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I guess Weidmann hasn't read Faust 2 either. If he had, he would have noticed the country suffering from austerity before Mephistopheles comes up with his plan, and the neighbouring countries about to invade it. After a bout of inflation, things calm down, and, in the next scene, the new prosperity shows everything going fine, with some squandering the money, but others using it to get out of debt etc.

As Wedimann should know, having certainly read Faust 1, Mephistopheles is the one who "stets das Böse will und stets das Gute schafft." Draghi, Merkel and all the rest seem more determined in showing us what the road to hell is paved with.

Weidmann's misreading of Faust pales when compared with the FT, of course

Mr Weidmann did not highlight another cautionary tale from the play for economists. Faust in the final earthbound scene comes up with a plan for universal prosperity and happiness ... and promptly dies.
by gk (gk (gk quattro due due sette @gmail.com)) on Fri May 30th, 2014 at 11:27:15 AM EST
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