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Blog Conversation avec Jacques Attali - France | Sunday, November 20, 2011

An end to Berlin's blockade

Germany benefits greatly from Europe and so should end its blockade of common euro bonds, writes Jacques Attali in his blog Conversation with Jacques Attali: "Berlin must understand three things if it doesn't want to plunge Europe into chaos once again. Firstly: Germany is not the best pupil in the EU, who is being forced to pay for the others' mistakes. German public debt is at 82 percent of GDP and consequently almost as high as France's. Secondly: Germany profits the most from Europe. The EU co-financed the reunification and allowed Germany to become a top dog in exporting agricultural products, because it employs workers from Eastern Europe at the wages they're used to getting back home, which France neither wants to do nor can do. Thirdly: Germany stands to lose a great deal in leaving the Eurozone."

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