Peter1469
07-08-2015, 06:41 PM
German conservatives say no more for Athens (http://www.independent.ie/business/world/merkel-faces-party-revolt-over-aid-for-athens-31360640.html)
At some point you realize that Greece will not be able to pay you back even if they really want too.
The notion that Sunday's referendum would persuade Germany to spend more taxpayers' money on bailing out Greece was angrily dismissed by numerous renegade Christian Democrat (CDU) MPs in media interviews. "We must now end this experiment with the reform-reluctant Greeks," said Christian von Stetten, head of the CDU's small business association group in parliament. Earlier, he described Greek government representatives as "rip-off merchants" and "conmen".
Andreas Scheuer, general secretary of the Bavarian wing of Ms Merkel's conservatives, was more emphatic. "Greece has said No and as far as we are concerned that means no to negotiations and to a further aid package," he told Germany's 'Bild' newspaper.
Other leading conservatives said they agreed with the finance minister Wolfgang Schäuble, who has said that the "honest and consequent approach" would be for Greece to leave the eurozone.
Germany's dilemma is that its economy is export driven and the Eurozone is a key component to that. It is likely cheaper for Germany to eat the loss with Greece and pay their debts off so long as they could keep the EZ together. But then, the EZ may not stay together regardless of what happened with Greece.
At some point you realize that Greece will not be able to pay you back even if they really want too.
The notion that Sunday's referendum would persuade Germany to spend more taxpayers' money on bailing out Greece was angrily dismissed by numerous renegade Christian Democrat (CDU) MPs in media interviews. "We must now end this experiment with the reform-reluctant Greeks," said Christian von Stetten, head of the CDU's small business association group in parliament. Earlier, he described Greek government representatives as "rip-off merchants" and "conmen".
Andreas Scheuer, general secretary of the Bavarian wing of Ms Merkel's conservatives, was more emphatic. "Greece has said No and as far as we are concerned that means no to negotiations and to a further aid package," he told Germany's 'Bild' newspaper.
Other leading conservatives said they agreed with the finance minister Wolfgang Schäuble, who has said that the "honest and consequent approach" would be for Greece to leave the eurozone.
Germany's dilemma is that its economy is export driven and the Eurozone is a key component to that. It is likely cheaper for Germany to eat the loss with Greece and pay their debts off so long as they could keep the EZ together. But then, the EZ may not stay together regardless of what happened with Greece.