Nina Trentmann, UK Business Correspondent at Die Welt, takes a look at the EU and the Eurozone in the wake of the most recent Greek bailout. With key German political figures in disagreement about in which direction to move, what might this mean for David Cameron’s chances of successfully negotiating EU reform?
During the last couple of months, I have been asked quite frequently: what does Germany think? About Greece, about another bailout, about the Euro? I found that funny at times, given that Germany is a country of more then 80 million people who often have contrasting views, especially on topics which have been debated as hotly as the Greek debt crisis.
Although there is now some sort of agreement between Greece and its international creditors – the country remains in the Eurozone, there will be more emergency funds from the European partners, the ECB is continuing to support Greek banks – it has become quite obvious that this is only a solution for a short period of time. This has been amplified in the rift between Chancellor Angela Merkel and her finance minister Wolfgang Schäuble who, despite coming from the same party, the Christian Democratic Union, are now openly disagreeing on how to proceed in general with the Euro and with Greece in particular.