Germany Finance Ministry rejects the idea of setting up a special fund to bail out eurozone countries, like Greece, that run into fiscal trouble resulting from domestic budgetary problems that remain at the root of the problem.
A recent poll showed that over 53 per cent of Germans said the European Union should expel Greece from the euro zone (the 16 EU countries that share the euro currency) if necessary.
Greece’s deficit is the highest in the EU. At nearly 13% of GDP, the Greek budget deficit is over 4x the EU’s limit.
Members of German Chancellor Angela Merkel’s government have warned that a bailout for Greece would lead to subsequent bailouts of Portugal and Spain, the EU’s other failing economies.
