Forum Views ()
Forum Replies ()
Read more with google mobile :
Merkel must get Germans to back sound EU
Yahoo!
My Yahoo!
Mail
More Yahoo! Services
Account Options
New User? Sign Up
Sign In
Help
Yahoo! Search
web search
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Weekend Edition
Top Stories
Most Popular
Photos
Full Coverage
Sitemap
Merkel must get Germans to back sound EU
AFP - Sunday, January 2
Send
IM Story
Print
Merkel must get Germans to back sound EU
FRANKFURT (AFP) - – The debt crisis has strengthened Germany's hand in Europe, but Chancellor Angela Merkel will have a tough time convincing voters that leadership might also mean digging deep for additional aid.
"So far, people do not see the costs that might be associated with what politicians have agreed to, namely some nation states underwriting the debt of others," Barclays Capital economist Thorsten Polleit told AFP.
"It is an open question whether the crisis is over or whether we are just in the eye of the storm."
As the de facto eurozone paymaster, Merkel has imposed strict aid conditions and insisted member countries coordinate economic policies to parry future crises.
But she must still persuade voters that Germany cannot turn its back on Europe even if it means contributing to a permanent rescue fund.
"A unified Europe is the guarantor of our peace and freedom. The euro forms the basis of our prosperity," she stressed Friday in her New Year's address.
"Germany needs Europe and our common currency, for our own well-being and also to overcome big challenges worldwide."
But the crisis' final cost is not known and perpetual change generated by the eurozone project has unsettled many Germans already, psychologist Monika Mueller said.
The founder of FCM Finance Coaching told AFP it was hard for people to feel what belonging to the eurozone meant "because they are confused."
"When things are constantly changing, it's difficult" to define a clear European identity, she said. "It's not easy to understand what is really happening."
Merkel was criticised by EU leaders for holding back as the crisis unfolded, but has since reaffirmed German solidarity with its partners.
"No one in Europe will be left alone", she told the national parliament last month.
A majority of Germans oppose more aid packages however, and with the threat of a court challenge and seven regional elections this year, politicians will "probably tread cautiously," Commerzbank economist Eckhart Tuchtfeld said.
Germany profits from trade within the eurozone, which now counts 17 nations with Estonia's admission, and was the main donor when weak finances in partner countries required a trillion-dollar rescue package.
Europe's biggest economy might have to pony up again if Portugal and Spain issue distress calls following those from Greece and Ireland last year.
Germany's economic strength also stems from prudent fiscal management, which includes a 2009 debt brake law aimed at slashing the public deficit by 2016.
For average Germans, sacrifices have included wage stagnation, deregulated labour markets and higher sales taxes, and many resent having to pay now for profligate policies elsewhere.
"This is problematic, there is no doubt about that," Tuchtfeld said.
Polls for public televisions ZDF and ARD have found 62 percent of Germans opposed more support for eurozone partners, but an overwhelming majority of 88 percent agreed that a stable eurozone was in Germany's interest.
An icon of German stability is the national pension plan introduced in 1889 by Otto von Bismarck, Mueller said.
That system is now crumbling however, in part because of the country's low birthrate.
"The stability and safety that we were promised is vanishing," Mueller said. "This makes us probably more sensitive to what happens with money and security and stability."
Polleit, who is alarmed by soaring eurozone debt levels, said: "To make the 'rescue measures' work, Merkel must make a convincing case for Germany's special role in and responsibility for the European integration process.
"That may not be an easy thing to do."
Mueller said Germans had ambivalent feelings about taking the lead, including fear stemming from the country's role in World War II.
"It would be helpful to let go of this fear and this concept of not being allowed to be one of the leaders in Europe," the psychologist suggested.
"We could take even more responsibility, in a good way," she said.
Recommend
Send
IM Story
Print
News Search
Top Stories
Brazil's new president starts work, meets leaders
Merkel must get Germans to back sound EU
Viking wolves return for first solar eclipse of 2011
Britain set for rocky economic ride in 2011
New smoking laws takes force in Spain
More Top Stories »
ADVERTISEMENT
Most Popular
Most Viewed
No pardon for Wild West outlaw Billy the Kid
New smoking laws takes force in Spain
Anna Chapman stars in New Year 'Soviet spy film'
Colombia undertaker launches ghostly census
French model known for anti-anorexia ads dies
More Most Viewed »
More Most Recommended »
Elsewhere on Yahoo!
Financial news on Yahoo! Finance
Stars and latest movies
Best travel destinations
More on Yahoo! News
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Weekend Edition
Subscribe to our news feeds
Top StoriesMy Yahoo!RSS
» More news feeds | What are news feeds?
Also on Yahoo!
