Will Germany Break Out of the Box It Has Put Itself In?

Michael Stephens | April 24, 2012

In a radio segment for Ian Masters’ “Background Briefing,” Dimitri Papadimitriou speculates that Germany might just end up being the eurozone country that decides it’s not worth staying in the union.

Germany, says Papadimitriou, has boxed itself in such that, as one of the only eurozone countries that’s growing, it must ultimately bear the major responsibility for the rescue packages that are being offered for troubled countries like Portugal, Greece (x2), and Ireland—and that may soon have to be put in place for Spain.  While an exit is unlikely as long as Angela Merkel is in power, Papadimitriou reminds us that she’s up for re-election next year, and the winds of political change have started blowing in Europe.

Listen to or download the whole interview here (Papadimitriou’s segment begins at minute 37, with the discussion turning to German exit around 44:30):  http://archive.kpfk.org/mp3/kpfk_120423_170004dbriefing.MP3

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