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Richard's Remarks


 Germany -- Why was Germany willing to spend $250 billion (so far) to fund Europe's failing banks? First, Germany is a huge exporter, with 40% of its exports going to other European nations. Germany depends heavily on Euro nations for its prosperity. But Germany has been, and still is, an austerity-minded nation. It irks the Germans to hand money over to the "good time" nations of southern Europe.


Germany's chancellor, tough Angela Merkel (she's loved by the Germans), is willing to fund the banks of the fun-loving Euro nation, but only with attached austerity strictures. Southern Euro nations such as Greece, Portugal and Spain constantly remind the Germans that in two World Wars, Germany literally destroyed most of Europe, and was responsible for the death of millions. But the Germans say, "The Nazis were our ancestors, let bygones be bygones." Nevertheless, other nations continue to accuse the Germans, saying "You owe ... Log in or subscribe to continue reading.

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