Another Call from Germany for More Greek Austerity

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Another Call from Germany for More Greek Austerity

ATHENS. As Greece struggles under the weight of two years of pay cuts, tax hikes, and slashed pensions demanded by international lenders – and Greeks head to the polls on June 17 for an election that could decide whether the country keeps the euro – Germany’s Finance Minister, Wolfgang Schaeuble, has issued another warning the country must adhere to austerity or else. Schaeuble, an incessant critic of Greece’s

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May 20, 2012

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5 readers comments


1. Nicholas Kostopoulos wrote on May 20, 2012 8:48 PM	If Greece stays in the Euro and the ECC they will always be treated by the German as second class. It seems to me that the Germans act as if they won WWWII, not the GREEKS and the allies. Greece must straighten out this mess and get out of the Euro and away from the Germans who control the ECC. The end of the ECC now is seen in the near distant five years by what I see. The other countries of the ECC will eventually see the way the Germans treat everyone who doesn't follow there lead, and will leave it.

2. Philip Vorgias wrote on May 20, 2012 10:41 PM	Leaving the EURO would be economic disaster for Greece. Your confusing your dislike of Germany with sound economic policy. Staying in the EUROZONE has to be considered strictly on the basis of what it does for Greece-and it has been largely beneficial. If Greece stays the course and continues with the reforms it will be a far better nation in 5-10 years. If they throw in the towel and go back to the Drachma, Greece will be the Albania-light in 5 years. Seems like a slam dunk cinch decision to me.

3. Niko Seretis wrote on May 21, 2012 11:23 AM	I think we're in a catch 22 gentlemen. Doomed either way. Staying the course is easier said than done but leaving brings us to an unknown that may be far more dangerous.

4. Niko Seretis wrote on May 21, 2012 11:25 AM	I think we're in a catch 22 gentlemen. Doomed either way. Staying the course is easier said than done but leaving brings us to an unknown place that may be far more dangerous.

5. Philip Vorgias wrote on May 21, 2012 3:41 PM	I don't think Greece is 'doomed' if they stay with the austerity plan, Niko. Sure, it'll be tough for a few years. But they'll come out of it a better, more competitive and wealthier nation. The alternative is economic disasters. Going back to the Drachma would be so economically shattering I don'd even what to think about it. If they do that Greeks will look back on THESE days as a fond memory, not a doubt in my mind about that.
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