Bemoaning Sensible Behavior--the New Argument of the Feckless

Germany's frugality bemoaned for inhibiting euro zone growth By Anthony Faiola Sunday, February 28, 2010; BERLIN -- Greek extravagance touched off the biggest crisis in the 11-year history of the euro. But the world's most ambitious monetary union faces a less obvious problem that might be even harder to lick -- German frugality.  

Well, that certainly is a problem that must be quickly stamped out, lest it lead us back to the good old days of a world in which being sensible and practical was a virtue. That damned Germany. World's largest exporter, a nation of 80 million whose heels are being nipped by a nation (China) sixteen times its size. . . .

Yet in the years since, a significant part of economic growth in Germany, analysts say, was fueled by a surge of spending in Greece, Spain, Portugal and other European nations after they adopted the euro. In fact, a jump in sales of everything from BMW sedans to Miele washing machines in other parts of Europe helped make up for the lack of spe…