Financial

Tuesday, March 16, 2010

France doesn’t like German’s thrifty and discipline
by Zivka Deleva


Who’s to blame Germans for dominating Europe? Who’s to blame if this country teaches its people to be hardworking, disciplined, thrifty and live simple? These principals of the German nation have been key characteristics for the previous century and this one, off course. We shell put aside the giant mass seduction that national- socialists together with the Third Reich have done. Today, this country is one of the leading in Europe, in industry, culture, sports, etc. Germans policies conduct European policies. So, who doesn’t like that, that’s completely his problem. French Finance Minister Christine Lagarde ventured to criticize exactly that –! ; why didn’t German politicians convince its people to spend more, thinking of the big amount of the trade surpluses that the country has? By her opinion, the state has to boost internal demand, so the other Euro zone countries could solve their fiscal problems. "Clearly Germany has done an awfully good job in the last 10 years or so, improving competitiveness, putting very high pressure on its labor costs. I’m not sure it is a sustainable model for the long term and for the whole of the group. Clearly we need better convergence." – she said. Lagarde mentions “common destiny”. "You can't ask one player, as big as it is, to pull the whole group. But clearly there needs to be a sense of common destiny that we have together with our partners." – she’s precise. Concerning her German’s colleague Wolfgang Schaeuble proposition for constitution od European Monetary Fund, she thinks that that is not so necessary as the “adopti! on of some ‘soft laws’ that should strengthen fisc! al disci pline among member states”.Germany is well known as one of the biggest exporters. No matter how much one is frustrated, one thing is for sure, we should all learn from Germans culture, no matter if you are a EU-member, or you are very much willing to become one!
by Zivka Deleva
for Cantell TV (http://cantell.tv)

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