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Shouldn't we be asking how it is that the Germans are able to be so "lazy" and still well paid, with low unemployment?

I suspect that Merkel's to attached at the hip to her FDP buddies to recognize that the answer isn't "free markets."

It's a sad thing that the Germans aren't promoting the policies and economic arrangements, e.g. the social market economy, that have worked so well for them for the EU as a whole.

For each hour worked, the German economy got $47.56 (2005 constant PPP), while the Greeks only got $30.45, the Spanish $40.34, and in Portugal each hour worked produced $22.18.

If the EU were a sensible body interested in creating convergence towards a higher standard of living, the concern would be about how to increase productivity.  Together with an agreement to restructure debt into GDP linked bonds (only principal) this could have a a real impact.

Fix the real problems in these economies, and give them debt restructuring in return.    

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Wed May 18th, 2011 at 10:31:21 AM EST

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