The Corner

The Next Shoe (Ctd)

Via the Daily Telegraph:

A clutch of political and labour leaders in Germany have raised the spectre of civil unrest after the country’s leading institutes forecast a 6pc contraction of gross domestic product this year, a slump reminiscent of 1931 and bad enough to drive unemployment to 4.7m by 2010.

Michael Sommer, leader of the DGB trade union federation, called the latest wave of sackings a “declaration of war” against Germany’s workers. “Social unrest can no longer be ruled out,” he said.

Gesine Swann, presidential candidate for the Social Democrats, said “the mood could turn explosive” over the next three months unless the government takes drastic action.

Some hype, sure, but . . .

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