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27 February 2010
EUROZONE: Blaming Slow Growth...On Frugal Germans.
WASHINGTON POST/ A new hypothesis for the EU's debt crisis is growing popular among some economists. They say that frugal Germans are to blame for the slow growth in the Eurozone. They point out that a big part of economic growth in Germany was fueled by spending in Greece, Spain, Portugal and other European nations after they adopted the euro. The solution is additional consumption and less saving; that if Greece needs to slash spending to restore the Euro, then Germans must buy more of what their neighbors make.