Germany Does Not Want To Experience The Nightmare of Metropolis

Germans want to increase interest rates above 1.25% in June the next time the European Central Bank meets, but some concede that they must take into consideration the needs of the “pigs” like Ireland, Greece, Spain, and Portugal. They must forego a rate increase in June and wait until at least July in their never-ending quest to keep down the rate of inflation — and avoid a Metropolis-like meltdown of the EU.

Germany has been terrified of hyper-inflation since the early 1920’s when it helped to lead to the rise of the Third Reich and the defeat of the nation in World War II. But they have to temper their fear with their desire to unify Europe into an economic machine with Germany in the lead and one currency, the euro.

Trichet made this announcement from the European Central Bank Headquarters in Frankfurt, where he is soon to be replaced by Mario Draghi, according to the article “Europe Hits Pause On Rates” in the Friday, May 6, 2011 Wall Street Journal.

Germany must make sure that its economic engine doesn’t begin to resemble the devil-like creature in the 1920’s art film, “Metropolis” by Fritz Lang that consumes workers and perhaps poorer nations like Greece that together produce only 6% of Europe’s output.