No, not really. German-American relations at the top, I mean. Angie’s visit to Washington this week will only be another reminder of how Washington and Berlin don’t see the big issues eye to eye, or the ways to combat them – not even now (or especially now) that Mr. Good Guy (Mr. Right?) Himself is in office. What is more, Washington seems less and less inclined these days to even care about what Germans have to think about it.
It’s family history in the end, I suppose. Especially when it comes to how the two countries are tackling the financial crisis. Germans, cautious as ever, are being as cautious as ever. Americans, behaving as if their backs are up against the wall, are less so.
“Archaic fears, combined with the memories of two different years, are at the root of the two countries’ fundamentally different positions on the purpose and tools of monetary policy. The Americans remember the 1929 global economic crisis with horror. For them, there is nothing worse than a shrinking economy, which they see as the epitome of hunger, hardship and ruin. The Germans, on the other hand, think of 1923, when hyperinflation destroyed assets and plunged many into poverty.”
Good that history never repeats itself, right?
“In the new world order, Europe is looking increasingly irrelevant for the US.”