A good old-fashoned rumpus is developing. Seems as though the Germans, fed up with being sneered at by Godron Brown and irritated by the Prime Minister’s pretensions to have “saved the world” have decided to poke the PM in the eye. As Peer Steinbruck, the SPD Finance Minister told Newsweek:
We have a bidding war where everyone in politics believes they have to top up every spending program that’s been put to discussion. I say we should be honest to our citizens. Policies can take some of the sharpness out of it, but no matter how much any government does, the recession we are in now is unavoidable. When I look at the chaotic and volatile debate right now, both in Germany and around the world, my impression and concern is that the daily barrage of proposals and political statements is making markets and consumers even more nervous.
The speed at which proposals are put together under pressure that don’t even pass an economic test is breathtaking and depressing.
The speed at which proposals are put together under pressure that don’t even pass an economic test is breathtaking and depressing.
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