Eurogroup statement Stewart Fleming: Cru Default: Change to:. In an op-ed for the NYT, Sinn writes that some critics have argued that Germany, having benefited from the Marshall Plan, now owes it to Europe to undertake a similar rescue. Those critics should look at the numbers, he says. Comments: No Comments for this Article.
Add new comment Show name and company details. Public Information. Graham Bishop Consultancy. Friends of GrahamBishop. Brussels 4 Breakfast. Graham Bishop - Biography. Graham's Blogs. Graham's Media Activities. Graham's Speeches. The latter have said the airlines in question aren't really playing fair, saying their business model is to crowd out competing airlines at any state cost.
Before the pandemic, the three carriers had grown disproportionately for years. Aeroflot Group, which includes Russian flag carrier Aeroflot, Rossiya and Pobeda, is another case in point. It is But you don't really have to look far to find more airlines in this category.
Right now, there are roughly state-owned carriers around the globe, according to Wikipedia. It's not the rule, though, as there's an impressive total of about 5, airlines globally. Visit the new DW website Take a look at the beta version of dw. Go to the new dw. More info OK. Wrong language? Change it here DW. Already a subscriber? Monitor journalism changes lives because we open that too-small box that most people think they live in. We believe news can and should expand a sense of identity and possibility beyond narrow conventional expectations.
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Skip to main content Skip to main menu Skip to search Skip to footer. Search for:. Manage subscription. Subscribe to the Monitor. His argument has also influenced political debate in Germany.
The underlying research of this impact case study has, at its core, Professor Ritschl's new interpretation of the post-war Marshall Plan. Contrary to widespread public perceptions, U. What gave the Marshall Plan its lasting effect was a combination of sweeping debt relief for Germany and a far-reaching political agenda for European integration. This debt forgiveness laid the foundation for Germany's fast post-war recovery. Germany was reconstituted as an export-led economy, committed to orthodox fiscal and monetary policies.
Fiscal and monetary conservatism, greatly facilitated in its implementation by the debt relief, served to curb domestic consumption and generate persistent trade surpluses [2].
These affected the resource transfers to Western Europe that reparations after World War I had failed to generate. Professor Ritschl's research characterizes the post-World War II order as the result of lessons learnt from the failed post-war settlement after World War I [3, 5]. America's European allies sought to complete, by economic means, what military action had left unfinished.
The limits of this policy became apparent in the German hyperinflation of and the French occupation of the Ruhr, which failed to discipline Germany [3]. As a response, America stepped in to stabilize Germany under the Dawes Plan of , bankrolling its currency and providing fresh credit. This exercise of dollar diplomacy led to a German borrowing binge, causing the U.
Attempts were made to tighten credit conditions again and force Germany to pay out of surpluses. But instead of restoring stability the austerity policies now imposed on Germany brought about her entry into the Great Depression, an ignominious end to reparations, a sovereign debt default, and the collapse of democracy [4]. This was an experience that the Americans were determined to avoid repeating post To make this incentive acceptable to Germany, large parts of these transfers were financed through private capital exports, allowing the Germans to rebuild their foreign asset position.
To incentivise the Europeans to play along, the provision of Marshall Aid was made conditional on the recipient countries' acceptance of a debt moratorium for Germany, which was formalised after the Marshall Plan expired.
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