Will Germany Beat the U.S. to Recovery?Moira Herbst
It has been a rhetorical battle of Anglo-Saxon vs. Continental capitalism. Since the onset of the economic crisis, German leaders have scored political points by railing against the flaws of the U.S. and British economic systems, even as counterparts such as U.S. President Barack Obama and U.K. Prime Minister Gordon Brown pressed for bigger economic stimulus packages. Just this month, German Economics Minister Peer Steinbrück warned that the "casino capitalism" practiced in overseas financial centers will resume without stronger regulation.
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