Answers
Groups
Mail
Messenger
Mobile
Travel
Finance
Movies
Sports
Games
» All Yahoo! Services
Site Highlights
Singapore
Full Coverage
Most Popular
Entertainment
Photos
Yahoo! News Network
Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Terms of Service |
Privacy Policy |
Community |
Intellectual Property Rights Policy |
Help
Other News on Sunday, 2 January 2011 Anna Chapman stars in New Year 'Soviet spy film'
Bolivian president rescinds decree that raised fuel prices
Anna Chapman stars in New Year 'Soviet spy film'
Estonia rings in 2011 as 17th eurozone member
Iraqi civilian deaths down in 2010
|
Palestinian woman dies after protest
|
Son of Iranian woman sentenced to death urges clemency
|
India ready to make history in final SA Test: Dhoni
Blast kills bomb squad pair in Thai south: police
Lethal bird flu confirmed in S.Korea wild duck
U.S. missile strikes kill 15 militants in Pakistan
Spanish smokers enjoy last puffs ahead of new law
Squaring Ashes series would boost Australia: Hussey
Supply ship sinks off Marshall Islands, 20 rescued
Activists clash with Japan whalers in Southern Ocean
US to deploy new intelligence drone in Afghanistan
Viking wolves return for first solar eclipse of 2011
NATO service member killed in south Afghanistan
Police quell riot at British prison
Britain set for rocky economic ride in 2011
Suicide bomber kills 21 at Egypt church
New smoking laws takes force in Spain
Floods of biblical proportions hit Australia's northeast
|
Iraqi civilian deaths down in 2010
Stalin statue blown up in Ukraine: Communists
Palestinian woman dies after protest
U.N. peacekeepers focus on reported Ivory Coast abuses
|
Danish attack plot was 'destined to fail': expert
Iran stoning woman says will sue German journalists
Cardinal says Cuba will free prisoners as promised
|
Three dead after Russian plane bursts into flames: officials
Son of Iranian woman sentenced to death urges clemency
Son of Iranian woman sentenced to death urges clemency
|
France rejects 'absurd' Taliban hostage spy claims
Suspected suicide bomber kills 21 at Egypt church
|
Global Weather-Celsius
Talk show queen Oprah gets royal help on OWN channel
US drone strikes kill 15 militants in Pakistan: officials
Russia TV pokes fun at ruling tandem in New Year cartoon
Beijing launches car quota to counter gridlock
Woman missing in Australian floodwaters
S.Korea KAMCO to buy $4.4 billion bad loans in 2011: report
S.Korea KAMCO to buy $4.4 bln bad loans in 2011-report
China Dec manufacturing eases on tightening moves
Pipeline begins supplying oil from Russia to China
Pope condemns Egypt church attack
U.N. Ivory Coast mission to probe reported abuses
|
Afghan envoys head to Pakistan for peace talks
Iran says shot down two spy planes in Gulf: report
|
Pakistan's main government coalition partner quits
|
NATO service member killed in south Afghanistan
Brazil's new president starts work, meets leaders
Egypt holds seven for questioning after church blast
|
Merkel must get Germans to back sound EU
Fears high prices will push Afghans back to opium trade
|
Suspect Russian arm dealer says rejects plea bargain
|
Pope calls Egypt church attack vile gesture
|
Nigerian militant group says not behind Abuja bomb
|
Record floods swamp Australia's northeast
China critic and Hong Kong democrat dies at 79
|
Hong Kong democracy icon Szeto Wah dies aged 79
Catastrophic Australian floods claim first victim
Oil seen hitting $100 a barrel this year
New Year's Eve sees 72 killed on Thailand's roads
17th Saarc summit in southern hemisphere
Your strengths and weaknesses in 2011
Doubts raised about giant spaceships coming to Earth
Ship Commander Under Fire For Lewd Videos He Filmed
British government steps in to save Beatle's home
Little Girl Loses Both Feet, A Hand After Five-Hour ER Wait
China's homegrown telecom technology to go global
Iran shops banned from selling Valentine gifts
ANALYSIS: North Korea may continue provocations in 2011
Texas sues EPA to save state air permitting program
Singer Shania Twain weds
Pepin Heights Orchard apple cider recalled on toxin fear
President Obama Condemns Attack On Christians In Egypt, Nigeria
Coumo's "austere" inauguration sets new tone in Albany
Shootout in Ohio leaves deputy, gunman dead
Plainfield, New Jersey burglar loses wallet in escape from scene of alleged crime
Ballard, WA. House Engulfed In Flames; Eight Safe After Rooftop Escape
Chicago Drivers Socked With Soaring Meter Rates; Loop Parking Rises To $5
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights