Angela Merkel, the Chancellor of Germany (Photo credit: Wikipedia)
This is an excellent and MUST READ article from Spiegel. Check it out!
German Government to Test Stimulus Instead of Austerity – SPIEGEL ONLINE.
If I understand the Spiegel article correctly Germany is ready to invest in Southern Europe in a sort of mini-Marshall Plan. This would appear to be a major turning point in German policy on austerity. This is a very shrewd move from Germany and will be welcomed with open arms in Southern Europe. It’s early days so far but it looks like Spain will be a test case.
If Angela Merkel can perform a U-turn on austerity, surely David Cameron and George Osborne can do the same?
Any thoughts?
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