Media Charges Berlin Government of Misleading Taxpayers

As per a recent report, the Berlin government is being alleged of misleading taxpayers by the German media over actual costs of saving Greece. A few papers have been complaining that the deal is not justified on Ireland.

It is being said that a large portion of Greek debt would eventually need to be cancelled by the eurozone. A package of measures has been agreed upon earlier this week by the eurozone finance ministers. These measures include extending debt maturity dates and cutting interest rates.

The aim of the same is to bring a reduction in the Greek debt by the arrival of 2020 such that it reaches 124pc of gross domestic product. The Bundestag is today being hoped to vote on the same.

However, there is no doubt that the Bundestag would approve the same. But, it is being doubted that the anger among German newspapers and lawmakers, which is deepening day by day, is a hint that Chancellor Angela Merkel, who is ahead of federal elections to go next September, would face many political risks.

"After these crisis negotiations Finance Minister Wolfgang Schaeuble can no longer maintain that saving the euro costs no money", Holger Steltzner was quoted as saying in the paper.