Conservatives in Germany are furious as Chancellor Angela Merkel commits the country to bailing out other countries in Europe who have been running up debts and living on borrowed money for years. Is this the beginning of Germany’s Tea….errr…Beer Party movement? From Der Spiegel:
Many in Chancellor Angela Merkel’s conservative Christian Democratic Union party are unhappy about Germany’s growing commitment to euro bailout packages and fear that the nation is being locked into a “transfer union” in which German taxpayers will end up bankrolling high-debt nations that got themselves into trouble through their own profligacy.
Germany’s Tea Party?
The dissatisfaction is dangerous for the chancellor because it could put her parliamentary majority at risk in a crucial September vote on the July 21 agreement by euro zone leaders to widen the scope of the €440 billion ($637 billion) euro rescue fund.
Klaus-Peter Wilsch, a member of parliament for the CDU, is among the most vocal critics of Merkel’s euro policy, and says dozens of fellow MPs feel the same way. “I know from personal conversations that there is great dissatisfaction among 30 to 40 conservative MPs,” he says.
The full story is here.
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