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Policy Dictated By Prejudice

|Includes:BUND, EUO, EWG, FGM, FXE, Global X MSCI Greece ETF (GREK)

Kudos to Jorgo Chatzimarkakis, a MEP with Germany's Free Democrats that recently declared his intention to resign from German politics "over his country's treatment of its European partners." Mr. Chatzimarkakis noted how

As noted by him, "Politics should respect people and not only geopolitical and financial interests." And this type of politics has dictated Germany's approach to the European sovereign debt crisis, spearheading its efforts to implement endless rounds of austerity on other troubled Eurozone partners. Austerity has failed and produced not only economic decline, but also societal disintegration throughout the European continent. Yet Germany's continued insistence on its implementation shows that it is blinded by a selfishly misguided economic ideology that, in the long run, will prove worse for everyone involved.