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BILD: Greece to Blame for German Pensions Disaster!

Could stupidity and agitation make humans rich, some people were billionaires today. Greece’s best Yellow- Press-friend Bild newspaper, quotes this German professor H.W. Sinn , chief of Ifo Institute, claiming that Greece is to blame to German Pensions Disaster. Without any puncture-proof senseless Sinn claims with a loud shot in the dark:

“What flows to Greece and Portugal, in order to maintain the standard of living will be charged to the living standards of the Germans. The German pensioners will be among the first victims of the bailout.”

I can still very well recall the whole debate in Germany in the beginning of the 1990’s. The occasional problem of the German pension funds is simple: the working generations comes up for the pensions of the older . When the average German family has 1,5 child, thus 4-5 million  people are jobless and live from state welfare support no wonder that the pension funds run empty from time to time.

German Blog Sima in a post with the Title  “BILD finds a scapegoat for the German pension Disaster: The Greeks are to blame! makes the issue clear:
  
Well,  a culprit was found. For the German pension system is so short or so before death, and aliens as culprits could not be found so far So, let’s take  “the Greeks”. To repeat briefly:
 
1) The German pension system is pay as you go. That means those who are now in work for the pensions of those who are retired. If fewer people have jobs and at the same time more and more people retire, then it comes in a very near future to ensure that a worker has to feed 2-3 pensioners. he who wants to feed his  own family has to successfully play the lottery.
 
2) All this will not improve, as more and more people are living on welfare. And that the number of “welfare recipients” in Germany is now larger than the number of those who develop the income of the “welfare recipients”.
 
3) In the future the pensions of the civil servants system will make things even more chaotic: They come from households in the most part still do not, and provisions for it (ie savings), there are not three times already. It is particularly interesting that after the 68-pseudo-revolution there was massive recruitment in the public service. Those civil servants will retire soon. The march through the institutions needs  retirement and it has not taken precautions.
 
What  do these policy errors and structural problems have with Greece?
Right. Nothing.
 
It is true that Germany pays too much to the EU and that the money is missing in Germany massively, for example, for a reasonable pension for people who work out the billions. But that’s been around for decades so when measured against the billions paid to it, it should be called ‘Europe’s fault. ”
 
Politically not opportunistic, but of course a small country fits well in the scheme. Not to mention that  the operation  “rescue Greeks” aims not to save Greece, but the banking system.
 
But for BILD newspapers, important is not a factual representation, but the search for a scapegoat. On whose behalf are also getting the “image” as is on the road. In German history, unfortunately there are examples that the search for scapegoats has never ended well.
  
The question remains: did Sinn said what he said or just BILD twisted it?
 

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2 comments

  1. It looks like Bild, like always with that rag, was cutting some corners. This http://www.chinadaily.com.cn/opinion/project/2011-07/04/content_12830313.htm article by Sinn might be more accurate?

  2. how “stupid” can you get!!!!