Greece Needs a Stresemann

In 1923 Germany was experiencing hyperinflation and its economy was in tatters. Then along came Gustav Stresemann who turned Germany around, brought down its debt and saved the country from complete collapse. Six years later he died, just weeks before the Wall Street Crash, if he had lived Hitler may never have risen to power and WWII wouldn’t, therefore, have happened.

This is exactly who Greece needs right now, the country is collapsing, the politicians are inept, the Eurozone leaders don’t know what to do and everyone is panicking. The riots yesterday show that Greeks aren’t prepared to take more austerity and any attempt to get another package through parliament could spell revolution. The middle class, working class and business class are united in their opposition to the government’s austerity plans. Of 300 MPs, 101 voted against the measures or did not attend parliament, Greece simply cannot take more austerity. If new elections were to produce a Stresemann then the panic could end, but the chance of that is small. Instead of a Stresemann, all Greece needs is a strong leader who will stand up to Merkel and Sarkozy and say no to more austerity. Germany needs to realise that in order to keep the Euro alive they must finance the Greek recovery. Otherwise the inevitable default would change Greece into a wrecking ball destroying Italy, Spain, Portugal and Ireland, sending the world into recession and the Euro into history.

Germany needs to look to America, the USA has one of the largest deficits of any western nations, yet it is managing to grow. This is largely due to Obama’s stimulus package. Look to Ireland, so far Ireland has taken austerity well (in that there have been no major protests or riots) and yet its economy is still faltering and it could head back into recession if something isn’t done. Germany needs to end its experiment with austerity and change course to prosperity through a stimulus package. Four years of austerity has only produced perpetual recession in Greece, little economic growth in Europe and a decline in European influence. For the sake of this continent Merkel needs to wake up and stop the austerity.  

The man who saved Germany in 1923, Gustav Stresemann. Unless Greece or Europe finds a similarly able politician collapse is almost inevitable