August 12, 2011

Can German Commitment to the Eurozone Last?

Veronique de Rugy

Senior Research Fellow

I have a new post on The New York Times’ Room for Debate regarding Germany’s role in the European debt crisis. As the true cost of the bailouts begin to hit the German people, they will become less willing to pay for the debt of other countries in the European Union. The whole post can be found at The New York Times. Here are a few excerpts:

“Germans are especially losing patience over the continued demonstrations in Greece…which they see as signs that the Greeks are uninterested in changing the behaviors that got them into trouble in the first place.” 

“As new bailouts are requested,…Germans [may] start seriously questioning their attachment to European solidarity. Why should they work two or three extra years to pay for their neighbors' early retirement policies? The short answer is they shouldn't. And they probably won't.”