Euro Crisis: The Significance of the Euro Rescue Plan for Germany and Europe

Hans-Werner Sinn on the Significance of the Euro Rescue Plan for Germany and Europe.
As the Euro Rescue Act is formulated, it is an incalculable risk for Germany and is sure to slow its growth. It will lead to a further enlargement of the European debt bubble and will subsequently induce transfer payments to the debtor countries because this will be the only way to prevent the bubble from bursting. We are now embarked along the path to a transfer union.