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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
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