What Germans Really Think About Greek Exit From Euro

How much support does Angela Merkel have for the hard line she is taking against Greece? Until recently Germans were almost equally divided on the issue but the tide looks to have turned decisively.

A poll conducted by German broadcaster ZDFsuggests that as many as 60% of German voters now favor Greece’s exit from the Euro.

ZDF also report that the overwhelming majority of Germans oppose the issuing of Euro-bonds that would mutualize Greek debts. The idea of mutualizing debt has been suggested as a way out of the Euro-zone crisis but would involve deeper political integration between the Euro-zone countries.

On the question of Greece’s further participation in the Euro, 49% favored a Greek exit in a previous poll in November 2011, compared to this week’s 60%.

The poll suggests that the hard line taken by Chancellor Merkel at meetings in Washington (the G8) and Brussels reflects the views of the German electorate.

Nonetheless, Merkel’s own personal rating has fallen in May, though she remains the most highly rated of Germany’s leading politicians.

For more on the IMF’s recent handling of the crisis and Christine Lagarde’s Pay Back Time comments go here. For more on the reasoning behind Germany’s hard line on Euro exit go here.

*The new poll was taken by telephone between 22 and 24 May 2012 with 1312 randomly selected, registered voters. The survey is representative of the population eligible to vote in Germany.  I have relied on Google Translate to render the findings into English.

Full article can be seen here:  http://www.forbes.com/sites/haydnshaughnessy/2012/05/28/clear-majority-of-germans-now-favor-a-greek-exit/