Monday, April 15, 2013

Scapegoating Germany For Problems In Eurozone Is Counterproductive

Germany is being blamed for many of the problems in the eurozone.  This is part of a renationalisation that has been taking place in the eurozone.  German's have been asked to provide financial support to nations that have done a poor job of managing their economies.  They wonder why they should continue to do so.  The nations that have benefited from German financial support blame Germany for imposing painful structural reforms on them in return for support.  The renationalisation of the eurozone is the opposite of what is needed to save the euro.  There needs to be greater political and economic integration rather than disintegration.

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