Share this story
Close X
Switch to Desktop Site

The German economy

Regarding the front page article "When German Rates Rise, Europe Listens," and the news articles "Stronger German Mark Deepens Italy's Debt Crisis" and "France Plays Down German Move in Bid to Dispel Jitters Over EC," July 22: The financial problems facing Germany, and the whole of Europe, stem substantially from the poor policies followed by Bonn's agency for privatizing former East German properties known as the Treuhand.

In its frenzy to relieve Bonn of burgeoning debt by liquidating property confiscated by the former East Germany, the agency blatantly disregards the rights of the original owners. Such properties should be returned to the rightful owners when possible, or those owners should be paid just compensation when not. This would allow free enterprise to function and not extend a government financing scheme thus far apparently doomed to failure. The sooner this can be accomplished, the sooner real unity and progr ess can begin both in Germany and throughout Europe. Margrit Zimmerman, Seattle

About these ads

Letters are welcome. Only a selection can be published, subject to condensation, and none acknowledged. Please address them to "Readers Write," One Norway St., Boston, MA 02115.

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.