The Euro Crisis and Germany’s Collective Denial of the Truth

This is the (updated) translation of an article that was issued February 11, 2015 on flassbeck-economics. We intend to publish one article in English every week to allow more readers to follow closely our analysis of global and European events.

The same game has been played in German politics and in the German media for many years now. It reflects itself in many ways and through many avenues, but the main message always remains the same: any German blame for the euro crisis is denied, all the others are at fault, and only one country did everything right. One of those media preaching German innocence every day, Der Spiegel (and its online branch), recently came up with a new banner: ‚Do not fear the truth.‘ Der Spiegel boasts that it has seventy people constantly checking every word of every article that is written including on the euro crisis. Not only is this bizarre in itself, it is also a completely wrong approach to journalism. When, for example, McKinsey published a paper on global debt that was devoid of reason and intelligence (see here for the link (LINK)), Der Spiegel uncritically reproduced it. [...]

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