The ECB and Germany are both bent on austerity measures where as the root of the crisis lies in the balance of payments crisis in the Eurozone. No matter what formula the two may workout the financial crisis will only worsen till the ECB and Germany cast aside their proclivity towards austerity drives and recognise and address the balance of payments crisis. Hope Germany wakes up and casts aside it's moralizing dictum before it's too late.
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