And just what is the German austerity plan?
http://www.time.com/time/world/artic...995113,00.html
"...
"The government should have postponed the cuts until the economy is really back on its feet again," Gustav Horn, director of the Macroeconomic Policy Institute in Düsseldorf, told TIME. He said the austerity plan was "piecemeal," made up of "real cuts in the social security system but halfhearted cuts to business," and pointed out that the financial-market-transaction tax was conditional on other countries' adopting it. "Chancellor Merkel could have introduced a tax on the wealthy and tougher measures against the banking sector — that would have made a difference," said Horn. Germany's focus on deficit reduction could end up affecting the global recovery..."
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