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Bruegel
24 April 2010

Bruegel: Germany should share the blame for the Greek crisis


Bruegel Director Jean Pisani-Ferry and Senior Fellow Andre Sapir explain why Germany may have to shoulder part of the blame for the crisis in Greece by not addressing crisis management and only focusing on crisis prevention.

As an EU-IMF package for conditional assistance to Greece takes shape, reactions from the market have not been favourable. With the threat of default still looming, European taxpayers are unsure how the cost of this assistance will affect them. German citizens in particular are disgruntled that they will have to pay for another country’s mistake- a scenario they were assured by their politicians would never occur thanks to the strict rules of the Maastricht treaty and the Stability and Growth Pact. Bruegel Director Jean Pisani-Ferry and Senior Fellow Andre Sapir explain why Germany may have to shoulder part of the blame for the crisis in Greece by not addressing crisis management and only focusing on crisis prevention.
 
 


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