liveonearth (liveonearth) wrote,
liveonearth
liveonearth

German Austerity Pays Off

The German economy is bouncing back from the recession with more vigor than the rest of Europe, based mostly on exports of automobiles and machinery. Other EU nations saw fit to provide bailouts to whoever, same as the US did. The Germans kept the purse strings a bit tighter. They paid to keep people in jobs, and at the same time kept labor costs low. And they clung to Quality. Here, we have cheap plastic shit and plenty of time to watch TV.
Tags: economics, europe, germany
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