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Theo Weigels' merry men wrote the 3-percent deficit limit into the Maastricht Treaty.

Germany opposed any effort to work towards an EU-wide bank resolution scheme when the shit hit the fan in late 2008.

Germany opposed fiscal stimulus as the G20 in 2009 on the grounds that "automatic stabilizers were sufficient" only to spearhead the destruction of the EU's welfare state and social compact when the said automatic stabilizers pushed deficits well above 3% EU-wide as they couldn't possibly fail to do in a deep recession.

Germany has for 2 years and increasingly transparently pushing a laundering a bank bailout through Greece, in the process destroying the Greek economy and making the Greek debt situation worse with each  crisis "resolution" proposal.

Germany is pushing treaty reforms and policy proposals at the EU level which have nothing to do with the causes of the crisis and do nothing to resolve it.

For "Germany" read "Merkel and her government" above if you must.

Now name another country and we can go through the ways it has contributed to the crisis.

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 Sun Feb 12th, 2012 at 06:09:07 PM EST
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