It is now time for Berlin to realize that, at the moment, only Germany can afford to have austerity in its fiscal policy: all the other countries are just unable (or simply not willing) to do that
(original publishing date: 10/14/14)
It may be interesting to ask a German what he/she thinks of the following chart:
Or even better, this one:
Either Germany cannot really be persuasive enough, or this is just the wrong historical moment to ask for austerity in the Euro Area.
Either way, austerity (the TRUE austerity) is simply not there.