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2012-05-14

Der Spiegel: It's time to admit that the EU/IMF rescue plan has failed. Greece's best hopes now lie in a return to the drachma.

After Greek voters rejected austerity in last week's election Europe has been searching for a Plan B

It's time to admit that the EU/IMF rescue plan has failed.

Greece's best hopes now lie in a return to the drachma.



At the Chancellery in Berlin, the television images from Athens now remind Merkel's advisers of conditions in the ill-fated Weimar Republic of 1919-1933. 

And, as in the 1920s in Germany, the situation in Greece today benefits fringe parties on both the left and the right.

The country's political system is unraveling, and some advisers even fear that the tense situation could lead to a military coup.



Der Spiegel, Staff, 14 maj 2012

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