Barack Obama is to press German chancellor Angela Merkel to support a growth package to help bail out Europe at the G8 summit this weekend amid fears in the White House that the eurozone crisis could damage the president's re-election chances.I mean sure, by this point a growth package is virtually humanitarian relief, but there is one gigantic flaw in such a appeal -- Germany didn't become the major supporter and enforcer of "austerity" for nothing:
Germany's economy grew by a stronger-than-expected 0.5% in the first three months of the year despite Europe's debt crisis...
Germany remains a standout performer despite Europe's troubles with too much debt in several countries. Unemployment is low and exports of manufactured goods such as cars and machinery remain robust.It's almost as if that was all part of the plan.
Good luck with that one Barack.
[cross-posted at Firedoglake]