The Greeks are mainly responsible for their current predicament. But the German government has made the country’s situation worse with its lectures and reluctance to provide assistance. Chancellor Angela Merkel is mainly to blame for the fact that German taxpayers now have to suffer.
“Anything that can go wrong will go wrong.” This piece of wisdom, known as Murphy’s Law, currently applies extraordinarily well to economic policy in the euro zone.
On the one side there are the Greeks, who clearly still do not have their financial statistics under control and who produce one false report after another about the country’s budget deficit. On the other side are the Germans, who delight in hindering a rapid and unambiguous European response to the Greek crisis — in the process driving the cost of a solution through the roof.
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