Germans Hate Economic Bailout Of Greece
Posted by Stephen Cline on February 15th, 2010EU finance ministers struggled to voice out measures to bring the Greek economy in track and effect a plan for the economic bailout for the beleaguered Greeks. But Germans were surveyed as being highly skeptical and critical too of this move. There is a huge perception in Germany that while belt tightening measures had been adopted in Germany, for long the Greeks had been avid spendthrifts. Thus, there is resentment among the Germans about their government having to effect the economic bailout of an irresponsible government and economy too. It is like ‘robbing Paul to pay Peter’. While a lot of people may speak of European unity and cooperation, it seems that the lines across borders will take a long time to get erased.
But most analysts feel that the larger economies of Germany and France will agree to some economic bailout measures for Greece, because having economic chaos in a country is a very frightening and forbidding prospect indeed. There were a lot of voices that chided Greece as it had been using American companies and securities firms to hide its debt. While German voters may frown at economic bailout for Greece, it is quite true that Germany will take on the lead role in correcting the mess down there in Greece.
Tags: economic bailout, Greece