Also: Munchau on the SPD (01.08.2013)

In the first instalment of a four-part series on the election platforms of the main political parties in Germany, Wolfgang Munchau expressed disappointment about the SPD's platform, and criticises the almost exclusive emphasis on financial sector reform to the exclusion of everything else. For once, the proposed reforms do not even address the main financial sector problem - that of undercapitalised banks. But what is really disturbing to Munchau is that this once Keynesian party has now fully bought in to the neo-classical policy consensus in Germany, and accepts further fiscal retrenchment without any discussion. The SPD thus offers no macroeconomic alternative policies at all. He says those who support Angela Merkel have no reason to fear Peer Steinbruck. But those who do not, have no reason have no reason to vote for him either.

Note that Münchau ran a 4-instalment series on the economic programs of the major German Parties. 4, because Die Linke was not included.

Finance is the brain [tumour] of the economy