| > You should take a breath and chill with the Jingo. I had to look up what that means. I'm not German. Now what? > So yeah, let's have that. Yeah, let's. Italian pensions are about 90% of the former salary? Germany is 50%. Italians make higher payments tough as well.
The difference is, Germany is doing that from a much lower debt ratio. Temp workers are a thing in Germany as well, they get no inion representations. And again, the difference here: German economy is doing well. Sure the Ruhr existed, have you been there lately? Crazy decline since the 70s. Wasn't a coincidence that the heaviest german metal bands come from there. > The main difference is that Italy made a few bad choices in the '80s Exactly. That's why they have this huge debt now, which results in the whole Eurozone shaking whenever interest rates go up. That's why we had low interest rates, which the Germans were very unhappy with. Draghi tried to work on that, but now he is out. Seems like a right to far right coalition might ein the election in the promise of flat tax and not raising retirement age. Will that be the Germans fault as well? > Let's build the United States of Europe, everyone doing their bit so we can fulfil the federal dream and be done with these petty rivalries from 200 years ago. Yes, please! But that only works if everyone is in and works on themselves. I don't thinkt the attitude of blaming everything on the Germans is very constructive either. |
Well, then you've absorbed a biased outlook pushed mostly by the German press.
> Italian pensions are about 90% of the former salary?
Ahaha, they were, maybe, 30 years ago. This has long changed, but obviously these changes take generations to be reflected in stats - and we're obviously not going to kill existing pensioners.
> Sure the Ruhr existed, have you been there lately?
Does it matter? You said the German miracle was achieved with 0 natural resources, and I've just proven that statement to be utterly false - which should maybe prompt you to revise your positions.
The truth is that Germany powercharged its economy with coal; since then they've been good at maintaining that advantage, but it's undeniable that they had an advantage like few other European countries. Another advantage is a largely flat surface that makes it very easy to build transport infrastructure, something much more complex in mountainous areas like most of Italy, Spain, and Greece. In fact, it's half a miracle that Italy developed complex manufacturing districts in the Alpine valleys.
> Draghi tried to work on that
Pretty much every Italian PM since the 90s tried to work on that, with various degrees of success. As shown by the Twitter thread linked in another post, Italy actually shrunk their debt faster than any other country over the last 25 years, with wide-ranging cuts. But 80s stereotypes refuse to die even in the face of facts, generating self-fulfilling prophecies in the speculative markets. It's in everyone's interest, including northern countries', that these stereotypes be removed from the public debate. If this cannot be done, sharing debt is the only other option to stabilize a currency from which norther countries benefit disproportionately. And that's what the ECB is effectively doing, measure after measure. It should have been done 20 years ago, as many people asked; but apparently doing it the hard way was politically necessarily, so here we are.