More critique of Germany’s policies – Bill Mitchell edition

Via this link.

I think he asks a very relevant and painful (for the Eurocrats) question: would the cost of abandoning the euro have been as great as the drama we see right now in Europe, with unemployment, underemployment, crumbling (i.e. actively demolished) welfare states and crumbling infrastructure, on top of which there is the rise of all kinds of unsavoury right-wing parties.

A big part of the article is also a summary of The Germany Illusion – by Marcel Fratzscher, which is as current and relevant as a book can ever be. By now, even Finland and the Netherlands have started pledging Germany to invest more (although they are still austerians otherwise).


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