In The Berlin That Obama Didn’t See in the WJS Online, Bret Stephens describes the Berlin that Obama should have noticed.

A brief summary:

Berlin is bankrupt as a result of profligate spending, poor fiscal management and a “government can do it all” attitude. The budget supports municipal salaries much higher than most other German cities, more zoos and opera houses than it needs. The city owns 270,000 housing units (which it could sell) and unemployent is at 17%.

The city is on the verge of bankruptcy.

print