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Majority of Germans oppose Greek bailout

AFP · 27 Apr 2010, 11:36

Published: 27 Apr 2010 11:36 GMT+02:00

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Only 33 percent are in favour, the poll by Dimap commissioned by Germany's Die Welt daily and French television news channel France 24 showed. The survey

of 1,009 people was carried out in mid-April.

After months of fighting to finance its national debt, Greece formally applied on Friday for a bailout from its eurozone partners and the International Monetary Fund worth up to €45 billion ($60 billion).

But German Chancellor Angela Merkel, with a key state election to fight on May 9 and public opposition to a bailout strong, has insisted that Athens first demonstrate how it plans to get its public finances in order.

As Europe's biggest economy, Germany would be the biggest contributor to any aid, providing around €8.4 billion in a €30-billion package from eurozone countries.

Influential voices in the media also took a sharp line in opposing a bailout for Greece, accusing the state of profligate spending and cooking the books.

Bild, the mass-circulation daily, carried the front-page headline: "Why

should we pay for Greeks' luxury pensions?"

The Greek government "tricked, camouflaged and fooled for years in a way that would make the gods on Olympus blush ... With all respect to the world's oldest democracy, if you lie once, no one will believe you. Particularly when it's about money."

The paper sent its reporter to Athens in a stunt to hand out drachmas, Greece's currency before it joined the euro in 2001. "The old notes were virtually ripped out of his hands," Bild said.

Story continues below…

Others attacked Merkel's strategy of talking tough and then gradually relenting.

"Merkel drives the markets crazy," said the Financial Times Deutschland, adding that her emergency statement on Monday where she sought to calm sentiment had fallen on deaf ears.

"The big bluff failed - the players blinked and sweated, wobbled and negotiated, and now the gamblers want to see the cards," said the Tagesspiegel daily.

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Your comments about this article

15:12 April 27, 2010 by Prufrock2010
Only 57 percent opposed? This survey must be fundamentally flawed.
18:23 April 27, 2010 by Kronaboy
I think its absolutely outrageous that my hard earned taxes are being used to subsidise a corrupt regime like Greece. If Greece is so hard up for cash they should sell back their illegally obtained territories like Kos, Demotika, Salonika etc... back to their rightful owner.
21:12 April 27, 2010 by wmm208
It doesnt matter what German taxpayers think, just pay, pay pay. looks like Greece has spread to Portugal. German bunds will come soon. The Euro is finished. Markets win...Dont forget the Zahlen bitte.
22:57 April 27, 2010 by brd888
Look at the riots in Greece - they are not prepared to live within their means! Their people are sending a strong message to the Eurozone - "get lost"
23:00 April 27, 2010 by wmm208
You should be saving the EURO currency for future historical value. The problem has "officially" spread to Portugal via contaigion. Get ready for the bust. To all you US Dollar Bears, ha! Pay, pay, pay. zahlen bitte...
23:26 April 27, 2010 by wxman
Good idea.
10:04 April 28, 2010 by stoltz
Well I have lived in Grecce for some 20 yeas an the only thing i have seen is the effort how to (make black money) there na fjaksome ke na domme , do nix existe any more now greee have to get out of the (my mother say im the most clever man on the planet so i can be relaxed) thing . Now Greece work U butt of like the rest of us in the eu ,,, do nix depend on turism any more produce !!! Laysy well then ,,,???

Go back in time again
10:07 April 28, 2010 by chimpansi
Greece, Portugal & Spain are like bottomless pit. Just kick them out of EU. They have to solve their problems. EU is not a charity!! Send a good bill for being in EU & taking subsidy till date. Ofcourse they could pay when they make money. Will be a good lesson. Kicking them out is not going to affect German exports. In any case they dont have choice other than buying German products.
16:54 April 28, 2010 by wmm208
They cant be kicked out. You must pay. Zahlen bitte.
23:18 April 28, 2010 by Beachrider
The Greeks are linked strongly to Germany via the Euro. The Greeks have some leverage, but it won't be pretty. The German leverage revolves around Greece somehow violating their Eurozone agreement. Expect both ugly outcomes to play out in the press. It is likely that the Greeks will be pressured into some behavior changes before the Eurozone compatriots open up their checkbooks.

If the Greeks fail to live up to their agreements, then the only recourse would be to find some violation of their Eurozone agreement.
03:44 April 29, 2010 by wmm208
Germany will have to either pay through the front door or thru the back door because Germany has bank loans there. Schade...Look for this to spread to Potugal, Spain, Italy. Spain will crush and destroy. The bond markets will explode. This is going to get uglier. The future is looking badly..
22:30 April 29, 2010 by Prufrock2010

So call your friends at Goldman Sachs and buy short on the euro while shorts are still hot. Goldman helped to engineer this thing, after all.
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