Between Berlin and a Hard Place: Greece and the German Strategy to Dominate Europe

Andrew Gavin Marshall

Between Berlin and a Hard Place: Greece and the German Strategy to Dominate Europe

By: Andrew Gavin Marshall

7 July 2015

Germany and the Troika: (left to right) German Chancellor Angela Merkel, IMF Managing Director Christine Lagarde, European Commission President Jean-Claude Juncker, European Central Bank President Mario Draghi Germany and the Troika: (left to right) German Chancellor Angela Merkel, IMF Managing Director Christine Lagarde, European Commission President Jean-Claude Juncker, European Central Bank President Mario Draghi

“They just wanted to take a bat to them,” said former U.S. Treasury Secretary Timothy Geithner, referring to the attitude of European leaders towards debt-laden Greece in February of 2010, three months before the country’s first bailout. Mr. Geithner, Treasury Secretary from 2009 until 2013, was attending a meeting of the finance ministers and central bankers of the Group of Seven (G7) nations: the United States, Japan, Germany, France, Britain, Italy and Canada.

It was the first occasion he had to meet Germany’s new Finance Minister, Wolfgang Schauble, presenting an opportunity to pressure the Europeans to end the crisis. The Europeans…

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