Sunday 11 March 2012

How German economic policy has had dire implications on the rest of the EU

http://www.brugesgroup.com/eu/german-economic-policy-and-the-euro-1999-2010.htm

The link above shows the disastrous effect that German economic policy has had on the EU. The German economy has drained resources from the lesser EU nations and whilst enriching them - it has impoverished the rim group of nations.

Consider the following facts:

  • Germany has been by far the largest exporting nation within the Eurozone
  • In the last 3 (recorded) years alone, Germany has run up massive trade surpluses with the other Eurozone countries averaging €100 billion per year
  • The ECB’s exchange rate policy favours German interests

  • Germany entered the euro at too low a rate of exchange, cementing its historic economic advantage and to the disadvantage of countries with smaller economies such as Greece and Ireland

  • The siting of the ECB in Frankfurt enabled Germany to influence policy regarding the Euro in its own interests

  • Do WE in Britain want to be part of a German dominated superstate?

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