An Amibitious Couple's Blog Experiment

Greece Is Testing The Boundaries Of German Patience

Germany Doesn’t Want to Bailout Greece Again But They May Have To Protect The European Union

Greece is weeks away from defaulting on their loan payment. The Greeks are pushing other European countries into a corner. Germany is sick of Greece’s refusal to make the social changes necessary to keep the country solvent. Greek workers have repeatedly refused to take pay cuts or benefit cuts. The talks in Brussels are at a stand still, but Greece is expected to make another proposal to hold-off their creditors at that meeting.

If Greece can’t make a deal with its international creditors they may withdraw from the EU, and that could be a disaster for other European countries. The social unrest in the oldest democracy in the world is at an all-time high. Many Greeks don’t appreciate the importance of the European Union. They refuse to make any kind of social concessions.

The German government has rescued Greece once before, and the Germans weren’t happy about it. Susan McGalla could see why. It appears Germany might be forced to lend Greece the money it needs, but many say the price of that loan will be high in terms of German demands. The United States is taking a backseat in the talks. They want no part of this nightmare. US officials say this is about Europe, but the US could suffer if Greece withdraws from the European Union.

Leave a comment for: "Greece Is Testing The Boundaries Of German Patience"

Tag Cloud