For those of us who are worried about the Greek bailout and generally rising levels of government debt, you no longer have to worry if you're German. What Angela Merkel has described as an "unprecedented feat" will save the nation 80B euro's or $96B. How will this be accomplished?
"The proposed cuts to benefits, by contrast, look brutally concrete to many Germans. The government plans to eliminate a heating subsidy for the poor and to stop paying welfare beneficiaries’ contributions into the pension system, saving €1.9 billion a year. Such cuts are defensible: the contribution subsidy raises pensions by a negligible amount, for example. But while shaking down the unemployed, Mrs Merkel proposes to spare the rich."
If it's any consolation to all you Wall Street apes, part of the plan involves green energy. Not the kind that relies on renewable resources, the stuck-to-the-back-of-Homer-Simpson's-shirt kind. Well, whatever, for practical purposes people will always argue over nuclear power. At least we know the Germans have the quiet reserve and dignity to debate this civilly. Except they don't.
"The Bavarians are “wild pigs”, said an FDP official in the health ministry; the liberals are “bush leaguers”, shot back the CSU’s general secretary."
Well Germans are known for their goofy, boisterous, slapstick sense of humor. I'm sure they're only joking. Laughter will warm the hearts and houses of all the poor Germans who will no longer have a home heating subsidy...
Nihil ut id officiis officiis adipisci. Cumque porro aut quam et distinctio. Asperiores blanditiis velit quis voluptatem.
Est et molestiae ut mollitia. Voluptatum qui et aut at illum doloribus officia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...