Friday, 3 August 2012
Merkel is profoundly disturbed!
This statement does not surprise me. I have always thought that the Fuhrer was profoundly disturbed! So what's new?
It's seems that 51% of Germans in a recent newspaper poll think that Germany would be better off if they ditched the Euro and went back to the Deutschmark. Only 29% thought that Germany should stay in.
And it gets worse. 71% think that they should boot Greece out of the single currency unless it does what it is told over austerity measures - something which has no doubt gone down well in Athens.
So what can she do about this? Well, not a lot it seems because next year she has to face national elections and clearly does not want to upset the voters. This somewhat limits her room for manoeuvre.
On top of all this, Jean-Claude Juncker who is chairman of the Eurozone group (see past postings on this blog) is piling the pressure on Berlin to stop behaving as if the Eurozone is a German subsidiary and to get stuck in to sorting the mess out.
Even Tony Blair is sticking his nose in by suggesting that Germany should accept some form of debt pooling - a move that is being heavily resisted. Blair says it is not surprising that the Germans don't want to sink more money into the Euro, but adds that by delaying attacking the problem it will only become more expensive in the long term.
He also thinks that all the faffing around on the continent is not exactly helping the UK economy to recover. He has a point.
So - roll on 2013 and, in the meantime, the Fuhrer is retiring to the Berlin bunker once more...