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euro subsidies to german exports and greek buyers

“But, by way of illustration, what this means is that every Mercedes that Germany exports is effectively offered to customers with a “20 Percent Off“ sign plastered on the front window -- and here's the killer -- at zero cost to the manufacturer.”

Of course, this requires special attention to a couple of lines in the linked article:

“... Germans...do benefit from the Euro in the short and medium term...”

and what is unsaid (misunderstood) in the short item:

“...Greek public which, according to polls, is massively in favour of retaining the Euro...”

Of course, individual Greeks want cheap Mercedes. The debts tend to land at the banks and the sovereign.

Of course, individual Germans want to keep their jobs making tat,
but Germany won’t get ‘their’ money back in the longer run.

To the individual Greek and German, the costs are externalised in the short term.
And most people are very short-sighted.

related material
EMU (European Monetary Union) and inflation – a civil liberty issue

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the web address for the article above is
http://www.abelard.org/news/politics_eu_062012.php#euro_subsidies_310712





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