Somehow, Everyone Now Blames Germany For Their Debt Disasters

oktoberfest, germany, ap 122109

European laggards such as troubled Spain and Portugal are directing much of their debt-crisis angst at Germany, rather than their own failings.

Even France is blaming the Germans for what is going on, according to Der Spiegel.

Other Eurozone members are calling out Germany on its competitively low wages that they simply can’t compete with.

Meanwhile, many Germans are saying that their neighbours “live beyond their means” and failed to adjust to the global economy by making their labour markets more flexible.

It all comes down to Germany’s export advantage, which it says has little to do with economic positions and is instead a result of its high quality goods. Also, internationally-speaking, German wages are anything but low.

This European blame game is what could make any long-term Greece solution elusive.

Now, with a deal agreed, it remains to be seen what sort of economic concessions the Germans have had to give up, if any.

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