Brüderle urges change of course from Athens
Video Brüderle: "Roesler says what everyone"
Video Poor outlook for Germany
Infographic Greece's debt - a comparison
(18.07.2012)
FDP chief Brüderle has requested Greece to change course. Athens would finally set the course for reform, he told ZDF television. "The key to solving the crisis lies in Athens," said Brüderle - and Economics Minister Rösler also took under his protection.
Greece had to finally comply with its commitments, Rainer Bruederle told ZDF television on Wednesday morning magazine. Germany's Economics Minister Philipp Rösler have expressed his doubts about the fulfillment of conditions by the Greek government saving only what was being discussed for a long time.
Brüderle: Germany is not unlimited load
"The decision as to what happens next is in Greece, in Athens. This is a sovereign state, which has also allowed the luxury to perform in the worst crisis of his country's two elections," said Brüderle. "That's their decision, but then they must also represent the consequences now."
Brüderle said that Europe is a €-exit Greece better equipped than two years ago. There was the rescue fund EFSF, and the broader bailout fund ESM was launched. "Greece has to know what it wants," warned Brüderle. It would eventually come to a clearing. The German government budget is in crisis is not unlimited load. The decision to show the rating agency Moody's, the outlook for Germany from "stable" to "negative" take back.
Moody's lowers outlook for EFSF
Moody's has also been the view of the creditworthiness of the bailout EFSF lowered to negative. In support of the rating agency pointed early Wednesday morning on the reduction of the outlook for Germany, the Netherlands and Luxembourg. All three contribute significantly to the rescue on, only 29.1 percent Strap on Germany. So far, Moody's rated the outlook for the EFSF with stable.
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Germany limited load
In addition, lowered the credit rating agency for the view of Baden-Wuerttemberg, Bavaria, Berlin, Brandenburg, North Rhine-Westphalia and Saxony-Anhalt from "stable" to negative. "The assessment of the state-owned German Railways and the German Air Traffic Control (DFS) was on "negative".
The weaker assessment for Germany had justified the U.S. agency with growing risks from the euro crisis. A negative rating outlook means that after some time, a downgrading of the credit could be paid - which often leads to higher costs for new loans for themselves.
Next safe haven for investors
In the opinion of economic experts Peter Bofinger, Germany will, however, continue to be a safe haven for investors. "The creditworthiness of the Federal Republic of Germany is estimated as high as ever since its inception. Not go more confidence," Bofinger said the "Saarbrücken newspaper." The discrepancies found by the U.S. rating agency Moody's negative outlook is pessimistic for him, so Bofinger.
"When investors give the German state out of money, who to give it then? Is indeed enough capital available," said the economist. This capital could move not only in safe also, but smaller countries like Sweden or Norway. "Except as Germany remain, only Japan, the United States or Great Britain. Only the government deficits are much higher there than here." Large investors such as insurance companies and foundations do not come over to Germany, Bofinger said.
Economists submit master plan
Nevertheless, Bofinger is one of a group of 17 European economists who urgently require more efforts by governments to prevent the imminent collapse of yet. "Europe has to sleepwalk to a catastrophe of incalculable proportions", says a report. The economists suggest as an acute crisis measure, a debt fund. This would allow long-term liabilities falling back to a sustainable level, said Lars Feld, co-author of the report, "Financial Times Germany". A long-term transfer union economists reject the other hand, as well as from € bonds.
A gradation is by no means a foregone conclusion. The leading rating agency Standard & Poor's had questioned a few months ago the head of Germany's creditworthiness. Ultimately, the note remained untouched.
