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I'm no fan of Steinbrück, even less of Glos. But, Münchau isn't merely a misdshipman on HMS Europe.Is.Doomed, but a Korvettenkapitän of SS Deutschland.Geht.Unter, so I had to check the original quotes. One by one:

1.

Peer Steinbrück, the German finance minister, declared that Berlin would reject any co-ordinated EU-level response on the spurious grounds that Germany would have to pay a quarter of the costs.

While Steinbrück indeed signs anti-Keynesian tunes, I find something a BIT more nuanced...

Steinbrück lehnt Mehrausgaben zur Konjunkturstützung ab | Inland | Reuters Steinbrück rejects extra spending to bolster economic growth | Domestic | Reuters
Deutschland habe auch auf Druck der EU bei der Budgetsanierung Fortschritte gemacht, sagte er am Donnerstag in Berlin. "Und weil wir relativ erfolgreich gewesen sind, sollen wir jetzt Zahlemann und Söhne spielen", kritisierte er. Von jedem Vorschlag, der gemacht werde, müsse Deutschland in der Europäischen Union ein Viertel finanzieren. Viele Vorschläge, etwa halbe Steuersätze für Autos, würden aber enorme Unwuchten hervorbringen und brächten nichts.Germany made progress in the budget rehabilitation under pressure from the EU, he said on Thursday in Berlin. "And because we have been relatively successful, we should now play Payman & Sons," he criticized. Germany as part of the European Union must finance one fourth of each proposal made. Many proposals, say halved tax rates for cars, would spawn enormous imbalances and bring nothing.
Die Finanz- und Konjunkturprobleme würden sich nicht auf einen Streich lösen lassen, sagte Steinbrück: "Es gibt diesen einen großen Rettungsplan nicht."The financial and economic problems cannot be solved at one go, Steinbrück said: "This one big rescue plan does not exist."

His argument is, essentially, that he won't be rushed into doling out money for a badly throught-through package. Quick! Fast! No time to think about it! ...is indeed both shock capitalism style and Sarko's grandstanding style; and there is a lot of crap in that package, so I tend to think that at least here Steinbrück is reasonable.

2.

Last week Mr Steinbrück said there would be no new stimulus when the coalition chiefs meet in early January to discuss the crisis. He wants to see how the present stimulus package is working. This suggests that no decision is likely until February or March at the earliest.

Quick, fast, don't think about it! Now for what you find in the German media:

FTD.de - Abfederung der Krise: Erste Hilfe für die Konjunktur FTD.de - Damping the crisis: First Aid for economic growth
Weitere Maßnahmen zur Stärkung der Konjunktur lehnt Steinbrück zwar offiziell noch ab. Doch intern lässt Kanzlerin Angela Merkel (CDU) schon mehrere Vorschläge prüfen. Noch vor den Klausurtagungen der Parteien Anfang Januar werden die Partei- und Fraktionschefs von CDU, CSU und SPD zusammentreffen, um die Marschroute für ein zweites Konjunkturpaket festzulegen.Though Steinbruck still rejects further measures to bolster economic growth officially, internally, Chancellor Angela Merkel (CDU) already has several suggestions checked. Even before the closed conferences of the parties in early January, the party and faction leaders of the CDU, CSU and SPD will meet to lay down the marching route for a second economic stimulus package.

3.

In a typical demonstration of the country's beggar-thy-neighbour attitudes, Michael Glos, the economics minister, said last week: "We can only hope that the measures taken by other countries ... will help our export economy."

I failed to find the Glos quote -- the one which led to your diary title. The closest I found was Glos's comment on the Chinese stimulus package when meeting the visiting Chinese trade minister:

Chinas Konjunkturprogramm sorgt für Kursfeuerwerk | Wirtschaft | Deutsche Welle | 10.11.2008 China's economic stimulus program causes stock market fireworks | Economy | Deutsche Welle | 10.11.2008
"Ich glaube, daraus ergeben sich auch gute Liefermöglichkeiten und Geschäftsbeziehungen für deutsche Unternehmen""I believe that good supply opportunities and business connections for German companies will result from it, too"

If this is what Münchau 'translated', it is a pretty thin basis for his beggar-thy-neighbour claim. Meanwhile, things Glos did say on the subject was two things: a claim that according to his internal information, the German economy is sound with the sole exception of the car sector; and he promised to provide the financial guarantees exporters need but banks presently aren't too willing to give.

I note I found an interview with Glos where he disagrees with Steinbrück and Merkel's view that tax cuts won't boost consumption. The theme of tax cut demands was also jumped on by the CDU's über-neoliberal, Friedrich Merz. (Glos is from the Bavarian CSU, whose main conflict with the coalition partners at the moment is over its demand to extend inheritance tax exemptions to higher incomes.)

I also note that despite all the dire warnings about German exports, the latest numbers (for September) actually showed an increase.

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Tue Dec 2nd, 2008 at 04:57:07 PM EST
Bundesregierung online, Speech of ... Glos


Der reale Zuwachs betrug seit dem Jahr 2000 nur zwei Prozent. Jetzt wird der Exportmotor aufgrund der internationalen Finanzmarktkrise leider in den Rückwärtsgang geschaltet. Wir haben keinen Einfluss auf die Exportnachfrage. Wir können nur hoffen, dass die Maßnahmen, die andere Länder ergreifen, unserer Exportwirtschaft helfen. In diesem Zusammenhang denke ich zum Beispiel an das große Investitionspaket Chinas, von dem wir uns Aufträge erhoffen, und an die Maßnahmen, die die USA eingeleitet haben.

Eines können wir allerdings tun - an dieser Stelle bin ich mir mit vielen einig -: Wir können die Binnennachfrage durch zusätzliche Impulse stärken. Genau diesem Ziel dient unser Maßnahmenpaket. Wir erhoffen uns davon eine möglichst große Wirkung auf Investitionen und Konsum. Wir stärken also Angebot und Nachfrage gleichzeitig. Ich glaube, das ist die richtige Antwort auf diese schwierige Situation.


Glos has said these words, but not in the context of doing nothing else, but specifically in the context of export demand.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers
by Martin (weiser.mensch(at)googlemail.com) on Tue Dec 2nd, 2008 at 05:12:52 PM EST
[ Parent ]
Thanks! One can't rely on Google: I correctly guessed and used "nur hoffen", "andere Länder" and "Exportwirtschaft" as search terms, but had no hit on this release.

My fear at this point is that there will ultimately be a second package, but one dominated by Glos's and Merz's tax cuts, some corporate welfare, some aimless consumper spending boost, and nothing sensible.

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Tue Dec 2nd, 2008 at 05:26:20 PM EST
[ Parent ]
Just for clarity: Merz (and Glos) are hinting at permanent tax cuts.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Tue Dec 2nd, 2008 at 05:32:35 PM EST
[ Parent ]
I used google at the workplace, there it goes to google.com and found it.
At home it uses google.de, and no results for the same search terms, unless I click on "Google.com in English".

I don't know which google.XX you use, but I agree that it is unrelyable, if the .com version finds a German gov't page and google.de doesn't.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers

by Martin (weiser.mensch(at)googlemail.com) on Tue Dec 2nd, 2008 at 05:37:01 PM EST
[ Parent ]
I used the German-language news search. Funny, because in prior searches, I did have official government press releases among the hits. Maybe for some idiotic copyright reason, it was taken out?...

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Tue Dec 2nd, 2008 at 05:48:25 PM EST
[ Parent ]

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