Germany Is Becoming Delusional

BERLIN – In recent days, Germany’s representative on the European Central Bank’s governing council has expressed strong disagreement with the ECB’s decision on November 7 to cut its benchmark interest rate. Now the European Commission has opened an investigation into whether or not Germany’s huge current-account surplus is causing economic damage in the European Union and beyond. This investigation and criticism of Germany’s export-based growth model has incited outrage in Germany. Is Germany becoming a scapegoat for Europe’s problems, or is it really out of step with the EU and the world economy?