Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Foreign Affairs

bemildred

(90,061 posts)

2. Merkel admitted in 2011 Greek debt unsustainable

Reply to unhappycamper (Original post)

Thu Jul 2, 2015, 08:32 AM

Jul 2015

German chancellor Angela Merkel admitted in a 2011 phone call that Greek debt would be unsustainable even after a second debt write-down, according to a phone call intercepted by the NSA.

A transcript of the call from October 9th 2011 suggested the German leader was “at a loss” as to whether another haircut (a debt write-down) - or a transfer union (between EU member states) would be best for addressing the Greek crisis.

According to the summary, part of a cache of NSA documents handed by Wikileaks to the German press, finance minister Wolfgang Schäuble was reportedly supportive of another haircut, “despite Merkel’s efforts to rein him in”.

http://www.irishtimes.com/news/world/europe/merkel-admitted-in-2011-greek-debt-unsustainable-1.2270858

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

2 replies

= new reply since forum marked as read

Highlight:

Wikileaks: 'Massive' NSA spying on top German officials [View all] unhappycamper Jul 2015 OP

British government did spy on Amnesty International bemildred Jul 2015 #1

Merkel admitted in 2011 Greek debt unsustainable bemildred Jul 2015 #2