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German politicians return to Berlin for key Greek bailout vote German politicians return to Berlin for key Greek bailout vote
(35 minutes later)
For the second time this summer, German politicians have been forced to interrupt their holidays and fly back to Berlin for a key vote on bailing out Greece.For the second time this summer, German politicians have been forced to interrupt their holidays and fly back to Berlin for a key vote on bailing out Greece.
In what is being seen as Angela Merkel’s last chance to ensure that Athens stays in the eurozone, MPs will decide on Wednesday whether to approve the latest €86bn (£60.5bn) rescue, Greece’s third.In what is being seen as Angela Merkel’s last chance to ensure that Athens stays in the eurozone, MPs will decide on Wednesday whether to approve the latest €86bn (£60.5bn) rescue, Greece’s third.
The sense of deja vu that has descended over the capital has prompted newspaper headlines such as “It Ain’t Over Yet” and “Tax Payers to the Rescue Again”.The sense of deja vu that has descended over the capital has prompted newspaper headlines such as “It Ain’t Over Yet” and “Tax Payers to the Rescue Again”.
Once again, the German chancellor faces the prospect of a large chunk of her conservatives - made up of Christian Democrats (CDU) and their sister party, the Christian Social Union (CSU) - voting against the deal, increasing the pressure on her and her finance minister Wolfgang Schäuble to ensure that the plan works this time around. Once again, the German chancellor faces the prospect of a large chunk of her conservatives – made up of Christian Democrats (CDU) and their sister party, the Christian Social Union (CSU) – voting against the deal, increasing the pressure on her and her finance minister Wolfgang Schäuble to ensure that the plan works this time.
Although a yes vote is not in doubt, due to support from Merkel’s junior coalition partner the Social Democrats (SPD) and the opposition Greens, the divisions within the German leader’s own ranks are becoming ever more pronounced.Although a yes vote is not in doubt, due to support from Merkel’s junior coalition partner the Social Democrats (SPD) and the opposition Greens, the divisions within the German leader’s own ranks are becoming ever more pronounced.
Insiders estimate that up to 120 conservatives out of 311 might oppose the deal.Insiders estimate that up to 120 conservatives out of 311 might oppose the deal.
On Tuesday Austria and Spain gave their approval, and if Germany follows suit €13bn should be in Athens on Thursday to pay pressing bills. A further €10bn will be set aside at the European Stability Mechanism, earmarked to bolster Greek banks’ capital. On Tuesday Austria and Spain gave their approval, and if Germany follows suit €13bn should be in Athens on Thursday to pay pressing bills. A further €10bn will be set aside at the European stability mechanism, earmarked to bolster capital in Greek banks.
Related: Greece bailout deal: Angela Merkel expects IMF involvementRelated: Greece bailout deal: Angela Merkel expects IMF involvement
But Klaus-Peter Willsch, one of the German CDU rebels, is angered by the fact that it is far from clear what MPs will be voting on. While Merkel has insisted that the International Monetary Fund is participating in the new bailout, how and to what extent remains unclear.But Klaus-Peter Willsch, one of the German CDU rebels, is angered by the fact that it is far from clear what MPs will be voting on. While Merkel has insisted that the International Monetary Fund is participating in the new bailout, how and to what extent remains unclear.
“We are not sure if we’re voting for a deal involving the IMF or not,” said Willsch. “But not only that, we only received the documents about the vote last night as a 207-page PDF. Many will be reading it on their way back from holiday, but they’ll hardly have time to check the details.”“We are not sure if we’re voting for a deal involving the IMF or not,” said Willsch. “But not only that, we only received the documents about the vote last night as a 207-page PDF. Many will be reading it on their way back from holiday, but they’ll hardly have time to check the details.”
