Britain's Former Treasury Chief Blames The Germans For Sovereign Debt Chaos

Greece Austerity Riots

Photo: Flickr User PIAZZA del POPOLO (www.flickr.com

The UK’s former Chancellor of the Exchequer has called out his German counterparts for dillydallying at the height of the eurozone crisis and endangering the future of the currency, according to the Telegraph.Speaking at a conference in Germany, Darling said that Germany has yet to really understand its leadership role in the eurozone and how important its strength in decision making is to the community.

What’s clear is that this has now become a consensus opinion. While Germany waited and waited as Greece and the euro came under further threat, the eurozone began to question the fibre of their leadership.

Now, with the Greek bailout and eurozone stability package in place, everything seems rather certain. This week’s now regular chaos around Ireland and Anglo Irish Bank, and resolution by ECB entrance to stabilise the Irish sovereign debt market, is an example of this.

But, if austerity continues to slow the economies of Greece and Ireland, and they waver on their path to financial prudence, will Germany still stand by them?

Here’s why Europe is doomed to crisis after crisis >

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