More Scapegoating the Germans

From today’s Open Europe news summary:

Separately, the leader of Silvio Berlusconi’s MPs Renato Brunetta told Italian daily Il Messaggero, “The German Chancellor [Angela Merkel] is destroying the euro and Europe. After provoking two World Wars, Germany has triggered an economic war which has only caused destruction.”


This is what happens in any socialist organization.  When the internal misconstructions reveal themselves, the scapegoating begins.  The root cause is never identified, because no one wants to think and no one wants to admit that the entire project was an enormous mistake.  In this case, the Germans are being blamed for upholding the Maastricht Treaty restrictions on the European Central Bank’s prohibitions against buying sovereign debt.  These restrictions were supposed to prevent the very condition that has been allowed to happen; i.e., the socialization of debt among all the eurozone members.  But the irresponsible nations, like Italy, want the ECB to shower them with fiat money forever.  Today is never the right time to get one’s financial house in order. This accusation by the leader of that crackpot Silvio Berlusconi’s party is as odious as it is fallacious.  The Italians ought to be ashamed of themselves.  Germany should get out of the eurozone; then the irresponsible nations that remain will see the real enemy–themselves.  Patrick Barron

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