The Poverty/Wealth Rhetoric is ratcheted up

Spiegel Online translates 4 page article that leads the German edition of Der Spiegel, 15 April 2013 called  The Poverty Lie: How Europe's Crisis Countries Hide their Wealth.

Reprises the ECB household wealth study and expands into areas such as tax evasion, informal economy with a narrative that ordinary Germans are paying too much and something needs to be done to seize more assets from the asset-rich in Europe's 'crisis countries'.


Surprisingly vehement in its defence of the German tax payer and its attack on the asset-rich southern europeans.  Also makes a lot of German sacrifices from the hyperinflation of the inter-war years to post-II World War 'expropriations' from Germans and costs of reunification.


There are qualifications but they do not seem to get in the way of the broader narrative which ends by asking for a special wealth tax (Bofinger) on crisis countries and more taxes from rich Germans (Wolff).

Write a comment

Comments: 0