Germans in Davos: We’re not close-fisted because we want to be

We’re close-fisted because it’s one of our defining national obsessive compulsive disorders and the one over which we have the least control.

When it comes to the euro crisis, Germany is about to be slapped around a bit by some folks at the Davos World Economic Forum for not being willing to make more money available than it already has. There is not enough money in circulation in Europe, they believe, yet this is necessary for certain ailing economies to be able to crawl back out into growth again.

Germany’s critics also believe that more money needs to be set aside for the European “safety chute” fund, something Germany steadfastly refuses to do. This extra capital would convince financial market investors that the euro is properly “covered.”

Needless to say, the Germans will listen politely and refuse to budge an inch, their fists tightening automatically, close-fistedness being one of their defining national obsessive compulsive disorders and the one over which they have the least control.

What can I say? This is New Europe, people. Germany does what it wants and everybody else here has to like it.

Für die deutsche Delegation geht es in diesem Jahr nicht so gemütlich zu wie üblich.

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3 responses

  1. Yeah, Ian. It’s kind of like quantum physics with me when they talk about doing things with money that don’t make sound economic sense (from my perspective). The problem, I believe, is that you’ve got the experts on this side and the experts on that side and whoever might turn out to be right does so by pure chance. Experts are always wrong. History is made up of unexpected events/developments that no expert anywhere forecasted because no expert can. That Germany seems to be right on the money right now is pure coincidence. Let’s wait six months or a year and see who’s riding high then. One thing that will happen though, and you don’t have to be an expert for this: Germany will do what Germany thinks best for “Europe” (code word for Germany). The New Europe Germany has at least given up the pretense of pretending to care about anybody else but number one.

  2. Wait, are you guys saying that the future of Europe is not Greeks spending money like drunken ναύτες (keeping with the high tone of this site) and being subsidized by compassionate Germans?

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