Greece Worried Eurozone Could Collapse

And Greece is willing to help.

Tsipras

Greek prime minister Alexis Tsipras has just pointed out to Merkel, Hollande & Co. that his country, accounting for a whopping 2% of the eurozone’s economy, is now finally ready to lend officials in Brussels all the money they will need in the turbulent times to come. Provided, of course, that they hand it all over to Greece first (along with a couple zillion euros on top for administrative fees).

Let’s get this over with, people.

„Es wäre der Anfang vom Ende der Eurozone.“ Tsipras warnte, dass die Kosten für die europäischen Steuerzahler enorm seien.

 

Sure Is Cold In Here

Cold

The issues at stake are not trivial ones. At the core of the Franco-German conflict is no less a matter than the question of how Europe can shake off the current crisis. Merkel is convinced this can only be achieved by implementing reforms — austerity, liberalization of the labor market and restructuring of social welfare systems.

But Hollande is unwilling to let Germany impose its model on France. He fears the European recession will only worsen if Berlin succeeds in implementing its austerity plans.

Even in the euro crisis, Germany is reluctant to be seen as sole leader. It badly needs a French economic revival to have a plausible partner at the top again.

“This is why, ultimately, it does not matter whether they like each other—that has not been the case for years.”

Merkozy This Is Not

How about Hollmerk?

The two capitals (Berlin and Paris) always begin from very different positions, whether there is a socialist or conservative administration in Paris.

The concern in Berlin is over what is seen as the absence of a clear strategy on eurozone reform from the new French government. There is a deep suspicion that France is happy to have a weaker euro, higher inflation, and a looser monetary policy than Germany.

Mr Hollande’s refusal to incorporate the recent “fiscal compact” into the French constitution is one reason that Germany is now pushing for every country to sign a bilateral budget “contract” with the European Commission, that can be enforced by a powerful budget commissar… But Paris regards Ms Merkel as being overly focused on building deeper European political integration in a way that ignores deep-seated reticence in France reflected in the 2005 referendum defeat of the then-planned EU constitution. 

Now That’s What I Call Starting Off With A Bang

A presidential jet carrying newly inaugurated French President Francois Hollande was hit by lightning en route to Berlin and forced to turn back to Paris, but the Socialist was unharmed and took off again in another plane, a presidential source said.

Damn. This Hollande guy is definitely more flashy than his predecessor Sarkozy was. When it comes to lightning, I mean.

Blitzschlag hin oder her. Angela Merkel empfing den französischen Präsidenten im Kanzleramt per Handschlag.

PS: Is there a metaphor here or something?