17th August 2011

This was anticipated by Mindful Money blogger Shaun Richards, as he said on his blog last month: "There has been a media rush to say that the UK's recent economic performance has been much worse than elsewhere but as I have pointed out today many of them have troubles too.

"We do not yet know the extent of how much their economies have slowed as we await their growth numbers for the second quarter of this year."

And as long as the Eurozone woes spread, and for as long as clouds have loomed over the region, people have been commenting on the crisis to determine where the fault lies, and what is going wrong. Now it seems even Germany could be added to the mix. 

For example Greece, says Mindful Money's economist blogger Shaun Richards, is certainly not the architect of its own misfortunes – many of the Eurozone countries need to see change occur; not just Greece.

Sovjohn comments on Shaun's blog: "…would anyone contemplate the position the "bailed out" countries find themselves in? The mantra that "They are to blame, so shush" is inadequate, in my ears."

Shaun replies: "I see it as a country that needs some fundamental reforms and a complete change of its political system. However many countries need that including the UK."

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