News from Germany is that the German government has decided they have to do something to have an economic stimulus in the periphery of the Euro zone. Spiegel On Line has some details.
Nothing in the report suggests that the program will be big enough to do much good.
It still looks to me like the Euro has been a bad idea, poorly executed. There is not an adequate mechanism to move funds from prosperous to less prosperous areas. The distress in the periphery was not caused by government spending, but by banks. In many cases, German banks.
This is not going to work, but it may drag out for a long time as the European Central Bank tries a series of what will prove to be inadequate measures.
I could be wrong - but I don't think so.
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