Thursday 22 February 2018

Keep it real

• In recent times it is fashionable to blame the Germans for the fact that other countries in Europe, ourselves included, are in financial difficulty and are suffering from austerity.

In his article on May 16, however, Hamish McRae tells us all we need to know about why Germany is doing well and some of the rest of us are bankrupt.

He tells us that over the years Germany embraced austerity and "clamped down on wages, brought in sweeping labour market reforms, cut its budget deficit, and boosted exports". And this was after the Germans achieved the huge task of integrating the old German Democratic Republic into their economy.

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