Maastricht embedded Germany's strong money ideology - one we had to live with already anyway - not the anti-tax anti-government one.

What? This was in Maastricht already:

Overdraft facilities or any other type of credit facility with the European Central Bank or with the central banks of the Member States (hereinafter referred to as `national central banks') in favour of Union institutions, bodies, offices or agencies, central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of Member States shall be prohibited, as shall the purchase directly from them by the European Central Bank or national central banks of debt instruments.

That is German anti-government ideology.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman

Nothing in the euro treaties prevents you from increasing corporate tax, income tax or whatever else - only corporate lobbying and ideological trends.

If debt is above 60% GDP and deficits would have to exceed 3%, then it is actually Maastricht that forces you to settle on increasing taxes in the middle of a recession. And increasing taxes in a deep balance-sheet recession is wrong. Therefore, the Maastricht Treaty forces us to take wrong macroeconomic policy decisions by outlawing certain options.

See Is Keynesianism now a thoughtcrime? and also Fiscal rules going mad ....

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman

Maastricht embedded Germany's strong money ideology - one we had to live with already anyway

"We" being limited to countries who are sentimentally attached to a particular D-Mark exchange rate.

Prior to entering the Euro, Greece, Spain and Italy did not share such silly superstitions.

- Jake

Friends come and go. Enemies accumulate.

Germany seems convinced hard-money policies will produce the same sort of soft landing it enjoyed (alone in the world) after the Panic of 1873 provided it can find someone to land on.  Listen up, Greece, no luxury taxes on those Beemers you import.  I wonder when Germany will remember that it got through that period so smoothly due to the huge stimulus program it implemented to build public infrastructure.