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This article is about 2 months old, but interesting nonetheless.
Germany has been enacting austerity measures (spending cuts) all through the financial crisis. While the other EU nations have gone the US route of massive deficits and printing money, Germany's economy has been robust. See http://www.reuters.com/article/2013/02/21/us-pmi-services-eurozone-idUSBRE91K0DU20130221.
So Germany is doubling down on what's working. The flagging Progressive Socialst economies are flagging. So what they're ultimately going to need is to TAKE 10% of Germany's GDP to mitigate the suffering. See http://online.wsj.com/article/SB100...8285503854758408.html?mod=WSJ_Opinion_LEADTop.
http://www.cnbc.com/id/100353656/Germany_Plans_More_Austerity_Measures_Report
Germany plans further spending cuts worth up to 6 billion euros ($7.9 billion)in order to achieve its target of a structurally balanced budget in 2014, a newspaper said on Friday, quoting finance ministry sources.
Chancellor Angela Merkel's center-right coalition, which faces an election in the autumn, has championed the cause of budget discipline to overcome the euro zone's sovereign debt crisis and aims to balance its own books next year, two years earlier than a previous target.
Germany has been enacting austerity measures (spending cuts) all through the financial crisis. While the other EU nations have gone the US route of massive deficits and printing money, Germany's economy has been robust. See http://www.reuters.com/article/2013/02/21/us-pmi-services-eurozone-idUSBRE91K0DU20130221.
So Germany is doubling down on what's working. The flagging Progressive Socialst economies are flagging. So what they're ultimately going to need is to TAKE 10% of Germany's GDP to mitigate the suffering. See http://online.wsj.com/article/SB100...8285503854758408.html?mod=WSJ_Opinion_LEADTop.
http://www.cnbc.com/id/100353656/Germany_Plans_More_Austerity_Measures_Report
Germany plans further spending cuts worth up to 6 billion euros ($7.9 billion)in order to achieve its target of a structurally balanced budget in 2014, a newspaper said on Friday, quoting finance ministry sources.
Chancellor Angela Merkel's center-right coalition, which faces an election in the autumn, has championed the cause of budget discipline to overcome the euro zone's sovereign debt crisis and aims to balance its own books next year, two years earlier than a previous target.
