Krugman, P., (2013), “Germany’s lack of reciprocity”, The New York Times, 12 Νοεμβρίου.
Huge tensions over the ECB rate cut, with a split on the board and many German economists protesting. As usual, a lot of it is about the perception that those lazy southern Europeans are getting a free ride:
A commentary by the chief economist of the financial weekly Wirtschaftswoche called the decision a “diktat from a new Banca d’Italia, based in Frankfurt”.
Why can’t those Italians etc. pull up their socks the way we did?
What Germans — economists as well as the general public — still don’t seem to get is how much Germany’s success at emerging from its late-90s doldrums depended on a somewhat inflationary boom in southern Europe. And they therefore also don’t realize how much damage Germany is imposing by refusing to allow higher eurozone inflation.
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Σχετικές Αναρτήσεις
- Cohen-Setton, J., (2013), “Blogs review: The deflationary bias of Germany’s current account”,Bruegel, 06 Νοεμβρίου.
- Münchau, W., (2013), “Optimism about an end to the euro crisis is wrong”, The Financial Times, 27 Οκτωβρίου.
- Münchau, W., (2013), “The eurozone needs to get inflation up again”, The Financial Times, 10 Νοεμβρίου.
- Watt, A., (2013), “Bad and Good News on Euro Area Inflation”, Social Europe Journal, 16 Οκτωβρίου.