Can Europe beat Germany? – By Nadim Souss

6 Jun

The financial situation in Europe is by no means simple. With Greece still recovering from a huge financial meltdown, the debt-ridden governments of both Italy and Spain look to be next in this financial apocalypse. Within the ‘fatherland’, Angela Merkel is still calling for austerity measures, while the rest of Europe seems to have lost its interest in what some are calling ‘the new European republic’. The ruling right wing coalitions in many countries responsible for this debacle are one after the other being ousted from power. The election of François Hollande in France and the strengthening of SYRIZA (coalition of the radical left) in Greece, is a strong sign that the tide is turning and that the severe programmes long-favoured by many as a recipe for economic recovery at the expense of the social welfare are no longer to be accepted by the governed.

On the British front, David Cameron is of those who have become sceptical about joining the ‘new Europe’ and has never had the desire to fight for it. However, the Prime Minister might have to adjust his tactics for the sake of the 2014 elections. Ed Miliband, leader of the labour party, is already rolling up his sleeves. The latest round of local elections in the country have given his party momentum and the latest opinion polls show that he has gained popularity throughout the country.

In Germany — Angela Merkel, a stalwart defender of budgetary austerity, recently stated that, “the rules must not be oriented toward the weak, but toward the strong. That is a hard message. But it is an economic necessity.” This is quite a provocative statement and it is not surprising that countries in Europe are having second thoughts about joining Merkel in her crusade to impose austerity measures on Southern Europe.

Europe is wary and apprehensive about Merkel’s insistence on austerity measures as certainty is growing that they are bound to drag the European Union into a new round of financial and economic crisis. Many experts and commentators are convinced that Merkel’s economic strategies are just a way to impose deflation throughout Europe in order to exert financial control over the continent and public opinion in Germany itself is exceedingly uneasy about the policies of the Chancellor.

It is quite obvious that if Merkel’s plan of monetary domination over Europe should work, the result will not be in the interest of the Germans, as the country will have to cater to countries so riddled in debt that nobody will be able to afford their high-end industrial products. Furthermore the socio-political debacle that will ensue will engender a wave of mass unemployment and ultimately lead to the collapse of the euro-zone… and even the European political union.

Across the Atlantic, the Obama administration is becoming even more worried that if another economic crisis occurs, it will certainly not be limited to Europe. But with the November elections approaching, President Obama ‘has bigger fish to fry’.

The future of Euro, and indeed the European Union itself, today hangs in the balance. Will Germany prevail in this confrontation? Will the European Central Bank be given more responsibility in the rescuing of failing economies? These questions are today open. And the latest round of European consultations has highlighted the growing crisis. Will Merkel be the first to blink? The future of Europe is again at the mercy of Germany.

Image: EAQ

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4 Responses to “Can Europe beat Germany? – By Nadim Souss”

  1. The International Political Forum June 6, 2012 at 5:12 pm #

    Check out the responses to this article on Reddit! http://redd.it/unv9v

    Feel free to respond on the blog, too!

  2. everythinghk June 8, 2012 at 4:28 am #

    Some points on your blog article.
    First off Greece is not “recovering” anything. It’s in the process of going down the toilet.

    Secondly, charity is always a good thing but I’m amazed at how many attempts are being made to make the Germans the bad guys here.

    Germany is trying to be the voice of reason

    When statements get made like this it really implies a take from the rich and give to the poor socialist mentality.

    If Europe want to beat Germany maybe they can start with some advanced math lessons and a few courses in economics.

    • Nadim Souss June 8, 2012 at 10:35 am #

      Firstly, there is nothing wrong with a ‘take from the rich give to the poor’ mentality. The ‘poor are poor by choice’ Capitalist mentality prevalent in Europe over the last 5 years has got the continent nowhere. All over Europe, Socialism is prevailing, why is this? It’s quite clear. Seriously, lessons in economics..? How about lessons in ethics and morals?! Greece is in its current situation because the government was so corrupt. This has been the same with Italy, and Sarkozy in France was no saint. People around Europe are fed up. The job markets, whether they be in France, Greece, Italy or Spain have gone down the drain. The ‘Poor’, as you call them, are looking to survive. Their agenda is not to actively take money from millionaires in Europe, but simply to turn the tide on the wave of crippling austerity and attempt to rebuild their lives and their economies.

      • everythinghk June 8, 2012 at 2:12 pm #

        There has never been in the history of the world a socialist government running a country that has succeeded.

        While all governments over the course of world history have been corrupt you postings would seem to indicate that all Capitalists are corrupt which they are not. Even the smallest family run restaurant in Capitalist.

        Most European countries have had socialist programs for years including Germany. Their tax rates are int he 50% range for a working executive.

        The German culture by nature has always been a “work hard” type of culture which is why it has always been a top economy.

        China “Socialist/Communist” is a shining example of when you introduce a hard work ethic with Capitalism they have nearly taken over the world economy. They started in this in 1972.

        Effects of the Obama stimulus package, where 10T was spent on socialist programs was an utter failure. Additionally the money needed for true growth went to the mega-corporations (through the corruption you mention) and nothing filtered down to the people that owned business’. The government picked the winners and looses through their socialist programs and it failed.

        Remember if you redistributed all the worlds wealth so every single living person in the world had equal wealth, it would take less than 5 years for the motivated to rise back to the top. This is the difference in work ethic and motivation I’m taking about.

        Lastly being “Broke / Bankrupt” is temporary (This is Greece). Being “poor” is a state of mind.
        Corrupt Politicians talk a good game about socialism or capitalism but they are in ti for themselves.

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