With the euro on the brink, all eyes are on Germany. the ex-president of the European Commission and former Italian prime minister Romano Prodi told SPIEGEL in an interview that Germany, as the most powerful country on the Continent, must finally step up and show the courage to resolve the debt crisis.
Prodi said that the European Central Bank needs to play a proper role in the crisis and
euro bonds also need to be issued, while he showed his support for euro bonds.
He said that the dollar, which he characterized as a big dog, is in a more difficult situation than the euro and noted that the debt of California is much worse off than the Greek one, but he said for some reason the US dollar is defended.
The former president of the European Commission said that Germany has to take a decision for Europe, or the game is over, however he did underline that there aren’t that many in Germany who are willing to give up Europe.
Asked by Spiegel why he was so optimistic that the crisis can be overcome Prod said that rationality will assert itself and noted that Germany cannot give up its fantastic economic situation in the world.
Read more: Spiegel