Europe Waits for Germany to Come to the Rescue - The Times
18 May, 2009
Last Friday the European Commission published what were arguably
the most catastrophic economic statistics produced by any official
institution in the capitalist world since 1945. These figures
showed that Germany has suffered the steepest economic collapse
ever recorded in a major industrialised country; and that several
of the countries in Central Europe and on the periphery of the
eurozone are now in a state of economic and financial meltdown
comparable with Argentina, Indonesia and Russia in the 1990s or
with Iceland last year.
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