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Germany's Debt Spiral: Bundesbank Chief Breaks Silence
Germany's Debt Spiral: Bundesbank Chief Breaks Silence
Submitted by Thomas Kolbe
It’s not every day that top officials of the German Bundesbank take an explicit stance on daily politics.
Nagel’s stark warnings about Germany’s debt and the government’s creative accounting were surely met with grim recognition in Berlin’s corridors of power. Open criticism is rare there, and when it comes from credible insiders, it stings even more.
Bundesbank President Joachim Nagel
Chancellor Friedrich Merz and his Finance Minister Lars Klingbeil apparently still believe the fairy tale that debt-fueled demand policy can create economic miracles,...
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