Posts Tagged ‘Crisis’

Here’s one of the most misleading headlines ever… from CNBC no less:

Germany To Blame For Euro Zone Crisis: Study

Why is Germany to blame?  Because:

     Germany’s insistence on keeping wage growth in check has given the country an unfair competitive advantage vis-à-vis its euro zone peers and is preventing troubled countries from returning to growth, a new study argues.

So let me get this straight:

Because Germany has effectively controlled expenses… and not let its workforce bully them into irresponsibly creating unsustainable infrastructure costs… it’s getting blamed for succeeding?

Here’s what anyone in the Euro Zone that thinks Germany is to blame needs to know:

Unemployment Rate (source and source):

     German 5.4%

     France 11.0%

     Spain 26.7%

     Greece 27%  

You think German employees are moaning about lower wages?  All the way to the bank.