Die Strohfeuer staatlicher Konjunkturprogramme bringen mittelfristig wenig bis nichts - außer weiter steigenden Schulden.Translated it says: Straw fire stimulus= more debt = bad. That sentence is basically the whole mantra of neoliberal thinking in the crisis. But to be really good at it a few more sentences help:
The word by word translation to this is "increased reform pressure is therefore essential" what it actually is, is an excuse for every bad outcome:
Erhöhter Reformdruck ist dabei unerlässlich.
- Youth unemployment increases? Acceptable since it increases reform pressure.
- High risk premiums? Excellent sign of direct reform pressure.
- Stagnating industrial production? Increased reform pressure is necessary.
Und es geht nicht nur um Sparen, sondern vor allem um die Freisetzung des Potenzials unserer Volkswirtschaften durch Strukturreformen.
Structural reforms liberate the potential of economies... stuff.. yadayada. See? We already have reached the point where you don't even have to try to make sense. You can, knowing the above two sentences, start uttering gibberish, that isn't based in reality. Your policies have lead to a worse long term performance than during the great depression? Potential! More?
Dass dieser Ansatz Früchte trägt, zeigt sich am Beispiel der hoch verschuldeten Mitgliedsländer Irland, Spanien und Portugal.Portugal, Spain, Ireland -> SUCCESS of neoliberal thinking (I am not making that up!)
Auch Industrieproduktion und Exporte kommen wieder in Fahrt.
Do I even have to translate that? It is pretending that complete stagnation for 13 years (perhaps that is a bit unfair, they can only be made directly responsible for the aweful last 3 years) is positive since in Spain the first derivative is up (the decrease in industrial production has decreased HELL YEAH!), and Portugal saw the first positive month yoy in one and a half years.
- steigende Schulden
Kratzs drruff die Struckturreform krum. Moar Reformdruck zack steigende Schulden. Privatwirtschaft fritz gut.
because there is no great neoliberal thinker out there that makes any more sense than that. Today the ECB corrected the already bad outlook for the euro zone down form -0,5 % GDP "growth" to -0,6 %, the German new orders were abysmal, and just that day some FDP politician comes along and tells us about the "success" of the policy responsible for that. Thanks. Next up: the European Commission applauds itself for 13 years of