The new media strategy of Angela Merkel is reminiscent of a Monty Python episode: outright denial is key. If the German chancellor is asked anything about that “damn little thing called austerity”, she opts for semantics: “You know, in Germany we did not have this word until recently.” This precious quote was given to reporters at a press conference last week after Mrs. Merkel met with Italy’s freshly minted prime minister Enrico Letta. Yet there is reason to believe that Germany’s iron lady knows quite well what austerity is. Austerity is her business. Austerity is the strategy that explains Germany’s present success. Austerity is what allowed Germany to win the “Euro War”.
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