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The Hague - The German government has basically accepted that Greece may soon abandon the euro and reclaim its traditional currency, the drachma.
Both Chancellor Angela Merkel and her minister of finance have acquiesced in a “Grexit” if the Greek voters decide to put the euro-sceptic politician Alexis Tsipras in charge when they go to the ballot box on January 25. This election has to be held in accordance with the country’s constitution, as parliament could not elect a new ceremonial head of state late last year.
Opinion polls put the leftist party Syriza, led by Tsipras, in front with 28% to 30% of the votes. This is more than the 25% to 27% of Prime Minister Antonis Samaras’ conservative New Democrats and gives him first shot at building a government coalition.
Tsipras wants to abandon the severe budget cuts forced on Greece by the European Union after years of Greek state spending with considerable abandon. He wants to stay inside the eurozone, but threatens to take the country out of the euro if the EU does not give him much more latitude to increase the budget deficit. He has also threatened to cancel the payment of Greece’s debts.
Merkel has hitherto consistently opposed a “Grexit”. If a report by Der Spiegel is accurate, this means a considerable change of policy.
EU membership 'irrevocable'
It is speculated in the German press that this news was deliberately leaked to the magazine. It is intended as a warning to the Greeks to twist their arm, commentators say.
It appears that the German coalition (of Merkel’s Christian Democrats and the Social Democrats) are of the same opinion. Sigmar Gabriel, Social Democrat leader and Vice-Chancellor, even said on Sunday that Germany is not prepared to be subjected to “extortion” any more.
A spokesperson of the European Commission – the EU’s “cabinet” – said in Brussels on Sunday that any membership of the eurozone is “irrevocable”.
Both Chancellor Angela Merkel and her minister of finance have acquiesced in a “Grexit” if the Greek voters decide to put the euro-sceptic politician Alexis Tsipras in charge when they go to the ballot box on January 25. This election has to be held in accordance with the country’s constitution, as parliament could not elect a new ceremonial head of state late last year.
Opinion polls put the leftist party Syriza, led by Tsipras, in front with 28% to 30% of the votes. This is more than the 25% to 27% of Prime Minister Antonis Samaras’ conservative New Democrats and gives him first shot at building a government coalition.
Tsipras wants to abandon the severe budget cuts forced on Greece by the European Union after years of Greek state spending with considerable abandon. He wants to stay inside the eurozone, but threatens to take the country out of the euro if the EU does not give him much more latitude to increase the budget deficit. He has also threatened to cancel the payment of Greece’s debts.
Merkel has hitherto consistently opposed a “Grexit”. If a report by Der Spiegel is accurate, this means a considerable change of policy.
EU membership 'irrevocable'
It is speculated in the German press that this news was deliberately leaked to the magazine. It is intended as a warning to the Greeks to twist their arm, commentators say.
It appears that the German coalition (of Merkel’s Christian Democrats and the Social Democrats) are of the same opinion. Sigmar Gabriel, Social Democrat leader and Vice-Chancellor, even said on Sunday that Germany is not prepared to be subjected to “extortion” any more.
A spokesperson of the European Commission – the EU’s “cabinet” – said in Brussels on Sunday that any membership of the eurozone is “irrevocable”.
