Angela Merkel Cheers as Germany’s Budget Surplus Hits Record Right: Let’s Pretend

(Before It's News)

mishtalk.com / Mike “Mish” Shedlock / February 23, 2017 1:58:16

Thanks to negative interest rates at the ECB, record low unemployment, and a desire to maintain a balanced budget, Germany’s Budget Surplus Hit a Record High since reunification in 1991.

Chancellor Angela Merkel is singing a happy tune, but the austerity message will not play well with most of the Eurozone.

Germany’s statistical office on Thursday reported the country was in the black by €23.7bn last year, with local, state and central government coffers benefiting from record-low unemployment and ultra-cheap debt finance stemming from the European Central Bank’s mass purchases of sovereign bonds.

Chancellor Angela Merkel’s government, which has vowed to maintain a balanced budget as a cornerstone of its economic policy, hailed the larger surplus. “These figures show that Germany is doing well,” said Jens Spahn, deputy finance minister. “We invest more than ever — and still have surpluses.”

READ MORE

The post Angela Merkel Cheers as Germany’s Budget Surplus Hits Record Right: Let’s Pretend appeared first on Silver For The People.

• The “Washington Monument Syndrome” Strikes Again as Trump Imposes Hiring Freeze
• Underperformance in Gold Stocks Argues for Interim Peak
• CNN Responds To Being Blocked From White House Press Briefing
• Late-Day Panic-Buying Sends Dow To Longest Record Streak In 30 Years
• Data Fraud At Chinese Province Suggests Local GDP Numbers As Much As 20% “Overcooked”
• Here’s What Happens When Trump Finds Culprit Behind Flynn Intel Leaks
• White House Denies Axios’ Report Which Denied Reuters Report About Trump’s Border Tax
• 9 Lessons From The Reagan Tax Cuts
• French Prosecutor To Open Official Probe Into Francois Fillon’s Embezzlement Allegations
• Are Big Banks’ Dark Pools Behind the Run-Up in Bank Stock Prices?