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...
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:
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:
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.
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.
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.
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.
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 MenschenVolker Pispers