More grown up debate from Tobes. Or maybe not
On Boxing Day, Tobes took to Twitter to regale his adoring fans (whomsoever they be) with his latest discovery in the promotion of his own particular anti-EU cause. “The problem with Europe's socialist parties is that they refuse to recognise this problem” he declared. What problem could this be? Why, the Eurozone percentage of debt to GDP had risen from 84% in 2010 to 92% last year, which clearly proved something.
Sadly for Tobes, it proved nothing about socialism: the motor of the Eurozone economy, Germany, has been led by a centre-right Chancellor since 2005, either as part of a centre-right coalition, or as part of a “grand coalition” with the centre-left. Given that Angela Merkel has been Chancellor throughout that period, it can only be assumed that the centre-right was at all times the dominant coalition force.
Other Eurozone countries have had centre-right Governments throughout that period, such as the Netherlands. France, Italy, Spain and Portugal have had centre-right Governments for part of that period. Perhaps Tobes would like to show how centre-left parties have “refused to recognise” the problem of an increasing percentage of debt to GDP? But his fans will be waiting a long time for that one, because he can’t.
Worse, once again Tobes looks at an indicator of debt and proclaims that is is something about which we should be concerned. This is weapons grade bullshit on three counts. One, the percentage of debt to GDP has in the past been far higher - in the wake of World War 2 it was in excess of 230%. Two, other developed nations sustain far higher debt percentages - Japan’s is well over 200% - and nobody sneers at them.