Germany rebuffs Obama's advice; tells Obama to take care of things at home..Slap-Down or Not?
Space Invader
2012/06/25 15:50:52
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BERLIN (AP) -- Germany's finance minister is rejecting U.S. President Barack Obama's calls on Europe to move faster in fighting its debt crisis, telling him to get the American deficit under control instead.
Wolfgang Schaeuble told public broadcaster ZDF in an interview late Sunday that "people are always very quick at giving others advice."
He says: "Mr. Obama should first of all take care of reducing the American deficit, which is higher than in the eurozone."
Obama and other leaders fear an escalating crisis in Europe could drag down the world economy.
The 17-nation eurozone is struggling to overhaul its institutions and streamline its decision making to restore investors' confidence. The bloc's debt relative to its economic output stands at about 80 percent, while it is about 100 percent in the U.S.
http://www.sodahead.com/unite...
Never send a boy to do a man's job.
Further the scumbag Romney advisory wrote a German Language article in a German news paper telling Germany to take certain actions that would hurt the American economy.
Germany also has a massive amount of debt.
My favorite solution is for Germany to quit the Euro. Problem solved.
The devalued Euro would help the other European nations export more and Germany would benefit from the cheap EU imports for a while. That is the way the world is supposed to work.
Investment is now moving from Europe to the US, since despite our own problems, we are increasingly seen as the safer bet. The downturn of Europe will affect us yes, but in a surprising way it is also benefiting us. The world has gone back to investing here instead of Europe.