Possible default of Greece and the output power from the Eurozone would forever cast a shadow on the reputation of German Chancellor Angela Merkel as a strong politician, a leading Europe to prosperity.
The head of government of Germany will be faced not only with the need to overcome a financial impact, but also to explain the reasons for the collapse of their own policies.
If Greece does not agree with international creditors in the face of the European Commission and the IMF, the government will have to declare a default and exit the Eurozone in the foreseeable future. The responsibility for this decision will largely be borne by the German Chancellor Angela Merkel as the most visible and influential political figure in the European Union.
Merkel may go down in history as the agent, at which the Eurozone has lost its unity, and the Union received a deep crack able in the future to destroy the entire European structure. In private, the Chancellor confessed that her biggest fear - the accusation of Germany that she 3 times per century ruined Europe, Reuters reports.
During the negotiations that led Athens with lenders, German Finance Minister Wolfgang Schaeuble has sent some signals that he has the opportunity to organize the Eurozone and without the participation of Greece. Merkel has always stressed that will focus on how to prevent a similar scenario.
The difficulties of Greece could trigger a humanitarian crisis in southern Europe, spreading across countries that have only begun to recover from years of deep financial recession. Besides, it will lead to a new round of discussion about German politics of the tough economy.
Merkel, which will be addressed all the issues actually have nothing to argue, because in the case of Greece this plan obviously didn't work. However, in Germany the main culprit of pre-default state powers believe the new Greek government led by Alexis Tsipras.
The Prime Minister stressed that doing everything possible to ensure the financial well-being of citizens and provides a workable reforms, which the IMF and the European Commission has for some reason rejected. But in Germany it is widely believed that Tsipras and the adherents of the Greek negotiations behaved irresponsibly.
Remember, Greece is negotiating with the European Commission and the IMF about the settlement of private external debt, which exceeds the 240 billion euros. The parties intended to find a solution to June 18, but has not succeeded. The next significant date for Athens remains 30 June, when the deadline for payment of the next tranche. In case If this does not happen, and with creditors fail to reach agreement on deferral, Greece faces default.
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