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FX.co ★ Greece sponges off Germany

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Forex Humor:::2013-09-03T09:48:00

Greece sponges off Germany

Greece should not be a part of the EU. Germany's chancellor Angela Merkel said ahead the election that membership of Greece in the euro area had been a mistake. During the latest speech connected to the Parliament election, which is due on September, 22, Merkel talked negatively about the decision of the former chancellor Gerhard Schröder. He allowed Greece participation in the euro area. “Chancellor Schroeder let Greece to join the eurozone and eased regulations of the Stability and Growth Pact. Both decisions were completely wrong. This became one of the initial points of the present troubles,” Merkel concluded in her speech at the pre-election meeting in Rendsburg. The Germany's political opposition during the pre-election campaign speculate with public opinion actively, highlighting the ruling party fault in “maintaining Greece at the expense of the EU”. Representatives of the Social-Democratic party criticize the current chancellor and her decision to provide Athens with financial help, which has amounted to 240 billion euros so far. “Germany alone has to provide stability in the EU and the euro area”, social-democrat and major Merkel's counterpart Peer Steinbrück said. “In my opinion, no result from the aid to Greece indicates that the struggle strategy against the crisis is more unsuccessful than effective,” he added. At the same time, while the German politicians cannot reach an agreement regarding financial support to the EU colleague, the Greeks have asked for additional money in the sum of 1 billion euros.

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