Angela Merkel 'profoundly disturbed' after poll shows over half of Germans believe they would be better off without euro. Survey comes as expectations grow that Germany will have to play big role in bailing out Greece and SpainIt also shows 71 per cent of Germans think Greece should leave euro if it fails to carry out austerity plan By Allan Hall Published: 16:09 GMT, 30 July 2012 | Updated: 23:05 GMT, 30 July 2012 'Profoundly disturbed': Angela Merkel's response to a survey showing over half of Germans want out of the euro Angela Merkel was last night said to be ‘profoundly disturbed’ after a poll showed that a majority of Germans want to ditch the struggling euro.
Sources in Berlin said the German chancellor was shocked by the evidence of growing Euroscepticism in her country, at a time when Germany is under huge pressure to bankroll a rescue of the single currency. The poll in a German newspaper found that 51 per cent of Germans think the country should return to the deutschmark. It is the first poll to show that more want to leave the euro than stay in it. Germany's coveted AAA credit rating slashed to 'negative' as eurozone debt crisis continues to escalate. Moodys lowered Germany's outlook from 'stable' to 'negative' A similar move was announced for the Netherlands and Luxembourg All three could potentially have to stump up cash to bail out Spain and ItalyGerman government claims its economy 'remains very solid' Move puts pressure on FTSE 100 but markets stabilise this morning By Emily Allen Published: 07:23 GMT, 24 July 2012 | Updated: 09:58 GMT, 24 July 2012 Moody's took the first step toward stripping Germany of its coveted AAA credit rating yesterday by cutting the outlook for Europe's largest and most pivotal economy to 'negative.' The FTSE came under pressure as the ratings agency lowered Germany's credit outlook from 'stable' to 'negative' in a stark warning that no one is immune to the eurozone problems.
A similar move was announced for fellow AAA ranked economies, the Netherlands and Luxembourg. Downgraded: German Chancellor Angela Merkel. 'Germany itself is in a solid economic and financial situation,' it insisted in a statement. Europe to remain in limbo for two more months as Germany wrestles over legality of supporting £400billion bailout. Concerns it would jeopardise power of parliamentMinisters fear delaying decision will make crisis worseCountries including Portugal and Greece still struggling By Allan Hall Published: 16:15 GMT, 16 July 2012 | Updated: 06:34 GMT, 17 July 2012 Finance minister Wolfgang Schauble warned the court that waiting too long could cause further turmoil in the financial markets Europe and the world must remain in limbo for two more months until a crucial ruling on the legality of the euro bailout funds is handed down by Germany's supreme court.
On September 13, the court will decide whether to issue a temporary injunction against laws on the permanent euro rescue fund and fiscal pact or give it the green light. The delay means another two months of roller-coaster rides on global financial markets as the credit situations of Portugal, Spain and Italy worsen and Greece plunges further into bankruptcy. The ESM was due to have gone into operation on July 1 but cannot start until Germany has ratified it. Economic Historian: 'Germany Was Biggest Debt Transgressor of 20th Century' SPIEGEL ONLINE: Mr.
Ritschl, Germany is coming across like a know-it-all in the debate over aid for Greece. Berlin is intransigent and is demanding obedience from Athens. Is this attitude justified? Ritschl: No, there is no basis for it. SPIEGEL ONLINE: Most Germans would likely disagree. Ritschl: That may be, but during the 20th century, Germany was responsible for what were the biggest national bankruptcies in recent history. SPIEGEL ONLINE: What happened back then exactly? Ritschl: From 1924 to 1929, the Weimar Republic lived on credit and even borrowed the money it needed for its World War I reparations payments from America. SPIEGEL ONLINE: The situation after World War II was similar. Ritschl: But right afterwards, America immediately took steps to ensure there wouldn't be a repeat of high reparations demands made on Germany. SPIEGEL ONLINE: In the current crisis, Greece was initially pledged €110 billion from the euro-zone and the International Monetary Fund.