Thilo Sarrazin is causing controversy again in Germany, this time with a new book about the euro. As a former banker he knows his topic thoroughly, and is shaking up the establishment with his contrarian viewpoint.
Many thanks to JLH for translating this article from Junge Freiheit:
Sarrazin: There is a Nexus of Euro and Holocaust
Thilo Sarrazin has defended his theory of a connection between German save-the-Euro policy and German guilt for WWII. An obligation to Europe was derived from German guilt, said Sarrazin in an interview with Zeit. “There is a nexus of Euro and Holocaust.”
As an example of this, Sarrazin quoted the Italian writer Eugenio Scalfari who wrote some weeks ago in Zeit: “If Germany should pursue a financial policy that allows the Euro to crash, then the Germans would be responsible for the collapse of Europe. After two World Wars and the Holocaust, that would be the fourth sin. Germany must now assume its responsibility for Europe.”
Former chancellor Helmut Schmidt made a similar argument at the SPD party convention last September, says Sarrazin. He said quite clearly: “It cannot be that — only 70 years after the last World War, and according to this reasoning — we are expected to pay for the debts of other countries; and that is exactly what the Eurobond, for instance, amounts to.”
“Germany cannot solve the Greeks’ internal problems”.
Under the rubric of European solidarity, it must not be understood that developed, sovereign states would take over the debts of other sovereign states to compensate for their poor decisions, warned the former head of the federal bank. Germany cannot solve the problems of the Greeks, the Spaniards or the Italians.
On Tuesday, in Berlin, Sarrazin presented his new book, Europe Does Not Need The Euro. In it he had made sure that there would be outrage, with his comment that policy on the issue of salvaging the Euro was being driven by “that very German reflex, according to which the penance for the Holocaust and the World War will not be done until all our property, even our money, is in European hands.”