A clever book by Paul Kirchhof
Paul Kirchhof has written a clever book. His criticism applies to the German government debt. It analyzes the issues in depth and presents concrete solutions to escape the debt trap. There are incredible numbers. For example, according to the plans of the Ministry of Finance this year, Germany’s debt will rise to more than 2.2 trillion euros of debt, which is an equivalent to a debt ratio of over 83 percent.
Germany would have to repay more than € 800 billion in order to achieve the EU-wide total allowable debt 
level of 60 percent of gross domestic product. With a total tax revenue of the Federal Republic of € 530 billion is expected it to be almost impossible. Now it can be said: We are deeply in debt. If we put it cynically, it would mean that Germany is a failing enterprise. The tone was always friendly, of course.
In his interesting book “Germany in Schuldensog”, Paul urges a speedy return of the government borrowing to zero and for a reduction in deficits. Germany has the debt problem is not currently. Ultimately, it is good to know that a stability of money without a stability of the law is not achievable.
The bulk of the book revolves around concrete proposals on how to strengthen the state again. Here are some quotes: „New debt can be avoided if the budget balances revenues and expenditures without new loans“. This legal norm would be achieved if the German parliament would retain its authority over the budget. Also, if be implemented protect against desires of other states and the reach of the financial market. German lawmakers should refuse grants a country whose per capita debt is cheaper or similar to their own debt. It comes to a clear protection of “financial transaction tax”, which is both exchange and OTC financial transactions.
To get out of the debt trap, it is necessary to be moderate the government spending. It is recommend, to be put more revenue in the future as and work focused on reduction of liabilities. Grants to other governments, banks and manufacturing companies should be made only on reciprocity: So, if a state had rehabilitated the other would have to support them after refurbishment by financial services, credit and interest rate discounts or free shipping of products.