At this point, the demands on Germany for bailout and to abolish sovereignty, increasingly clash with what institutions and elements of Merkel's constituency can agree to, such that she might no longer be able to live up to the wishes of the British financial empire.
The fault lines are becoming more visible, for example, in Tuesday's Anglophile Spiegel Online, which suddenly includes a mass of historical references heretofore only used in LaRouche movement publications. The first one, by Jakob Augstein, clearly shows the British hand, basically calling for the elimination of Merkel as Chancellor, and providing a distorted comparison of the dimension of her ouster to the British coup against Bismarck, who could have prevented World War I.
The second article, on whether Greece should get more time to implement austerity, includes a blunt answer by Economics Prof. Stefan Homburg, detailed below.
Augstein's article is headlined "Europe Is Weimar," meaning that if Germany leaves Europe, the consequences will be the same as when Germany abandoned the Weimar Republic parliamentary democracy. Interestingly, he attacks Merkel for being just an Atlanticist, for whom "Europe is not a matter of her heart. America is weak now, and Merkel and Bild Zeitung are greatly mistaken, if they undermine the axiom of postwar Germans, that there is a way to act alone, outside of the "destiny union" of Europe. She pretends, Germany could choose between a German way and a European way, but that is not true: What will she do, if the euro collapses, the Schengen area, possibly the whole Acquis Communitaire body of European Union Law, i.e., everything that 60 years of European integration has accomplished? Will she bet on China?"
Showing his true colors, Augstein goes on to defend the banking union and Eurobonds, which will "integrate Germany into a system of reciprocal security." The most ominous point comes at the end, when he refers to the role of individuals in history, referring to Nietzsche, who said that one has to consider the most important question of all: "What would have happened, if...?" "We like to attribute history to structures. But at the pivots of history the individual acts. If the 90-day Kaiser Friedrich III had not died of laryngeal cancer and if Bismarck then had stayed longer at his side, then possibly would the Great War [World War I] have been prevented?"
He concludes by saying, that an SPD Chancellor would have acted differently in the beginning of the crisis and that one can hope, that a new Chancellor — after the next election — will act differently. Already, N.R.W. Minister President Hannelore Kraft (SPD) is the most popular politician in Germany — leaving Merkel in her wake. "Europe only has to hold out so long."
Then, in the "pro and con" over whether Greece should get more time to implement the austerity policies, "economic wise man" Prof. Peter Bofinger says yes. He does not question the euro system, but warns of the effect of a Brüning policy, which led "our country first into economic depression and then into the political catastrophe."
Most interesting, Economics Prof. Stefan Homburg instead says that imposing austerity policies on all the countries in Europe will not work anyway. Instead of wishful thinking about Greece leaving the Eurozone, one should rather ask: "Should not Germany exit the Eurozone?" In his view, Germany should now prepare for an "orderly liquidation or if necessary break with the euro unilaterally." Of course, this will create turbulence, and will have costs, but it is better to end this tragedy now, than having to do it later anyway. The Eurozone will fail, as every currency union in history has failed. And it is not a solution to centralize economic, financial, and social policy. "A Brussels tyranny [Gewaltherrschaft] could work for a short time, but it would encourage nationalist tendencies and tensions and in the end break into pieces. Ex-Yugoslavia and the former Soviet Union are a strident reminder, not to walk this erroneous path. Schäuble's plan for an EUSSR fuels exactly the kind of war danger against which the EU was created as a onetime successful peace project. Peace in Europe is more important than economic conjuncture, even if the financial sector and their propagandists and economic wise men might view this differently. In the 1920s, Europe quarrelled about debt matters, and France marched into the Ruhr area, after Germany had declared itself insolvent. The adverse feelings from this created the ground for World War II. Already now, the quarrel in the Eurozone is showing similar consequences, as we can see in German pubs and by the burning German flags in Athens. This will intensify on the way into the debt union. Reason dictates a return to a basic pro-European feeling by national currencies, democracy and self-responsibility."
That is only possible by implementing the Glass-Steagall principle and a true economic recovery plan, which we are mobilizing for now internationally.