Παρασκευή, 11 Μαΐου 2012

Germany Signals It Will Permit Small Steps to Promote Growth in Europe




Despite marked differences in tone, Ms. Merkel and Mr. Hollande may not be so far apart in substance, said Mujtaba Rahman, an analyst at Eurasia Group, a consultancy in New York. Germany may ultimately accept minor adjustments to Greece’s aid program if a viable government emerges, Mr. Rahman said.
“This is Germany’s way of signaling both to Hollande and the Greek political elite it is willing to be constructive to keep the system together,” he said.
German officials have been adamant in saying the bailout terms would not be renegotiated with Greece. The sharp reduction in public spending in the teeth of a recession has sent Greek unemployment to over 20 percent and, in Sunday’s elections, brought radical parties on the right and left into Parliament.
Speaking in Berlin on Thursday, Finance Minister Wolfgang Schäuble repeated Germany’s mantra that Greece had to stand by its commitments, but this time he added that Berlin could tolerate a slightly higher inflation rate.
New York times

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