Obama and Most of Europe Just Don't Get It

Discussion in 'Politics' started by usmcstinger, Jun 9, 2012.

  1. usmcstinger

    usmcstinger Silver Member

    Dec 31, 2011
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    The German Economy is thriving because of Merkel's reforms.

    Yet: Obama has joined European leaders who chafe at Merkel’s prescription of budget austerity. While Germany may back expanding EU job-creation projects, Merkel balks at proposals for greater deficit spending or underwriting the entire currency union’s debt with joint bonds, even as the turmoil risks driving Greece out of the euro and Spain to seek aid for its banks.ell.html

    The Merkel government is really getting sick of all the complaining and lecturing from the Obama administration,” Fredrik Erixon, head of the European Centre for International Political Economy in Brussels, said by phone. “It’s really infuriating for them to hear someone like Geithner lecturing Europe on what it has to do given all the U.S. problems like the debt and the deficit

    The U.S. may be more vulnerable than Germany, which has bucked the crisis. German unemployment is at a two-decade low of 6.7 percent and the economic growth that helped the euro area avoid recession is lessening Merkel’s incentive to change tack as Germany heads toward its own election next year.

    Why is it that the Obama Administration and Western Europe lack the common sense to fix their economic problems? The answer is quite clear.
    Last edited: Jun 9, 2012

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