German magazine Spiegel notes that German Finance Minister Wolfgang Schaeuble was not fair in his handling of Greece’s economic crisis on account of the Greek government’s left-wing government. Despite being warned by economists that the austerity measures strangled Greek recovery, Schaeuble pushed for tough and crippling reforms.
On the other hand, the German minister took a different stand when it came to Spain, with conservative Prime Minister Mario Rajoy at the helm. Spiegel points to German newspaper Handelsblatt’s reports that Schaeuble personally intervened to ensure that countries such as Spain and Portugal were mildly treated.
The German magazine states that the understanding that was shown to Germany and Portugal should be extended to other countries even though their recovery is still fragile.
In the case of Greece, Schaeuble rejected all claims for mildness proving yet again that the European Union has a two-speed approach when it comes to the treatment of its members. In the case of France, there was a blind eye turned to the deficits. Asked why, European Commission President Jean-Claude Juncker gave an incredible answer — “Because it is France!”
When the EU gives the impression that it deals with countries according to their strength and political beliefs, the European crisis will continue to grow, says Spiegel.