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No it hurts Germany too, just not nearly as much as the rest of the eurozone. The only ones who were helped here were Russia an China from the ECB putting their
by BenoitEssiambre 8y ago
No it hurts Germany too, just not nearly as much as the rest of the eurozone. The only ones who were helped here were Russia an China from the ECB putting their main rivals in shambles.
Any gains Germany gets from overly tight money are temporary and transient. Running a disastrous monetary policy to indirectly improve Germany's loan terms is an insanely destructive thing to do both to the indebted countries and to the weaker parts of Germany's own economy.
Not allowing people to work and destroying their countries' economies greatly increases the chance these countries are going to default or restructure parts of their debt. This is not to Germany's advantage.
Having neighbors with poor economies is bad for your exports and your own businesses.
In the long run Germany would have had much to gain if people of Europe had functional investment markets and funding was available to buy the tools necessary for people to work and produce instead of strangulated markets.
Having a single currency could have worked (as it works in the US) if it was not managed like they were trying to destroy the west.