In Angela’s shoesPosted: March 30, 2010
Last week was (almost) all about how Chancellor Merkel was, it seemed, ready to sacrifice the euro to protect the German economy. Finally, under the pressure from Berlin, the IMF will be involved for a good share in the rescue effort to Greece.
As much as I believe that full solidarity should exist between the member of the Union and even more for the countries using the Euro, I certainly understand the position Angela Merkel was in…
Germany is, it’s not a secret, economically the most successful country of the euro zone, and it is so thanks to some great sacrifices… Obviously, the German opinion will not hugely support a plan where their country has to pay for those with a not very sensible economic behavior. It’s a bit like if in a class, the good student had to clean up the mess of the bad ones.
Not that Angela doesn’t understand that no supporting Greece will lead to catastrophe. But this could create an uncomfortable precedent.
Obviously, deep reforms have to be implemented to prevent such a situation to happen again. And this reform should be directed in the respect of national traditions, but following the principles that made successful countries… well, successful. In other words, Germany should be the head master of the class.