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As a German myself, I must admit that this is the case. The current attitude of Mrs. Merkel is popular in Germany and also other EU countries are mad about Gre
by PythonicAlpha 11y ago
As a German myself, I must admit that this is the case.
The current attitude of Mrs. Merkel is popular in Germany and also other EU countries are mad about Greece, because they improved their finances with much effort and did not get that much care as Greece did.
And yes, it is right, that Greece carries a lot of fault in this problem, since they forged their financial data. And I even think, that it was a big mistake, to take Greece into the Euro, because the country was and is not ready for it.
But, I fear, that now dropping Greece, after five years of endurance -- and Greece took really a heavy load (eg. many pensions where cut 45% or more) -- will revert, what people thought, the Euro will bring: To unite Europe and prevent further wars.
The financial crisis already has brought many new bad feelings between countries. When kicking out Greece now, because we insist in our own financial thinking (Greece has to privatize that, do that, do that, cut spending, cut, cut ... cut), we risk that next maybe Italy or Spain could fall and more and more bad feelings between countries. And we risk to loose the Euro in the long run.
We should focus on a solution now, that last for a longer time and does not bring new problems in the future (as was done five years ago --- everybody knew, that the load was to much for Greece to carry, but nobody dared to look for a long-time solution).
Of course, a new haircut (as everybody knows, will be necessary now) will cost more money -- but without a haircut, Greece will leave the Euro and all the money that was guaranteed from other EU countries will be lost. So even the short-time cost will be much higher -- the cost of bitter feelings and financial dogma. For Merkel it can also be the cost of votes (because she always looks for the voters -- but in this case, stupid looking for votes can be horrific for Europe as whole!)
The long term costs can be even higher: Loose what was thought to be won by the European idea and it even can be, that we loose the Euro in the long run.
I fear, by thinking, we must kick out Greece now, to limit the costs, we even have higher costs in the long run. We add another error on a long run of errors made in the Euro case.
- jacquesm 11y agoThis is exactly the dilemma the politicians are wrestling with, that + re-election.