TIME WE HAD AN ANSWER TO THE QUESTION: “What’s Germany moaning about?”

What will it take to make Berlin happy?

Nobody – but nobody – has done as well out of the euro as Germany. Whereas the vast majority of eurozone members experienced a revaluation upwards of the currency as a result of adopting the single currency, changing from the Mark to the Euro represented a steep devaluation of its trading currency for Germany. Below we see this graphically represented against the two big ezone basket cases, Italy and Greece:


Berlin was thus handed a free gift in terms of cheap exports….and boy did it take advantage. As a result of switching to the euro, it has almost entirely kept its share of world trade. But below we can see how everyone else (including its Finnish lapdog) did really rather badly out of it:

Germanywins2No other eurozone country, in fact, has made so much money out of joining the euro and then exporting to elsewhere outside the eurozone. So much so, in fact, that Germany is now the world’s biggest exporter by value….in effect – one might say – the world’s biggest multinational corporation.

It has raped ClubMed with a farcical austerity programme, broken endless codicils in the Lisbon Treaty, lied to the IMF, refused to compromise, ignored democratic votes….but still it quibbles while the euro burns.

It never paid my country, France, Russia or Greece a penny in reparations after the War. It got more Marshall Aid than anyone. It had its debts written off after 1952.

Today, it refuses to repay in kind.

So I repeat: it’s time we had an answer and a rationale to the obvious question, “What have you got to moan about?”

22 thoughts on “TIME WE HAD AN ANSWER TO THE QUESTION: “What’s Germany moaning about?”

  1. In other words, Germany fits the Anglo-Saxon economic model better than the Anglo-Saxon countries…

    … as to getting off their debts in 1952, Greece did try that in 2015 but the Americans put their foot down, didn’t they?


  2. The Eurozone is mad.
    “Greece has already agreed to perhaps the most severe neoliberal harshness measures ever imposed on a country other than conquered ones raped and pillaged by war.
    Not enough says German Finance Minister Wolfgang Schauble. He demands more. The Financial Times said his ministry sent Eurozone counterparts a paper outlining his objections.
    They’re now meeting to decide whether to accept or reject already agreed on bailout terms. ”


  3. This just points up the problem of the Euro Zone. Germany looks out for Germany and the Greek people think they can do better inside the Euro club so they suck it up and vote for 50 years of debt slavery. However no one is looking out for the entire Euro zone. The Euro Zone as a political entity does not and never has existed, it’s pure fiction.


  4. John, According to Wikipedia

    ” The largest recipient of Marshall Plan money was the United Kingdom (receiving about 26% of the total), followed by France (18%) and West Germany (11%). Some 18 European countries received Plan benefits.”

    Where do you get your figures from? Just askin’


  5. Off the cuff!
    The UK kept it,s dept going? The WW2 Loans and Leas/Lend stopped the instant the war came to an end.
    The Irish Reps&Sens slid something past the new prezi! for signature.


  6. Good point Seamus. My reading of history and research indicates that Britain spent the money on the National Health and the Welfare State. The cancellation of debt was linked in the 1950s was linked to the Soviet Threat and the Iron Curtain and the role of the United States in the cancellation of that debt.

    No one forced the Greeks to spend up big on tanks to counter the threat of the Turks, to buys cars and electronic goods and to build up debt. Freedom to choose has a lot to do with the mess they got themselves into not to mention the oligarchs, the role of the Orthodox church, the tax breaks given to some and not others, the generous pensions and the general muddle of the Greek economy. The election of the new government, the referendum and the role of the Vasafoulis in the negotiations also has to be considered, He behaved like a joke and they ate him alive.


  7. John: Germany did not get more Marshall Aid than anyone. The British got the most Marshall Aid of any country in Europe, as historian Corelli Barnett explains here:


    It is a complete and utter myth that you are continuing there. Britain, ironically in the context of this posting, pissed most of it’s Marshall Aid away trying to remain the lender of choice to the Sterling Area of the British Empire. The Germans built factories and industry, reconstructed their cities and modernised their railways.

    Britain patched our railways, built the modernist craphole that is Coventry, nationalised everything in sight and built a welfare system.


  8. Greed … once you have everything you will never ever give it up. With potentially a Brexit, maybe a Grexit or some other exit if Germany carries on with its path of greed basically it destroys the EU but then … with no EU superstate to support it Germany will not last long.

    German greed in a nutshell and what happens if they do change .

    If asked where this concept arises, from a world of finite resources, overpopulation and unlimited greed is what inevitably breaks the economic mechanism down once again and where all the strife and turmoil is going to come from.

    So even if a person starts off with best intentions once greed takes over there is no way back.


  9. Seamus
    Lest we forget, the UK SPENT more money than all other European allies put together, provided 76% of the troops on D-Day, and didn’t stop paying lend-lease until 2006.


    Large quantities of goods were in Britain or in transit when Washington suddenly and unexpectedly terminated Lend-Lease on 29 August 1945. The British economy had been heavily geared towards war production (around 55% GDP)[4] and had drastically reduced its exports. The UK therefore relied on Lend-Lease imports to obtain essential consumer commodities such as food while it could no longer afford to pay for these items using export profits. The end of lend-lease thus came as a great economic shock. Britain needed to retain some of this equipment in the immediate post war period. As a result the Anglo-American loan came about. Lend-lease items retained were sold to Britain at the knockdown price of about 10 cents on the dollar giving an initial value of £1,075 million.[5]
    The reason I had a memory of this: It caused a real shock to many folk … Having your shoulder tapped and conscripted quite late into the war especially those who were having a good war job/money wise!…It had quite along lasting effect and caused quite lot of bitterness.
    The bad feelings towards foremen who did the tapping lasted for years!
    I do tend to fire from the hip and the memory aint what it used to be.
    But it tends to have close relationship with the truth.


  11. He would not and did not return to Spain until that … Franco croaked.

    This is from his years in the wilderness. (Manhattan hotel on 55th Street).


  12. Thank you. It is nice to be supported by facts rather than to be simply told one is ignorant. I look forward to a considered post on what did cause the Greek debt. So far I am busy reading one in the London Review of Books. Perhaps it too is ignorant?


  13. “It never paid my country, France, Russia or Greece a penny in reparations after the War. It got more Marshall Aid than anyone. It had its debts written off after 1952.”

    You, Sir, are either unbelievably uninformed, or a lier.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s