It is fundamental principle of the British law that you are innocent until after you finish playing for England at the Euros.
So if I understand correctly, German are to blame for taking good care of their finances, being much more prudent than their European neighbours, for having a welfare state, public services and infrastructure that provoke jealousy in any visitor from Europe because they did not make the mistake of trying to buy them on the never-never. They are to blame because unlike all the other country, they have a long-sighted vision, are careful therefore did not build up the mountains of debt, both private and public, which bear down other countries.
So now German households and firms are to blame because unlike others they can borrow without being punished by the bond market vigilantes but they have money because they work for it, because they bet on good quality industry and not financial services.
Germany is a rich country because it has been much better governed than her peer group. Some reckless German financiers laid stupid bets, but the banks were not allowed to hazard the rest of the economy in quite such a shocking way as banks were in France, Greece, Iceland, Britain and America.
And now they have to pay for everyone. I find it strange that people think taxpayers should not pay for the irresponsible poor people who have debts but that’s exactly what Germany should be doing.
I find outrageous that David Cameron who spends all his days repeating to the British that he will not change course in his austerity programme, a programme that is driving UK back in recession…I find outrageous that he goes to lecture Merkel on how important it is for her to be flexible and not so stubborn about austerity.









