Germany is right...

Was ist das? Screamed the Germans when they heard of Britain’s idea to cut VAT rates. The German finance minister, Peer Steinbrück) criticised Britain’s plans to cut the VAT rate which would mean a whole generation would pay off and added as a remark would you buy a DVD player if it was lowered by less than a pound during the recession. No. So the VAT cut does not help anyone. And now everyone has turned against Germany demanding that they contribute some of their (hard earned) cash (may I add) to the recession because they were not conservative with their spending.

Why should Germany help? It’s Germany’s money and they should keep it. Maybe I’m being insensitive because in Cyprus the recession has not been that bad compared to other countries. However, I don’t see why Angela Merkel should sign away her country’s money to other EU states because they are going bankrupt. France has been pressuring Germany to cough up with Sarkozy saying that while France works, Germany thinks. I love the French but please don’t tell me that they work when they take days off like it’s going out of style and when they have the most national holidays! What? Now France decides to work. Merkel must b doing something right saying no to Europe as she still retains something ridiculous like 95% ratings in her party polls.

America has practically been printing money to save well… everything… Fannie Mae and Freddie Mac, the banks, the motor industry… and it has got them nowhere – so how will adding on more billions to the package help Europe? And why should Germany do it?

To rub the Europeans up further, not only are Germans happy to have Merkel reject the EU’s demand for more cash but they are not going to cut back on their Christmas shopping as… they don’t have to. Their economy is still robust, so why should they? Of course there are political reasons too – Germany goes to the polls in September, and no one will change tax rates before Christmas… but still… this time (as it usually is when it comes to money) Deutschland hat rechts.*

*And I hope my German grammar is right too!