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On the other hand, if Schaüble, having cried victory yesterday, proceeds to STFU today, then everybody wins. It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
Apart from an insult from Merkel this time ("the Greek government arrived in reality step-by-step"), so far I don't see any government spin reported in the German media, all they say is that Schäuble already requested the vote on the Bundestag approval. The conservatives in the Bavarian CSU agitate against approval, and so does CDU foreign policy "expert" (and all-around asshole) Wolfgang Bosbach who reportedly wants to leave government over its (for him not hawkish enough) Greece policy. *Lunatic*, n. One whose delusions are out of fashion.
An influential German business group is urging MPs to take a tough line on Greece ahead of a Friday vote in the Bundestag to approve an extension to the country's bailout. The lower house of Germany's parliament is broadly expected to pass the four-month extension that eurozone finance ministers agreed with Athens on Tuesday.Nonetheless, Chancellor Angela Merkel could face a sizeable rebellion within her Christian Democratic Union and its Bavarian sister party, the Christian Social Union. If nothing else, the warnings from the CDU's business caucus and other conservatives reflect widespread unease about providing additional support to a Greek government amid doubts about its reform pledges.In a letter to lawmakers, Kurt Lauk, president of the CDU's Economic Council, wrote: "A simple extension of the aid programme without effective terms would mean that we are knowingly throwing further good money after bad."The council, an association representing business interests, is a longstanding critic of eurozone bailouts. It argues that rescues create moral hazard for governments that mismanage their economies.
The lower house of Germany's parliament is broadly expected to pass the four-month extension that eurozone finance ministers agreed with Athens on Tuesday.
Nonetheless, Chancellor Angela Merkel could face a sizeable rebellion within her Christian Democratic Union and its Bavarian sister party, the Christian Social Union. If nothing else, the warnings from the CDU's business caucus and other conservatives reflect widespread unease about providing additional support to a Greek government amid doubts about its reform pledges.
In a letter to lawmakers, Kurt Lauk, president of the CDU's Economic Council, wrote: "A simple extension of the aid programme without effective terms would mean that we are knowingly throwing further good money after bad."
The council, an association representing business interests, is a longstanding critic of eurozone bailouts. It argues that rescues create moral hazard for governments that mismanage their economies.
Critical account of the legacy of the Troika in Die Zeit [German] http://t.co/KhgBKlJVMd via @MichPant— Stefan Loesch (@oditorium) febrero 25, 2015
Critical account of the legacy of the Troika in Die Zeit [German] http://t.co/KhgBKlJVMd via @MichPant
The article also says, citing a dissident IMF official from Brazil, that the IMF couldn't have participated in the bailout by its own rules until DSK changed them (though once the rule was changed, there was majority support for the bailout). *Lunatic*, n. One whose delusions are out of fashion.
Puissante et incontrôlée : la troïka (French version) Macht ohne Kontrolle, Die Troika (German version)
... ah. I see the film's researchers are credited in the article : Eurokrise: Die wirtschaftlichen Eliten bleiben verschont | ZEIT ONLINE
Mitarbeit: N. Leontopoulos, E. Simantke Dieser Bericht beruht auf Recherchen für den Film "Macht ohne Kontrolle - die Troika" von Harald Schumann und Arpad Bondy, der am Dienstag Abend bei Arte gesendet wurde und noch in der Mediathek abrufbar ist.
So now we learn that public TV had to be closed when IMF bureaucrat Poul Thomsen blackmailed the minister for the reform of public service, Antonis Manitakis, to immediately fire 4,000 additional public servants, just to scare those remaining, claims Manitakis. So this is what the current government must avoid, given Lagarde's indication of continuing to play hardball.
As things stand right now, the CDU's business council is at the nadir of it's influence. Lauk is hardly a power broker.
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