(04/03/10) -

Germans Reject Monetary Aid to Greece

(Angus Reid Global Monitor) – Over two thirds of people in Germany oppose a plan to give monetary aid to Greece, according to a poll by Forsa released by Stern. 68 per cent of respondents reject the notion of Germany providing Greece with financial assistance.

(Angus Reid Global Monitor) – Over two thirds of people in Germany oppose a plan to give monetary aid to Greece, according to a poll by Forsa released by Stern. 68 per cent of respondents reject the notion of Germany providing Greece with financial assistance.

Germany’s government is made of chancellor Angela Merkel’s Christian Democratic Party (CDU), its associate Bavarian Christian Social Union (CSU), and the pro-business Free Democratic Party (FDP).

Greece is currently facing a massive load of foreign debt—four times the rate allowed for European Union (EU) members—and is under pressure to deal with the problem. On Jan. 13, Greek prime minister Georges Papandreou vowed to introduce fiscal reforms to handle the deficit. The measures will include wage cuts to state employees and tax increases.

The German government—which heads the most solid economy in the EU—has expressed reservations about bailing out Greece, citing fears that other countries might follow suit in asking for help from the more successful members of the continental group.

On Mar. 25, Germany and France agreed to set up a contingency plan for Greece in case the country fails to secure lending to meet its obligations. The stand-by fund would include money from the EU and the International Monetary Fund (IMF). Germany has the right to veto the use of such funds by Greece.

The following day, Merkel spoke about the deal, saying, "I am very pleased with the compromise reached yesterday. I believe Europe has proven its ability to act on an important issue."

Polling Data

Do you support or oppose Germany providing financial assistance to Greece?