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Thread: Germans Reconsider Ties to Europe

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    Germans Reconsider Ties to Europe

    The Wall Street Journal

    BERGISCH GLADBACH, Germany -- As Angela Merkel races to convince Germans that their continued prosperity rests on preserving the euro, she is encountering strong resistance even from those in her own party who have been traditionally among the country's most pro-European politicians.

    When German lawmakers vote Thursday on whether to put more money into Europe's bailout fund—a step many investors see as essential to prevent a market panic—several conservative deputies, including Wolfgang Bosbach, a prominent champion of European integration, are expected to vote "no." Mr. Bosbach, a high-ranking conservative in Ms. Merkel's Christian Democratic Union, has recently become an outspoken critic of the bailout strategy.

    "The first medicine didn't work, and now we are simply doubling the dose," said the lanky Mr. Bosbach of the Greek debt crisis. "My fear is that when the big bang happens, it won't just be us who will have to pay but generations hereafter."

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    The lawmakers just voted, and they're expanding the bailout fund. Bailouts aren't going to fix the Greece, Portugal, Italy et al. That only alleviates their problems for a short while and puts them further in debt. Greece's first bailout made their situation worse. The social programs need to be ditched and opted for rebuilding their infrastructure Greece by itself can be dropped and defaulted no problem. Since parliament already expanded the bailout, Germans can expect more taxes and spending cuts.

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    We do not only guarantee 211 billion dollars. It is constantly not mentioned that we are also held reliable for costs of interest and - indirectly - for the ECB's excessive purchase of 'junk bonds' from threatened countries like Spain or Italy. The real amount is actually unknown and can only be estimated, however it will exceed 211 billions by far.

    The roads in my region have slowly been deteriorating and there is never enough budget for repairs. We can see our infrastructure rot to rubbish, while at the same time billions of euros are wasted on bankrupt foreign countries that frauded their way into the euro zone. And keep in mind, Baden-Württemberg is a well-off federal state. Erich is right, I'm sure our general tax burden will increase with a cut in public service at the same time.

    Our politicians are doing us a terrible service, acting against the will of the populace. The ZDF opinion poll is a good proof of this. What is currently happening is that ordinary Germans really do reconsider our relationship to the EU, while the political Germany is doing the exact opposite. I wonder if this will have any effect on the next general elections. Honestly I don't think so, our electorate seems to be like brainless sheep that easily forget.

    To me it was clear that the new bailout would pass parliament (it has meanwhile passed the upper house as well), however I would have expected more resistance. I am very disappointed and seeing the self-satisfied grins of Merkel and her minions left me more frustrated than ever before. All mainstream parties are enemies to the ordinary citizen and all they do is squeeze us out, we are nothing more than milk cows to them.

    This is not the end of bad news, the permanent protection mechanism ESM is still to come. I'm certain they will betray and sell us out again. Our future prospects are very bleak.

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    Unfortunately Germany is following the USA model, that is not working here either.

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