world thereby exporting deflation.""
Masterful plan and the only way the Euro will survive. If Germany begins to lose the Euro is dead !
'via Blog this'
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