, 3 tweets, 1 min read Read on Twitter
Gonna pile on here.

Germany made the euro area's 11-12 slump worse by doing its own (unnecessary) fiscal consolidation. That made life more difficult for its partners, not easier -- as the entire block lacked demand.

Here is a chart -- Germany made a fairly substantially direct contribution to the euro area's fiscal consolidation in 11 and 12, and didn't help in 13 either.
One thing about German slowdown: the fiscal policy that is right for Germany now is also the fiscal policy that is right for the euro area ...

Coordination should be a bit easier (in theory)

An old blog that is relevant:

Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Brad Setser
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!