November 26, 2012

Broke Europe Must Cut Greece Loose

Stefano Casertano, The European

AP Photo

Greek opinions about Germans are changing. When “austerity measures” were first imposed, Greek newspapers and posters infamously depicted Chancellor Merkel as a Nazi leader. But the reaction has lately become more sophisticated: now we hear that Germans want to pursue a strict interpretation of Protestant ethics (which knows no redemption on earth) and punish the Greek people. But when you ask Germans, they don’t feel like they’re punishing Greece. Instead, the German version of the story is that the beautiful Mediterranean country has been afforded plenty of chances to reform itself. Moreover, Germans argue, the original sin lies with the Greeks as well: Athens keenly insisted on entering the Euro and used a bit of accounting magic to meet requirements. If the...

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TAGGED: Greece, Eurozone

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