Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
"Uh, by not clearing €-Mark transactions with other countries and reissuing D-Mark notes."

€Mark? Petty.

And that is an illusion. You are basically arguing that because the Bundesbanks sometimes talks as if the still matter, they still matter. But they don't. Sticks and stones will break my bones, but words can never hurt me.

"s, that's what I wrote: The German government and the BuBa pitched a hissy fit, and the rest of the EPP-PES shut up and fell back in line. You seem to be claiming that they would have done so even if Merkel and the BuBa had not pitched a hissy fit"

So the right-wing government of say the Netherlands are closeted Keynesians or even MMT people? And the act like they act only under german duress?

"Didn't say that. I said that neither understands national accounting. Which is true."

"National accounting" has nothing to do with taxation levels. The higher levels of taxation in the scandinavian countries or (somewhat) Germany is the result of prefered policies. As Bofinger pointed put, you can't run a good state on the tax levels of the US or Ireland. That has nothing not with current account balances; Ireland is running a surplus and a big budget deficit.

by IM on Sun Aug 14th, 2011 at 07:40:44 AM EST
[ Parent ]

Others have rated this comment as follows:


Top Diaries

Grexit and Propaganda

by Metatone - Jun 29

Ready for tomorrow?

by Luis de Sousa - Jun 28

Iron Curtain Mark 2

by DoDo - Jun 23

Yap essence of money

by das monde - Jun 26

End game for Greece?

by Frank Schnittger - Jun 20

Welcome to post racial America*

by melvin - Jun 15

Recent Diaries

Occasional Series