The fear of Christian Lindner
Athens. What Wolfgang Sch à®ªà®¿à®³à¯ uble had to endure because of Greece’s austerity goals: Cartoonists portrayed him as Dracula, newspapers portrayed him as an SS soldier in photomontages, and protesters erected a symbolic gallows for him on Syntax Square in Athens.
Lindner wanted to drive the Greeks out of the euro zone
His designated heir, Christian Lindner, does not encounter hatred, but mistrust. What is unforgettable in Greece is that during the debt crisis Lindner accused Schuble of being too lenient with the Greeks. At the time, the FDP politician called for the country’s expulsion from the euro zone. This is Schouplin’s plan. But it failed due to opposition from President Angela Merkel.
Of course, no one talks about Grexit anymore. But Lindner will make an important point when the EU discusses reform of the EU’s stability agreement in the coming months. Greece wants more flexibility in deficit rules and a relaxation of the debt ceiling. It currently represents 60% of gross domestic product (GDP). Greece’s debt ratio currently stands at 207% of GDP. According to EU estimates, Greece will not reach 60% by 2060.
The public expects the highest credit from the “Southern Alliance”
However, the Greeks were not the only ones calling for an increase in the debt ceiling. Of the 27 EU countries, only 14 are currently in compliance with the requirements of the Stability Agreement. The economists of the Euro Stability Fund (ESM) propose to raise the limit to 100% of GDP. Lindner, on the other hand, is a proponent of the strict course of stability when it comes to deficit and debt targets. He does not think of eurobonds, in other words of âcredit unionsâ. The Athenian newspaper “Kathimerini” fears that the designated German finance minister is less pro-European and more severe on budgetary regulation than Schuble.
But in the post-Merkel period, countries like France and Italy will gain influence as Germany loses weight in the EU. Greece also has a chance to bet on this. Observers expect a “southern alliance” to emerge from France, Italy, Spain, Portugal, Cyprus and Greece in the debate over reforming the accord. stability. What these countries have in common is not only their geographic location in southern Europe. These are the six most indebted EU countries.
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