Germany welcomes Greek conservatives' win

Geir Moulson - The Associated Press

AP Photo/Kostas Tsironis
Supporters of the New Democracy conservative party celebrate at an election kiosk at Syntagma square in Athens, Sunday, June 17, 2012. The pro-bailout New Democracy party came in first Sunday in Greece's national election, and its leader has proposed forming a pro-euro coalition government.

BERLIN (AP) — Germany's finance minister greeted the conservative New Democracy party's projected win in Greek elections Sunday as a decision to "forge ahead" with implementing far-reaching reforms. Germany's foreign minister said it's important for Greece to stick to its agreements with creditors, but held out the prospect that Athens might be given more time to comply with them.

New Democracy party beat the radical-left Syriza party into second place on Sunday and immediately proposed forming a pro-euro coalition government — a development that eased, at least briefly, fears that the vote would unleash economic chaos.

Germany — Europe's biggest economy — has been a major contributor to Greece's 2 multibillion-euro rescue packages and a key advocate of demanding tough, and highly unpopular, austerity and reform measures in exchange.

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June 17, 2012

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1. Philip Vorgias wrote on June 17, 2012 7:06 PM	The Greek voters have done their bit, now it's up to the northern europeans to resolve to promote growth in those nations most in need. There are ways to do this without creating unstable economic bubbles.

2. ARMODIOS PAPAGIANAKIS wrote on June 18, 2012 9:28 AM	Sure there is…continue punishing the productive northern European taxpayer by transferring/lending and/or risking his hard earned wealth, mostly against his wishes, to the unproductive Greek, as a reward for years of irresponsible profligate spending and this way all Europeans can be equally poor. Karl Marx would be proud.

3. Philip Vorgias wrote on June 18, 2012 11:12 AM	The northern europeans bought into the EU long ago, Armodios. It has fostered a period of peace and prosperity for europe which is unprecedented in modern times. The Germans in particular have acquired great wealth as a result of EU ties. So they shouldn't harp when now-during tough times-they have to sacrifice a little bit. Lets not forget that Greek taxpayers bought their tanks, aircraft and submarines-at great sacrifice to the Greek treasury, btw. Everything is not black and white.

4. ARMODIOS PAPAGIANAKIS wrote on June 18, 2012 11:40 AM	You are correct; everything is now green and red: “From each according to his abilities, to each according to his needs.” – Karl Marx 1875, Philip Vorgias 2012 PS – Let me how Mrs. Vorgias reacts when you suggest to her “the need to sacrifice a little bit” to bail-out your profligate “friend” (who you’ve mentioned in previous posts), not once (2010), but twice (2012). LOL!

5. Niko Seretis wrote on June 18, 2012 1:00 PM	The Germans weren't innocent when all this was going on. Did anyone forget the Siemens scandal or the Submarine scandal that our beloved Akis is doing time for? Germans should invest heavy in Greece to jump start their economy just like Americans did in Germany after WWII. The very least they can do for the destruction and theft they wreaked on Greece during the war.

6. ARMODIOS PAPAGIANAKIS wrote on June 18, 2012 4:39 PM	Niko - German corporations are obligated to act in the best interests of their shareholders, not in the best interest of Greece. Hard working German taxpayers are not obligated, and should not be forced, to pay and/or lend to Greece for successive Greek governments spending beyond the nation’s ability to pay. You (Niko) are not obligated, and should not be forced, to pay off your next door neighbor’s debts either – even if your grandfather burned down his grandfather’s house over 60 years ago.

7. Philip Vorgias wrote on June 18, 2012 5:18 PM	I've bailed my friends and relatives out, Armodios. Numerous times. I could have paid of my mortgate (I still owe $ 150k on it) for what I've given to friends and family over the last decade because they were in real financial trouble. I'm not asking for any thanks, it's what friends and family do when one of them is in trouble. The Germans have benefitted greatly from the EU, more than most other nations. Now that they have to help out some of the less competitive nations they can chalk it up to being a member of the club. If German citizens don't like that, they can always dissolve the EU and go back to the way things were. They were awful good at starting wars to try and get what they wanted and couldn't earn through their efforts in the past. You know?????

8. Philip Vorgias wrote on June 18, 2012 5:26 PM	I think our dear friend Armodios is suffering from some discomfort-maybe his hemmrhoids are acting up? He's been in an unpleasant mood ever since the election outcome. Perhaps he's a SYRIZA supporter in disguise who was banking on getting Greece thrown out of the 'evil' Eurozone and back to the Drachma? Tsk, tsk.

9. Niko Seretis wrote on June 18, 2012 9:27 PM	Its in the best interests of the Germans to have an economically strong southern EU which includes Greece. Who will buy their cars, cell phones and tanks? As much as I have no intentions of paying off my neighbors house because my grandfather burned it down, Germany is part of Europe just like NJ is part of the US. This is what they wanted.

10. ARMODIOS PAPAGIANAKIS wrote on June 19, 2012 10:40 AM	WILLINGLY bailing out a friend in need, who you’ve determined is worthy, is called charity; honorable and commendable. However, bailing out your profligate buddy, not once, but twice, who you’ve publicly disparaged as a fool, who clearly lived beyond his means, is called stupidity. Despite what the German /Euro politicians claim, the respective German (Finn, Dane, Swede etc.), Euro TAXPAYERS resent the bailouts since they, for the most, played by the rules and lived within their means – clearly unlike the Greeks. Niko- Your metaphor is silly. German people are clearly not Greeks; they do not aspire to be Greek. In fact many Germans want to leave the Euro. Philip – I like the hemorrhoid metaphor. LOL!

11. Philip Vorgias wrote on June 19, 2012 12:17 PM	Like I said Armodios, if the Germans can't deal with being a member of the EU they can always opt out and go back to the Deutschmark. That they don't is because they have benefitted greatly from the common currency. Now they have to help an ailing member of the union, that's the way it goes. If you know of any economic union where there is all benefit and no sacrifice than please tell me it's name-my 401k hasn't been doing so good the last 4 years!!!

12. ARMODIOS PAPAGIANAKIS wrote on June 19, 2012 2:46 PM	No Philip, if you know of any economic union that has brought long term prosperity to its citizen’s by redistributing wealth from the productive to the unproductive, please, let me know.

13. Basil Zafiriou wrote on June 19, 2012 2:52 PM	Armodios, just a few facts to help you arrive at an informed view on this issue: a) Germany has also received significant outside support to help it restructure, including the forgiveness of debt after WWII and aid under the Marshall Plan. More recently, according to Bloomberg estimates, through the operations of the eurozone monetary system German banks have received more bailout assistance from EU taxpayers over the past three years than has Greece. b)"Rules-abiding" Germany also broke the Maastricht treaty fiscal criteria as early as 2003, and remains in violation to date; c) the German government, whose duty it is to serve the interests of its citizens, is supporting Greece’s bailout loans precisely because that is in the best interests of German citizens and taxpayers. As to why that is, I refer you to the comments on the following article: http://www.thenationalherald.c om/article/55294.
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Tuesday, May 21, 2013 Last Update: 2:40 AM ET