Posted on 11/11/2002 4:02:18 PM PST by knighthawk
It may be just seven weeks since German voters re-elected Gerhard Schröder as chancellor in a red-green government, but as reality as caught up with the gullible, it seems like light years. Illusions have been shattered on a daily basis. Of the rosy projections and promises of the campaign, nothing is left. German headlines are filled with blank allusions to electoral fraud.
On practically every front failures are evident. Revenues are stagnant as expenditures continue to rise. Unemployment figures are racing toward a new high. The problems plaguing social security have not been overcome, as thought. Concepts such as "solidarity" and "justice" have taken on a hollow ring.
It may be that the situation will improve as the new cabinet settles in, but the signs are not encouraging. Schröder's chancellorship has shifted into the arms of the labor unions. Once the main pillar of the unified currency, now, if other countries followed Germany's lead, it would be the death of the euro. Schröder's labor market reform manages unemployment, rather than creating jobs. Under current conditions jobs simply cost German employers too much, and the solution - real liberalization of the labor market - is rejected on ideological grounds.
Not a good time in Germany, with more bad tidings to come. It is a harsh reality, and yet the reality chosen by the voters.
If people want on or off this list, please let me know.
A Germany in economic decline will start spending into deficit to save itself. France, no economic powerhouse these days, will have a fit.
On the other hand, there's good ol' Tony Blair who'd dearly love to be Pres of the EU -- and the UK's economy is looking pretty good. Hmmmmmm. Never mind.
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