Giving Thanks

by Will on November 25, 2011

This Thanksgiving, I am supremely grateful not to be in a monetary union dominated by Germany. For other things, too, but that’s a big one.

{ 2 comments… read them below or add one }

You got a problem with Germany? I’m glad not to be in a recession.

Will November 26, 2011 at 1:55 am: Wordpress just ate the reply I tried to write. I’ll try to reconstruct it.

Germany is in many ways a fine and admirable nation, distinguished especially by its contributions to science, the arts, literature, and intellectual life. However, its leaders’ current obsession with hard, hard money, and their treatment of economic problems as moral in nature, has repeatedly aggravated the eurozone crisis. The ethos that treats debts as shameful and dirty rather than dealing with them pragmatically and realistically, and portrays unemployment as righteous retribution for high living, has not made the eurozone more stable and sound, but less so: it has put the very fate of the currency in question. History is unlikely to be kind to Angela Merkel and the recent heads of the ECB. It is hard to see this ending well.

Wheeeee!

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