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Friday 12 December 2008

What are you afraid of? Ze Germans?

Actually, Gordon really ought to listen to them. When he dismissed Peer Steinbruck's criticism of Labour's economic policy as 'internal party politics' because of the Grand Democratic Coalition in Germany, he didn't anticipate being contradicted at the source by Steffen Kampeter, Angela Merkel's Chancellor.
Mr Kampeter said: "Peer Steinbruck's comments have nothing whatsoever to do with internal German politics, as Prime Minister Brown has suggested. In questioning the British government's approach, Peer Steinbruck is exactly expressing the views of the German Grand Coalition. After years of lecturing us on how we need to share in the gains of uncontrolled financial markets, the Labour politicians can't now expect us to share in its losses. The tremendous amount of debt being offered by Britain shows a complete failure of Labour policy."
Despite all of this, David Milliband raised his head above the parapet to claim that the Germans backed UK policy.

No David, they don't. They are willing to provide fiscal stimulus, but they are not prepared to borrow vast amounts of money to do so. How about you go back to Gordon and explain to him that since borrowing got us into this mess, maybe trying to borrow our way out of it isn't quite such a good idea.

UPDATE - Quote added.

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