Joerg From Germany with some feedback on my German post yesterday. I don't think he's quite right to be so cynical, I thinks it's worse, I think they actually believe it. Anyway, it's a promise, if the 'treasury view' turns out to be right, and we have a significant German growth spurt next year (note the careful choice of words) it's online photos of me in sackcloth, and if I'm wrong enough, the ashes too!!
I would love to get a picture of you in sack cloth.
However, let´s wait and see. If the Bartsch/Sinn/Economist expectations for Germany do materialise, this would, of course, be welcome. But it shouldn´t give anyone the idea that some substantial change took place and led to an alteration of the course of events, a shifting of paths or the like. The health care reform certainly doesn´t qualify as a major restructuring. If growth returns, we will have to attribute that to the economic cycle. The politicians themselves seem to be convinced that
they didn´t achieve anything much - so it may be Bartsch and Sinn were just tired of singing the same old tune.
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