We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Wolfgang Schäuble is gone, but his austerity stays

15 0 8

Remember that strict old teacher you had as a kid in school? The one who was always quick to catch your lazy mistakes? What a relief it was when you moved on to the next grade, or he or she finally retired. Looking back, though, you think of that teacher more fondly, valuing all you learned and the life lessons imparted through iron discipline.

Wolfgang Schäuble is that kind of teacher.

Austerity with a goal

For eight years, Germany's outgoing finance minister has instilled financial discipline, debt reduction and compliance in the European Union. He has "annoyed" his colleagues, as he himself admits. However, even Greek leaders now say that Schäuble did the right thing, albeit with some degree of pressure and obstinence. The EU members most in crisis were kept afloat with unprecedented bailouts.........

© Deutsche Welle