Germans know that if Italy fails, Germany fails too. Then…

Germans know that if Italy fails, Germany fails too. Then...

BERLIN – The image of Germans who think they pay for the pensions of the Greeks of the past. Euroscepticism acute, the same one that Merkel had stirred up a few months ago, seems muted. Most Germans see their own destiny within Europe, believes the euro and is convinced that Italy belongs to the single currency, according to results of different surveys. It is secretive, yes, if it is to take extraordinary measures to keep working that involve taxpayer money. He believes, in a word, the doctrine-Merkel, who only “more Europe” can defend the economic interests of Germany.

He accuses Germany in recent weeks of little Europe for the fact that Chancellor Angela Merkel has been virtually alone in rejecting the two solutions in parallel with force that economists, and not overseas, call out loudly: the issuance of bonds Community and the extension of the European Central Bank.

Merkel, as well as his finance minister, Wolfgang Schäuble, both supported by the president of the Bundesbank, Jens Weidmann, have done nothing but reaffirm their double “no” even before the situation goes to hell in Spain and Italy. In general, the center-right German aligns the positions of the government.

But Angela Merkel has recently regained the highest levels of popularity and has managed to convince the electorate to appreciate the country’s strong position within Europe, especially as a defense of his economic interest. According to recent surveys conducted by the ZDF television, 63% of the population has confidence in the management of the crisis of the Chancellor. It means that you trust her even opposition voters. In essence, the German middle class has fear for their savings and widely believed to official doctrine: the Eurobond and the acquisition of Treasury bonds by the ECB are only short term solutions. So if 78% is convinced that Italy belongs to the euro, the majority is contrary to the ECB to continue to buy Treasury bonds Italian.

Not surprisingly, when asked about the possibility of introducing community bonds, the Germans are in the vast majority against: specifically, 78% of the population rejects them, reports a study by the Forsa (a major). According to a calculation of Kai Carstensen, Ifo Institute, the introduction of Eurobonds would cost Germany an increase in interest rates to 2.3% at year-end would be 47 billion euros.

The real problem, according to Merkel, is “political” and then the solution of the crisis must be political. This is why the Chancellor proposes “more Europe” and a solution “step by step,” which includes changes ‘limited’ to the EU treaties. Along with her, even his party joined the CDU has found a new vocation around Europe in the last Congress in Leipzig, at the beginning of November, which was to be a routine appointment and instead became a key moment for the Merkel acknowledged in the country that the person who could lead Europe. “Wie nie Mächtig,” as strong as ever, the title has been dedicated to the Chancellor the next day, the Süddeutsche Zeitung, a newspaper usually hostile.

Merkel repeated to exhaustion in recent months that “if the euro fails fails to Europe and Germany.” No one can deny that this is obvious. A default Italian lug Germany and France. The recession and the inevitable depletion of Germany’s trading partners could also cause an earthquake here economically unpredictable. They all say the experts. I have written in clear words the “Five Wise Economy” that carry out studies for the government: Germany will grow only 1, 5% next year, in particular the decrease in demand in the euro countries.

Merkel has had to swallow several toads since the crisis began in Greece in 2010. But now, as the economists call a “silver bullet” or even a “bazooka” against the crisis, she speaks of “ten years” to stabilize the euro. She managed to impose his agenda of austerity in Europe. Now 78% of Germans believe that the euro will overcome the crisis.

The German press has not been withheld by the prosecution Chancellor of populism or electioneering at various times of crisis. But the same does not apply with respect to solutions that are proposed now. The Germans now feel Eurobonds and all the solutions that pass by the ECB as a blank check in Germany to Europe.

They have changed the tone. Merkel would not use today the same words he used last March when he was accused of laziness, the Mediterranean countries, where they worked little, grew more holidays and retire before you go (but then be contradicted by the data). Before the ruling class and then the majority of the population have taken a responsible attitude to the crisis, while remaining convinced of the fact that Greece has been the source of problems.

“I have said on many occasions that we have to give respect to Greece,” said Finance Minister Schäuble today at a meeting of the Foreign Press Association, “but Greece does not believe in any way, that their problems are been caused by others. ” Schäuble does not believe, like others of his party, the CDU, who speak German Europe, “Europe will continue to speak multiple languages, because it lies in the multiplicity of its richness.”

The problem of Europe, Schäuble repeated to reporters as if he were talking to a child of five years, which is composed of 27 sovereign states. Of them, 17 have agreed to cede some sovereignty with regard to the coin. “Since the problem of the single currency has been that monetary policies are common but not financial ones.” This node is causing numerous problems hours. “It is necessary that we change things, and complete monetary union with a union of stability.” A new stability pact therefore, tighter rules to restore confidence. And later, but only after overcoming the crisis, perhaps we can talk of Eurobonds.

Translation from italian by Google Translate

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