Tuesday, December 02, 2008

I love this image...

Peer Steinbrück, Germany's finance minister, in an interview with Der Spiegel, echoes Angela Merkel's scepticism of Brown-style, debt-funded fiscal stimuli.
"Just because all the lemmings have chosen the same path, it doesn't automatically make that path the right one."
Too true

3 comments:

Winchester whisperer said...

Is the German game plan to see the City go bankrupt and get all the remaining banks to set up shop in Berlin? (And also to let Italy spin out of the Euro so that they can get a Tier 1 Euro currency ie the DM?)

kinglear said...

WW - well, its not imposssible. They would certainly like Italy, Spain, Greece and Ireland out of the Euro.
City go bankrupt? Not impossible. The problem is the people who are true entrepreneurs are no longer in charge. Don't forget everyone wanted to do business with Norwegian shipowners - sound chaps y'know. Greeks? Heavens no, dreadful gamblers.
Except when things got tough the Norwegians went bust and the Greeks cleaned up.

In Actual Fact said...

I know of several German financial types who believe that *Belgium* shouldn't be in, never mind the peripheral countries, but that wouldn't be politically acceptable. Probably.