The Euro Is Ripping Europe Apart
“top-secret” report from the Greek Finance Ministry was leaked that claimed that Germany still owes Greece €162 billion in reparations. The report made waves, but it wasn’t clear whether the Greek government was serious about pressing ahead with the claims or was planning on burying them in the interest of smoothing over its relations with Germany.Under pressure from the anti-bailout parties, the ruling coalition has finally decided that it will, in fact, be asking Germany for the money. Germany has made it clear that its debt to Greece has long since been paid, and it considers the issue to be closed.This is bad news for Europe. It will make it harder for German politicians to support bailouts and additional relief for Greece, and it will further embitter discussions in European institutions. (Oh, and we doubt Greece will be seeing any reparations from Germany anytime soon.)The monetary union and the European project as a whole were supposed to help the continent pull together and put its troubled past behind it. Instead, its failures of design are kindling old grudges from a war that ended nearly 70 years ago and tearing the union apart.