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My point is that why did they join is not an argument. They did it ostensibly for the wrong reasons.

Also, countries have not opposed Merkel more forcefully because doing so "might be un-european" or something. In the Spring of 2010 Sarkozy reportedly (later deniedly) threatened to quit the Eurozone there and then if Germany didn't agree to a Greek bailout. Also Zapatero should have realised the "European friends" were not his friends at all, but he probably couldn't fathom it (Here is a fully sourced contemporary diary to anger you). Less than a year after that, Socrates and Zapatero even saw it fit to shun a PES summit in order not to be seen as "not playing ball" with the Eurozone powers that be.

I call this Stockholm syndrome. You may disagree. What it isn't is a rational macroeconomic policy.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 11:56:44 AM EST
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And I call it blame shifting. And scape goating.

The actual policies of the european countries - as opposed to the policies you thin they should pursue - matter very much.

>You may disagree.<

Very generous.

>What it isn't is a rational macroeconomic policy.<

Have I said so?

by IM on Sat Feb 18th, 2012 at 12:04:54 PM EST
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And I call it blame shifting. And scape goating.

Accusing Zapatero of being spineless and clueless is blame shifting?

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 01:33:07 PM EST
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Yes. Of the "the emperor is good-intentioned. But just listening to evil councilors. These evil councilors being in the pay of foreign interests" sort.
by IM on Sat Feb 18th, 2012 at 01:42:23 PM EST
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Funny you should say that.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 01:52:52 PM EST
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 Jordi Sevilla, alias Jürgen Schulze, german agent.
by IM on Sat Feb 18th, 2012 at 01:54:17 PM EST
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He's just as neoliberal as the SPD.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 02:03:54 PM EST
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As to ZP's cluelessness, do you know about the anecdote of the "two afternoons"?

There was a notorious "open mike" gaffe between Sevilla and Zapatero. Zapatero had made some rookie mistake in a public statement as opposition leader and Sevilla said to him "don't worry, I can teach you all you need to know in two afternoons".

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 02:06:22 PM EST
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To teach the tenets of practical neoliberalism, two hours will do. Perhaps another hour for the third way dressing.
by IM on Sat Feb 18th, 2012 at 02:14:01 PM EST
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Well, I could also conclude that ZP was evil or traitorous. Would that be better?

After all,

The day after ZP won the elections on March 14, 2004, the cry of the youth on the street was Zapatero, no nos falles (Zapatero, don't let us down). [After May 15, 2011], it's Zapatero nos falla y nos reprime (Zapatero lets us down and represses us).


tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 02:29:03 PM EST
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