Willsch, who has been a vocal opponent of euro bailouts since 2011, has written a book about the battle between the “rescuers” and the “rebels”. He is angry about what he calls the “collective breach of law” by eurozone members , insisting that their own rules bar them from bailing out a fellow member. He also talks about the “Pillaging of Germany by the bankrupt states of Europe”. Willsch, who has been a vocal opponent of euro bailouts since 2011, has written a book about the battle between the “rescuers” and the “rebels”. He is angry about what he calls the collective breach of law by eurozone members, insisting that their own rules bar them from bailing out a fellow member. He also talks about the “pillaging of Germany by the bankrupt states of Europe”.
In Redeemers and Rebels, which in timely fashion comes out as an ebook on Friday, and in hardback in September, Willsch argued that Greece should leave the single currency. He has argued in Redeemers and Rebels – which in timely fashion comes out as an ebook on Friday and in hardback in September – that Greece should leave the single currency.
Although he did not oppose the introduction of the single currency, he said: “We introduced it with far too much euphoria and not enough thought as to the mechanics of it. Now we face the prospect of forcibly keeping it together. But there will be no future for it if we have to do that.”Although he did not oppose the introduction of the single currency, he said: “We introduced it with far too much euphoria and not enough thought as to the mechanics of it. Now we face the prospect of forcibly keeping it together. But there will be no future for it if we have to do that.”
Willsch, was one of 60 rebels in last month’s vote on whether to allow negotiations for a third bailout to proceed. He insists that excluding Greece from the euro would be the best solution for both parties. “Then they can get back on their own feet, grow their own tomatoes and develop domestic produce at a much higher standard than if they were to continue importing tomatoes from Holland at huge cost to feed the tourists,” he said.Willsch, was one of 60 rebels in last month’s vote on whether to allow negotiations for a third bailout to proceed. He insists that excluding Greece from the euro would be the best solution for both parties. “Then they can get back on their own feet, grow their own tomatoes and develop domestic produce at a much higher standard than if they were to continue importing tomatoes from Holland at huge cost to feed the tourists,” he said.
While his views might appear highly patronising to some, they are shared by a growing number of conservatives who have angrily resisted threats this week by the CDU’s chief whip, Volker Kauder, to toe the party line or face consequences. While his views might appear highly patronising to some, they are shared by a growing number of conservatives who have angrily resisted threats this week by Volker Kauder, the CDU’s chief whip, to toe the party line or face consequences.
One undecided MP, Paul Lehrieder of the conservative CSU also expressed his misgivings that the IMF’s involvement – which conservatives hold up as ensuring the Greeks would actually implement the reforms that they sign up to – is far from certain. “Up to now it was a ‘sine qua non’ that the IMF was involved,” he said. “We will have to keep a very close eye on things.” The IMF has said it will wait until October to decide whether it will participate in the deal. That uncertainty may increase the number of no votes. Paul Lehrieder of the conservative CSU also expressed his misgivings that the IMF’s involvement – which conservatives hold up as ensuring the Greeks would actually implement the reforms that they sign up to – is far from certain. “Up to now it was a sine qua non that the IMF was involved,” he said. “We will have to keep a very close eye on things.” The IMF has said it will wait until October to decide whether it will participate in the deal. That uncertainty may increase the number of no votes.
Schäuble, who from the sidelines of marathon talks between EU leaders in Brussels last month, proposed a Greek “timeout” from the euro, has this week been racing to secure the maximum amount of support for the deal. He said he was now convinced of the Greek government’s willingness to reform. “I can argue with full conviction, partly because I haven’t taken this decision lightly myself ... that the correct thing to do is to vote for this,” he told German public television. Schäuble, who from the sidelines of marathon talks between EU leaders in Brussels last month proposed a Greek “timeout” from the euro, has this week been racing to secure the maximum amount of support for the deal. He said he was now convinced of the Greek government’s willingness to reform. “I can argue with full conviction, partly because I haven’t taken this decision lightly myself ... that the correct thing to do is to vote for this,” he told German public television.
