There is the possibility that Germany to renounce to Euro!

It is possible that Germany, the major European economic power, to withdraw from the euro zone.

German Chancellor Angela Merkel would be sent to Greek Prime Minister George Papandreou at the European Council summit in Brussels in late October, that it takes into account the possibility of Germany’s withdrawal from the eurozone, the British newspaper The Guardian noted.

According to witnesses who attended the discussion,  George Papandreou would be accused Angela Merkel that has made a  “undemocratic” proposals  at a summit in Octoberthat, when the German chancellor urged the euro area countries seeking financial help,like Greece and Ireland, to lose the right to vote in certain economic decisions. According to him,  “Iron Lady” of Europe  replied was a categorical: “If this is the kind of club that makes the euro area, then maybe Germany would have to leave.”

This is the first time in the 10 months since the outbreak of crisis in the euro area deficit when even the main defender of the single currency, Germany, relies on the possible waiver. Eventually, the German Chancellor’s request was approved, but Merkel has not given up the idea, which will support the next summit.

But Berlin has prevailed in other problem: Establishment of permanent mechanism to help states in danger of bankruptcy, as was the case of Greece, like that of Ireland and how threatening to be the case for Portugal.

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Posted by M.P.Bogdan on Dec 4 2010. Filed under Featured News, Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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