It seems they won’t have a chance in elections right now but things might change, specially if there is going to be some bailout between now and september.

“Two third of Germans believe Merkel has handled eurozone crisis “properly and decisively”; 59% of Germans no longer believe their savings are secure following Cypriot bailout”

http://www.openeurope.org.uk/Article/Page/en/LIVE?id=11175&page=PressSummary

Bruno Frey has not given up and has now (jointly with his wife Margit Osterloh, who recently initiated a boycott of the Handelsblatt rankings) been among the first to sign a public appeal against the UBS donation): http://www.zuercher-appell.ch/index_en.php

1. Private sector is trying to deleverage (save net financial assets)
2. Governments are trying to cut deficits (cut income flow to privete sector)
3. Government deficits add savings to private sector
4. It doesn’t look like eurozone can export Its way out of trouble (neither Germany)
5. When private sector saves, It means it is consuming less, demand collapses

This is exactly what we are going to see in euro zone, full blown depression, possibly breaking up currency union.

Germany thinks that exporting is a virtue. What It really should do to keep the whole thing together is to put Greeks to work for itself. How? we are not on gold standard, money is created by double entry bookkeeping. Build a factory in Greece and let them produce say military equipment for itself. Exports are cost and imports are benefit in real terms. Yet they don’t understand this in Germany. They exported bunch of stuff to other eurozone countries, they got nothing real in return (only numbers in bank accounts) and now It doesn’t benefit them to see 25% unemployment in those countries where they exported to. Americans are way sharper in this area but they are out of paradigm too. I don’t understand why Germany is such a technologically advanced nation like It is, and history has proven time and time again that they don’t know how to do anything constructive with their technological achievments and knowledge. They are doing all the destruction in Europe again this time and they will end up humiliated again if they coninue like this. There is no way this austerity could work. US dollar could never work if It was not for fiscal transfers in between the states. There was a similar situation in US in between South and North
Best of luck
Kristjan from Estonia

It’s been well known that imperial Britain favored free trade over mercantilism precisely because it was the most economically competitive at the time. Economic theories of the day followed suit, supporting free trade. Idem with American economics today. Gramsci, Amin, Bourdieu. Baudrillard, Horkenheimer, Adorno and numerous others have explained adequately and in great detail how class interests perpetuate ideology. No conspiracy is needed, money creates its own laws. Just about every well educated person understands this except economists who are not educated at all beyond their discipline. After 30 years in the profession I have yet to meet more than a single other, lonely and isolated, practitioner who had read any of these classics.