Hypocrisy

"In fact, it is doubly ironic that Germany chastises its neighbors for their “profligacy” but relies on their “living beyond their means” to produce a trade surplus that allows its government to run smaller budget deficits. Germany is, in fact, structurally reliant on dis-saving abroad to grow at all. Current account deficits in other parts of the euro zone are required for German growth. It is the height of hypocrisy for Germans to berate the southern states for over-spending when that spending is the only thing that has allowed Germany’s economy to grow. It is also mindless for Germans to be advocating harsh austerity for the south states and hacking into their spending potential and not to think that it won’t reverberate back onto Germany."

Read : http://www.counterpunch.org/2011/12/05/there-will-be-blood-2/.
 
I don't know whether this is completely true and I don't care. It may be grossly overstated but it sounds right. We have to keep those Germans in check.
 
Peace.