Merkel and Germany Open to Possible Greek Euro Zone Exit – SPIEGEL ONLINE

But the EU’s insistence on Greece’s ongoing adherence to broad reforms calls to mind Chancellor Merkel’s comments regarding “market-conform democracy.” She coined the term in 2011 in comments urging German parliament to quickly approve bailout loans as a way of impressing investors and preventing them from speculating on the break-up of the euro zone. The comments, though, were heavily criticized and interpreted as being democracy’s surrender to the pressures of international capital markets. The Greek campaign has breathed new life into that debate. To what degree should the EU stand by a Greek electorate that would like to remain part of the common currency — but which is not prepared to do what it takes to be able to borrow money from international capital markets?

via Merkel and Germany Open to Possible Greek Euro Zone Exit – SPIEGEL ONLINE.

Both comments and trackbacks are currently closed.
%d bloggers like this: