Calamos Supports Greece
GreekReporter.comEuropeMost Germans Oppose Greek Aid

Most Germans Oppose Greek Aid

8C017673EA179DD3BE40216B91068E5BSome 61% of Germans oppose any more international loans – much of it coming from their country – for Greece, according to the results of the Political Barometer that was conducted for the ZDF TV channel.

In case Greece needs such an aid, only 33% of the participants seem to be supportive, while 6% answers that they “don’t know.” Despite that, German Chancellor Angela Merkel – who favors aid to Greece along with austerity measure – seems set to win re-election on Sept. 22.

At the same time, the likelihood of more aid as well as whether Greece will stiff the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) with losses as it did to private investors has gotten lots of attention in Germany.

If Greece gives the lenders a so-called “haircut,” then Germans and taxpayers in the other 15 Eurozone countries will pick up the bill for generations of wild overspending in Greece, a prospect that has German seething.

The newspaper Die Ziet, in an article headlined Greek Truths wrote that it is certain that Greece will need more financial aid, believing that German Finance Minister Wolfgang Schaeuble “had been thinking a lot before he said something obvious” in commenting that Greece, which is surviving on $325 billion in two bailouts, will need a third, although for a far less um.

The newspaper reminds the public that Greek debt remains high despite the aid. As Die Zeit said, “In this way, the budget is being burdened and the investors are being discouraged”.

The author stresses that Greece could be helped through the extension of the payoff time and the reduction of the interests, saying that such a “secret haircut” would not cause such a political turbulence.

The article disputes Merkel’s claim that a potential haircut of the Greek debt would cause a domino effect on the market, since this time it is the taxpayers that are being affected. However, the individual investors would remain unscathed. In conclusion, the reporter estimates that in any case a substantial change will not happen.

See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!



Related Posts