Tuesday, March 16, 2010

Greece's crisis, Germany's gain - latimes.com

Thomas Meaney and Harris Mylonas at the Los Angeles Times write that Greece's crisis is Germany's gain. It is an nteresting viewpoint showing how German power - in our opinion, rightly - is increasing in Europe.

Some countries criticize the Germans for being so export-oriented, but the fact is, if a country does not produce much of anything that is competitive on the international markets for goods and services, then it is pretty much doomed to be a net importer of such goods and services and to be an exporter of labor and raw materials. This is what has happened to many of the nations on the fringe of the core of the European Union. Germany, on the other hand, produces so many high quality items that it is no surprise that its exports are in the plus column.

Hat tip to CaryGEE.

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