Opposition to the Euro Grows in Germany

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Surveys show that many Germans are worried about the future of the euro, but the country's political parties are not taking their fears seriously. The number of grassroots initiatives against the common currency is increasing, and political observers say a Tea Party-style anti-euro movement could do well.

As a playwright, Rolf Hochhuth knows how to use timing to achieve the greatest possible impact. In the 1960s, he criticized the pope for remaining silent about the Holocaust. When everyone in the world was talking about globalization, he took to the theater stage and unmasked consulting companies like McKinsey as exploitation machines.

Now Hochhuth is campaigning against the euro -- and his stage is Germany's Constitutional Court. "Why should we help rescue the Greeks from their sham bankruptcy?" he asks. "Ever since Odysseus, the world has known that the Greeks are the biggest rascals of all time. How is it even possible -- unless it was premeditated -- for this highly popular tourist destination to go bankrupt?"

In the spring, he joined a group led by Berlin-based professor Markus Kerber that has filed a constitutional complaint against the billions in aid to Greece and the establishment of the European stabilization fund, which was set up in May 2010. Hochhuth wants the deutsche mark back. "I don't know if this is possible. I only know that Germany lived very well with the mark."

It's an opinion that suddenly places this nearly 80-year-old man in a rather unusual position, at least for him: on the side of the majority of Germans.

http://www.spiegel.de/international/germany/0,1518,736680,00.html

[Mr. Big Dog 10,747]

Germany will not abandon the EUR. That would be a stupid move. Germany is not only the main architect but also the biggest beneficiary of the common currency. Export dependent Germany which derives huge chunks of it's trade surplus from it's exports to EUR nations is also the nation that would suffer by far the most if the EUR project would fail - which it almost certainly would if Germany would withdraw from it - or if the troubled nations that Germans are sour over bailing out would actually default on their debt which is largely held by - yep - German banks. It's cheaper to keep them afloat than it is to allow them to default.

Edited December 28, 2010 by Mr. Big Dog

[luckytxn 2,264]

Germany will not abandon the EUR. That would be a stupid move. Germany is not only the main architect but also the biggest beneficiary of the common currency. Export dependent Germany which derives huge chunks of it's trade surplus from it's exports to EUR nations is also the nation that would suffer by far the most if the EUR project would fail - which it almost certainly would if Germany would withdraw from it - or if the troubled nations that Germans are sour over bailing out would actually default on their debt which is largely held by - yep - German banks. It's cheaper to keep them afloat than it is to allow them to default.

Have to agree. Germany pushing and wanting the Euro made it happen. They knew they would be the dominant player in that currency and they are. All the sound reason are still there to become a union. The saying that together they stand and divided they fall is very sound there. It is very easy to dominate smaller countries economically than a huge band of countries with a common currency and laws.

Of course when some of the countries decided to give ever increasing gravy and know that the richer countries will bail them out is expensive. Socialism is always expensive and that is why they would love it in Europe if the U.S. would become more Socialized and spend more of their wealth and become even more non competitive against them. We can still eat their lunch right now but soon they will have us beat on all fronts as our goods become more expensive.

[Brother Hesekiel 2,236]

I was against the whole EU and Euro right from the beginning. Arguably, to large part due to its auto industry, Germany was and still is the wealthiest and most powerful of the European countries. The Deutschmark had value and was the currency to have (ignoring the value of the Dollar back then). When the Euro was introduced, the stronger nations lost and the weaker nations benefitted from the transition, as it's always the case.

Yet, there's no way back now. It's like a marriage where one partner is fiscally responsible and the other one isn't. They both have to work it out and the end result will be a middle of the road one.

If you have a classroom full of super talented and motivated children, great things can happen. If you have a classroom full of students needing extra assistance, the result will be accordingly. Put both groups together in one classroom and the smart kids will lose out.