Hopes that the creation of the euro would force rational economic behaviour on all sides were in vain
Oskar Lafontaine, the German finance minister at the launch of the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is “leading to disaster”.
Oskar Lafontaine, the German finance minister who launched the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is "leading to disaster". "The economic situation is worsening from month to month, and unemployment has reached a level that puts democratic structures ever more in doubt," he said.
Five years ago Ashoka Mody was an assistant director at the International Monetary Fund (IMF), responsible for some of the bailouts required during the euro crisis — but now he thinks it would be best if Germany left the eurozone.
Moment of Recognition
It appears a majority of German citizens have finally had enough of chancellor Angela Merkel saying one thing and doing another in regards to bailouts. They have also had enough had enough of Mario Draghi and his policies.
This is what peak bluffing looks like. Moments after there was much hope for a deal, suddenly ze Germans yanked the carpet from under any potential leverage Greece may have though it had when the Maltese foreign minister said: