Angela Merkel Criticizes U.S. Government

November 26. 2008

German chancellor Angela Merkel and China's president Jintao

German chancellor Angela Merkel expressed her disapproval with the Bush administration’s financial policies that led to the current U.S. financial crisis, which is negatively impacting other nations of the world. This is indeed a massive global problem. However, it is not one that is insurmountable. Financial controls need to be put in place to prevent something like this from transpiring again and reform must begin with Washington and Wall Street, where the problem originated.

Congressional senators

Financial territories such as China, Russia and the Middle East have been so shaken by this crisis, they do not trust Washington and Wall Street anymore in this realm and are actively seeking other currencies and markets to build their investments on. Unless the U.S. government successfully cleans up corporate America and regains the financial world’s trust, this will spell big problems for the nation.

Merkel criticises US over crisis

Angela Merkel, the German chancellor, turned the tables on her international critics on Wednesday by accusing the US and other governments of making “cheap money” a central tool of their economic management, thus planting the seeds of a similar crisis in five years.

“Excessively cheap money in the US was a driver of today’s crisis,” she told the German parliament. “I am deeply concerned about whether we are now reinforcing this trend through measures being adopted in the US and elsewhere and whether we could find ourselves in five years facing the exact same crisis.”

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