Further complicating the debate are the IMF’s demands for debt relief, which Merkel, with the support of most Germans, has ruled out, saying that it is against EU treaty rules. However, Merkel may be forced into a climbdown that could involve extending the repayment period by decades. Further complicating the debate are the IMF’s demands for debt relief, which Merkel – with the support of most Germans – has ruled out, saying that it is against EU treaty rules. However, Merkel may be forced into a climbdown that could involve extending the repayment period by decades.
Some critics say, however, that could unfairly force the burden of today’s problems onto future generations.Some critics say, however, that could unfairly force the burden of today’s problems onto future generations.
In a commentary for the tabloid Bild, Ernst Elitz, a veteran broadcast journalist, accused German politicians of repeatedly breaking their promises over Greece. “The majority of the MPs work along the lines of: ‘why should we worry ourselves about the costs of these multibillion-euro bailouts’. But each new rescue package will have to be shouldered by future taxpayers, when today’s politicians have long since retired. That is unacceptable, and has nothing to do with intergenerational justice,” he wrote. In a commentary for the tabloid Bild, Ernst Elitz, a veteran broadcast journalist, accused German politicians of repeatedly breaking their promises over Greece. “The majority of the MPs work along the lines of: ‘why should we worry ourselves about the costs of these multibillion-euro bailouts?’ But each new rescue package will have to be shouldered by future taxpayers, when today’s politicians have long since retired. That is unacceptable, and has nothing to do with intergenerational justice,” he wrote.
Whilst most Germans remain doubtful that this bailout will be the last, some have expressed misgivings about the pressure Greece is being put under and fears that Germany will be increasingly blamed for the country’s plight.Whilst most Germans remain doubtful that this bailout will be the last, some have expressed misgivings about the pressure Greece is being put under and fears that Germany will be increasingly blamed for the country’s plight.
Those fears were fuelled on Tuesday when when it was announced that Germany’s airport operator Fraport has been given permission to operate 14 regional airports in Greece, including hubs in Mykonos, Rhodos, Corfu and Thessaloniki, under Athens’ commitment to raise €50bn from selling off state assets. Those fears were fuelled on Tuesday when when it was announced that Germany’s airport operator Fraport has been given permission to operate 14 regional airports in Greece, including hubs in Mykonos, Rhodes, Corfu and Thessaloniki, under Athens’ commitment to raise €50bn by selling state assets.
Commentators have warned that the move will only increase resentment towards Germany, and stoke anxieties that Germany is taking over the running of the country.Commentators have warned that the move will only increase resentment towards Germany, and stoke anxieties that Germany is taking over the running of the country.
Hans-Werner Sinn, one of Germany’s leading economists, accused politicians of acting “as if money grows on trees”. “Every household in Greece has effectively received €83,000 in credits which have reaped nothing so far except for a sense of familiarisation ... this has to end,” he said. Hans-Werner Sinn, one of Germany’s leading economists, accused politicians of acting as if money grows on trees. “Every household in Greece has effectively received €83,000 in credits which have reaped nothing so far except for a sense of familiarisation ... this has to end,” he said.
Any fears that the government’s Greek politics might affect Merkel’s chancellorship, however, were brushed aside by the rebel MP Willsch. He insisted that opposition to her euro politics would not translate into opposition of Merkel herself, even if the parliament was asked to vote on a fourth bailout – a scenario which is increasingly being discussed in Berlin.Any fears that the government’s Greek politics might affect Merkel’s chancellorship, however, were brushed aside by the rebel MP Willsch. He insisted that opposition to her euro politics would not translate into opposition of Merkel herself, even if the parliament was asked to vote on a fourth bailout – a scenario which is increasingly being discussed in Berlin.
If Wednesday’s bailout vote were to be accompanied by a vote of confidence in the chancellor, he said: “I would vote ‘no’ to the bailout, but ‘yes’ to Merkel, every time.”If Wednesday’s bailout vote were to be accompanied by a vote of confidence in the chancellor, he said: “I would vote ‘no’ to the bailout, but ‘yes’ to Merkel, every time.”