Germany has said it will urge its fellow European Union states to agree International Monetary Fund aid for Greece, and bilateral European aid as a last resort if Greece teetered towards insolvency.
Question Germans whether they want their country to foot the bill… and the answer is ‘no’. But you will also hear: “I think Europe is so big, we will get Greece back on track [together].”
Chancellor Angela Merkel has said Germany is prepared to back a mix of measures to bail out a country if it could no longer fund itself on capital markets, but her core message is that any emergency support should be an IMF and joint bilateral aid combination.
Analyst Daniel Gros at the Centre for European Policy Studies conveyed the severity behind the dialogue. He said: “Here the message has been quite clear from Athens: We don’t want to do it on our own. And Germans say: We don’t understand, you can get the money and you have to face the market.”
Merkel said: “A good European is not necessarily one who offers help quickly, [but one that] respects the European treaties and national rights so that the stability of the euro zone is not damaged.”
She added: “We must put an end to using tricks.”