Germans, Markets Fret Over Looming Greek Elections

Germans and anxious investors alike are wringing their hands over the looming elections in Greece. After last month's elections left the government hamstrung by a political impasse, Greeks will vote again in what many see as a referendum on the euro and a bellwether of its sustainability. As Europe's debt crisis balloons, Germany's economy has been strong — but its neighbors' suffering threatens the exports on which it relies, and Germans resent the neighbors' demands. German Chancellor Angela Merkel steadfastly has refused the proposal to consolidate all euro zone borrowing into one Eurobond. Despite broad German faith in the European Union — a recent Pew study found Germans more supportive than most other Europeans — bailout fatigue has set in. But Germans also know that if the bailouts stop and Greece drops the euro, German exports to Greece will plummet. Investors worldwide worry such a move could unravel the entire euro zone.

Read More

Contact Us