Merkel's austerity medicine is destroying Europe

Posted on: 18 November 2013 by Olderiswiser Editorial

Angela Merkel's hard-line austerity measures have helped save the single currency but at huge cost to bail-out nations such as Greece, Portugal and Ireland.

Angela Merkel EU debt crisis

On Tuesday 26 November Intelligence Squared holds a debate at Cadogan Hall, London, asking whether the effect that German Chancellor Angela Merkel's austerity conditions have had on debt-laden EU partners risks destroying the European Union. 

Chancellor Merkel has become the bete noir of the EU debt crisis; for many she is the embodiment of punishing austerity and needless pain. She presides over Europe's strongest, most stable economy yet she insists on imposing crushing financial measures on fellow EU states; conditions that are strangling their economies, creating huge unemployment and making it impossible for them to pay off their debts - the very reason austerity measures were imposed on them in the first place.

Unemployment in Germany hovers around 5.4% compared to Europe's average of 12%. It is no accident that that this is the case, Merkel's three-terms in office have been a model of conservatism and prudence, while southern European states were happy to follow the economic boom and see wages soar, the German government kept real wages down - resulting in low rates of growth rates - while adhering to to the fiscal discipline that all states joingin the Euro had agreed.

Why should Germany pick up the tab for the lack of foresight of other European nations?

The debate at Cadogan Hall entitled Angela Merkel is Destroying Germany, takes place on 26 November and tickets are available priced £27.00.

 

Speaking for the motion


Mehdi Hasan

British polictical journalist and contributor to The Spectator and political editor of the Huffington Post website.

Euclid Tsakalotos

Professor of economics at the University of Athens, member of Parliament for the Syriza party in Greece, and co-author of 22 Things that They Tell You about the Greek Crisis that aren't So (2013).

 

Speaking against the motion


Antony Beevor

British historian and award-winning author of several popular books chronicling the Second World War. Bevvor is a Fellow of the Royal Society of Literature.

Christine Ockrent

Journalist and former chief operating officer of France 24. She is a graduate of the Institute of Political Studies in Paris.

 

Angela Merkel is Destroying Europe

Take place at: 

Cadogan Hall
5 Sloane Terrace, 
London, 
SW1X 9DQ
 
020 7730 4500
 
 
 


View Larger Map

Share with friends



Do you agree with this Article? Agree 0% Disagree 0%
You need to be signed in to rate.

Loading comments...Loader