Eurozone countries agree deal to bail out Greece Exclusive: Germany plays pivotal role in rescue package, despite resistance at home
German Finance Minister Wolfgang Schaeuble said on Friday that eurozone members unable to overcome budget problems should leave the euro, in an article for London's Financial Times newspaper. "Should a eurozone member ultimately find itself unable to consolidate its budgets or restore its competitiveness the country should, as a last resort, exit the monetary union," the finance minister wrote. Schaeuble also defended the concept of a "European Monetary Fund," modelled on the International Monetary Fund, which he had presented to the German media last weekend, unleashing a political debate in Europe. While France, the Netherlands and Luxembourg have backed the proposal, top Bundesbank and European Central Bank (ECB) officials have expressed criticism.
Schaeuble also defended the concept of a "European Monetary Fund," modelled on the International Monetary Fund, which he had presented to the German media last weekend, unleashing a political debate in Europe.
While France, the Netherlands and Luxembourg have backed the proposal, top Bundesbank and European Central Bank (ECB) officials have expressed criticism.
I don't think Central/Eastern European EU member states are too happy with the behaviour of the German and Austrian banks in their countries since 2004 but you can tell me the view from the ground there. In any case, These banks are not doing too well right now (see for instance this).
A little farther afield, I know Croatians are already leery of the perceived German takeover of their economy and they're not even in the EU yet. Seeing the way German talking heads are treating Greece, I can imagine a serious eurosceptic backlash just when Croatia's EU accession looks to be 21 months away. The brainless should not be in banking -- Willem Buiter
On the other hand, Raiffeisen has the worst customer service fame in Hungary, and Erste Bank got some fines and court orders too. *Lunatic*, n. One whose delusions are out of fashion.
In Greece, it is well understood that corporate proxies from other nations also are involved in unfriendly political operations.
