There is a widening gap between Germany and the rest of the Euro Zone. While France has to pay more to finance their debt and is in danger of having their AAA rating lowered, while Italian bond rates soar, while Greece is mired in political turmoil over the terms of the Greek bailout, and Portugal and Spain don’t fare much better, Germany is getting ready for a tax cut.

The tax cut will go to low to middle income tax payers. Berlin is able to pay for this because of a windfall created by an accounting snafu. Six billion euros will be returned to the German populace w who complain about having the fruits of their labors distributed to wastrels in the south of Europe.

At the same time the unemployment rate is the lowest in two decades. The fiscal deficit fell below 25 billion euros. The German budget will be balanced by 2016.

No one else in Europe can say as much. But then the truth of the matter is that the euro is the German mark in a very thin disguise. That’s why all the other countries wanted to participate in it. They wanted to be lifted up to Germany’s economic standards. But is it possible to sustain?