Germany and the charge of “bully” after a tough Greek bailout deal.
After the horrors of World War II and the Third Reich, the architects of the European Union were quite clear that they wanted a path away from dreams of dominance and war. And pretty clear back then that they had Germany most vividly in mind. Now Germany is the power again in Europe, and wielding that power in a way some have called “brutal” in dealing with the Greek crisis. Germans say they just want a sound and fair Europe. Critics are calling Berlin punishing, contemptuous. Talking of colonies. This hour On Point: the charge of German bullying in the Greek bailout deal.
-- Tom Ashbrook
Hans Kundnani, senior transatlantic fellow at the German Marshall Fund of the United States. Former editor and research director at the European Council on Foreign Relations. Author of "The Paradox of German Power." (@hanskundnani)
Dominique Plihon, professor emeritus of the department of economics at Paris-Nord University. Author of "Central Banks and the Financial Crisis."
From Tom’s Reading List
New York Times: Germany’s Destructive Anger — "A deal has finally been reached that could keep Greece in the eurozone. Few are happy with the outcome. We’ve heard a lot about how the Greeks feel humiliated. But we’ve heard less about German anger, and we know they are angry. Finance Minister Wolfgang Schäuble was reported to have started yelling during Saturday night’s negotiations. France and Italy have both made huge loans to Greece, but neither country has expressed hostility to Greece. Why is Germany so angry?"
Guardian: Greek bailout: Angela Merkel accused of blackmailing Athens -- "Angela Merkel and her finance minister, Wolfgang Schäuble, have come under sharp attack at home for their handling of the Greek crisis talks, with some opposition politicians accusing them of blackmailing Athens. Ahead of a special session of the Bundestag on Friday at which Merkel, the German chancellor, will ask parliamentarians to support negotiations for a third bailout for Greece, some MPs accused her and Schäuble of deliberately trying to split Europe."
Reuters: IMF threat to pull out of Greek bailout challenges Germany — "The International Monetary Fund's threat to pull out of bailouts for Greece unless European partners grant Athens massive debt relief poses a stark challenge to Germany, the biggest creditor, which insists on IMF involvement in any future rescue. The global lender has made itself unpopular with both sides in the Greek debt saga by playing its role as a teller of inconvenient truths without excessive diplomacy."
This program aired on July 20, 2015.