Sunday, June 26, 2005

Germany No Longer Europe's Economic Backbone

Click on the title for a very interesting NYT article via the IHT on how Europe can no longer count on Germany to be its "sugar daddy".

When I lived there (1978-80), the German Mark was by far the strongest European currency. Then the wall came down and West Germany had to absorb the debts of the East, not to mention its unproductive socialist workforce.

What does that tell you?

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