'Euro-father' Kohl defends Greek bail-out

[pampango]

http://euobserver.com/9/30021

"Germany's former chancellor and re-unification figurehead, Helmut Kohl, has defended the euro as a "guarantee for peace" and said he has "no understanding"for those against the Greek bailout, a reference to his former protegee Angela Merkel and her reluctance to come to Athens' aid. Nicknamed the ‘father of the euro' for his pro-European policies at the end of the Cold War, Helmut Kohl said the common currency is a "guarantee for peace" on a continent that witnessed so many wars in the past.

"I have no understanding for the current debate about Greece. For people who act as if Greece has nothing to do with them," he told some 800 guests, including Chancellor Merkel, who had come to celebrate his 80th birthday in his home town Ludwigshafen. "Of course it is difficult," he went on, struggling to make himself understood after having a suffered a life-threatening skull fracture two years ago, "but one has to do everything."

Only a few hours earlier, she had come to the defence of the Greek bail-out, in a keynote speech held in the German Parliament, brushing off criticism that her reluctance had only worsened the woes of the eurozone. "A good European is not necessarily one who helps quickly. A good European is one who respects the European treaties and helps in a way that doesn't damage the stability of the euro," she argued, alluding to Berlin's insistence on Greek austerity measures before tabling its 22 billion share of the 110 billion loan. The austerity measures, to be voted on in Greek parliament today, have caused brought citizens out into the streets of Athens to protest.

A summit of eurozone leaders on Friday evening is expected to give the political go ahead to the bailout package as well as discuss lessons learned from the crisis, the drawn out response to which has prompted fears of contagion to other countries such as Portugal and Spain.