• Often, the crisis in the eurozone is analyzed from a moral point of view in which virtuous German policies are juxtaposed against spendthrift peripheral countries.
• If only all eurozone countries would be like Germany and things would be ok, seems to be the upshot of that position.
• In reality, not all countries can be like Germany and we invoke the work of Michael Pettis to show that German policies partly caused the eurozone crisis.

If Only The Countries In The Eurozone Periphery Were Like Germany | Seeking Alpha