As far as austerity is concerned, even after the September elections Germany will not turn the page. The Germans have benefited from the crisis, and even if the Bundesbank itself has reservations about the general direction of European economic policy, Berlin has no interest in changing course.”

So says Emiliano Brancaccio, researcher and professor of Economics at the University of Sannio. A report by the Bundesbank said that Greece will need further aid by the spring of 2014, in a clear, if indirect criticism of the policies of German Chancellor Angela Merkel. Continue reading →