Greece joining euro was a mistake: Merkel
Here we go : now everybody else will be to blame. As long as there are separate countries, with separate governments, with separate elections, with seperate budgets, withs separate tax incomes in EU it will be just an artificial Frankenstein that is going to count days of survival
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Greece should never have been allowed to join the euro, German Chancellor Angela Merkel said, as she tries to lay the blame for the eurozone's debt crisis at the door of her political opponents.
Campaigning for re-election next month, Germany's center-right leader said her Social Democrat predecessor, Gerhard Schroeder, had been wrong to support Greece's membership and agree to relax strict budget rules designed to underpin the currency.
"This crisis has been formed over many years through mistakes that were made when the euro was created," she said at a campaign rally Tuesday.
"For example, one should not have accepted Greece into the eurozone ... Chancellor Schroeder accepted Greece and weakened the stability pact," said Merkel. "Both were fundamentally wrong and are the reasons for our problems today."
After Greece adopted the euro in 2001, public spending and government borrowing soared, leaving the country unable to pay its way when the global financial crisis hit. Since 2009, Greece has been kept on life support by two bailouts from the European Union, European Central Bank and International Monetary Fund worth a total of €240 billion ($320 billion).
But the emergency loans came with conditions, including savage austerity measures that contributed to a sharp contraction in Greece's economy during six years of recession and unemployment soaring to record levels of nearly 28%.
As Europe's biggest economy, Germany has made the largest contribution to the bailout funds but Merkel has been attacked in Greece and elsewhere for prescribing
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