German resistance to Greek rescue abating

Ordinary Germans might be annoyed at Greece for plunging the euro into crisis but resistance to a big Greek bailout may be waning, according to opinion polls and street interviews. Germany had long been hesitant to back a multi-billion euro rescue to ease the Greek debt crisis, partly because many oppose bailing out a country that seemed to be living beyond its means.

But the reluctance appears to be abating as people fear that the crisis may worsen and damage the euro -- a serious concern in a country with a historical aversion to financial turmoil.

"People aren't as worked up about the issue as some media want you to believe," said Manfred Guellner, head of the Forsa polling institute. "Germans realise it's only a loan and that it's better to act now than regret inaction later."

Read Full Article from Reuters

- Posted: 2010-04-29 10:30:24

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