Generally I like the Germans, they are good employees: straightforward and direct, if they say they'll do something they will.
But thinking about what's happening in Europe now and how the Germans have behaved in the past, they have a fatal flaw: a lack of spontaneity, of changinging direction or deviating from a plan.
Look at the 2nd world war: they carried on to the bitter end even when all was lost even though they could have saved millions of their own lives.
Or look at the Euro crisis: they have this idea of how the Euro must be run and they are not changing their mind as events change. Its obvious for example that the ECB must buy Italian and Spanish bonds in large numbers (i.e. QE) rather than piecemeal, to give those countries breathing time. But no they ain't going to do that. And thereby will cut off their nose to spite their face.
The thing is, as Asian investors and others are judging, Germany is between a rock and a hard place: come out of the Euro and watch exports fall as the DM appreciates or stay in and one way or another bail out the PIIGS.
The least worst option is if they let the ECB be the bank of last resort and accept some inflation.
But thinking about what's happening in Europe now and how the Germans have behaved in the past, they have a fatal flaw: a lack of spontaneity, of changinging direction or deviating from a plan.
Look at the 2nd world war: they carried on to the bitter end even when all was lost even though they could have saved millions of their own lives.
Or look at the Euro crisis: they have this idea of how the Euro must be run and they are not changing their mind as events change. Its obvious for example that the ECB must buy Italian and Spanish bonds in large numbers (i.e. QE) rather than piecemeal, to give those countries breathing time. But no they ain't going to do that. And thereby will cut off their nose to spite their face.
The thing is, as Asian investors and others are judging, Germany is between a rock and a hard place: come out of the Euro and watch exports fall as the DM appreciates or stay in and one way or another bail out the PIIGS.
The least worst option is if they let the ECB be the bank of last resort and accept some inflation.
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