German Vice Chancellor Says "European Break Up No Longer Unthinkable"

Tyler Durden's picture

There was a time when even the merest hint of a breakup of the Eurozone was considered a taboo topic in Europe. Who can forget Mario Draghi's response to a question from Zero Hedge readers who wondered if there is a "plan in place if a nation is forced to step out of the Eurozone"  to which Draghi's response was that "if the Euro breaks down, and if a country leaves the Euro, it's not like a sliding door. It's a very important thing. It's a project in the European Union. That's why you have a very hard time asking people like me "what would happened if." No Plan B."

In short: to demonstrate just how "cohesive" Europe was, even the mere possibility of a break-up was unthinkable, i.e., "no plan B".

Fast forward three years later, when things in Europe have changed dramatically, and unfortunately for the worse as many warned, because as Reuters reports citing Germany's second in command, Vice Chancellor Sigmar Gabriel, "a break up of the Eurozone is no longer unthinkable."


German Economy Minister Sigmar Gabriel.

In an interview with Der Spiegel, Gabriel said that "Germany's insistence on austerity in the euro zone has left Europe more divided than ever and a break-up of the European Union is no longer inconceivable." Gabriel, whose Social Democrats (SPD) are junior partner to Chancellor Angela Merkel's conservatives in her ruling grand coalition, said strenuous efforts by countries like France and Italy to reduce their fiscal deficits came with political risks.

In an attempt to once again politicize the touchy, for German, topic of excessive spending and debt-issuance, Gabriel said that "I once asked the chancellor, what would be more costly for Germany: for France to be allowed to have half a percentage point more deficit, or for Marine Le Pen to become president?" he said, referring to the leader of the far-right National Front.

"Until today, she still owes me an answer," added Gabriel, whose SPD favors a greater focus on investment while Merkel's conservatives put more emphasis on fiscal discipline as a foundation for economic prosperity.

The ideological divergence will lead to a political showdown in nine months: the SPD is expected to choose Gabriel, their long-standing chairman who is also economy minister, to run against Merkel for chancellor in September's federal election, according to Reuters.

On the other hand, he himself admits that running on a platform of excessive spending may not be the smartest thing in Germany  asked if he really believed he could win more votes by transferring more German money to other EU countries, Gabriel replied: "I know that this discussion is extremely unpopular."

"But I also know about the state of the EU. It is no longer unthinkable that it breaks apart," he said in the interview, published on Saturday. "Should that happen, our children and grandchildren would curse us," he added. "Because Germany is the biggest beneficiary of the European community - economically and politically."

His last comment is spot on, which then begs the question: why do other, non-German countries, and especially Greece which has gone through 7 years of depression hell just to stay in the Euro, demand so vociferously to remain in a "community" in which the biggest beneficiary is Germany, as its vice chancellor himself now admits.

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samjam7's picture

It never was unthinkable. They just didn't dare to say it out loud.

DownWithYogaPants's picture

The sooner the better for the poor besieged natives.

Nemontel's picture

Don't worry, Germany will be an example for other nations what not to do soon enough.

http://www.truthjustice.net/politics/what-diverse-countries-really-look-...

two hoots's picture

"IF" the Trump tweet on Russia holds then the EU (removed sanctions)  has a better chance to increase trade to the East which might hold it together? 

Manthong's picture

Can we get the video of Soros’  head exploding on YouTube?

rmopf2010's picture

You are totaly wrong, these socialists kind of guys are Soros minions: Sigmar Gabriel, martin schulz, Merkel

Not Schauble !

I'm from Portugal and take this simple example:

1) Despite social security taxes paid by public workers there is a shortfall for entitlements public retirees EVERY year of 5,000,000,0000€ that comes the budget/deficit/debt for only 500,000 pensioners

2) Despite social security taxes paid by private workers there is a shortfall for entitlements private retirees EVERY year of 2,000,000,0000€ that comes the budget/deficit/debt for 3million pensioners

See the diference ?

Do you know what this means ? that socialists governments promised an welfare state as good as from Germany but in a poor country like Portugal

Who gets nailed ? you guessed the young people who have to pay these socialist utopias

Schauble is the MAN for Europe !!!!!!!!!! vote for him

Socialist People one day or another will have to face the consequences of voting in the Golden Pot at the End of the Rainbow

 

 

wildbad's picture

the article asks at the end:

"vociferously to remain in a "community" in which the biggest beneficiary is Germany, as its vice chancellor himself now admits."

two main reasons:
1) because the corrupt politicians of those lands have illegally ceded power to unelected burocrats in brussels

2) because the REAL beneficiaries are the banks and they have caused those other member countries to become dependent debt slaves to said banksters.

end the EU, devolve the €U legal structure. make the €urozone a tarif free zone and use collective bargaining instead of forced compliance from above. each sovereign nation to be responsible for its own security and own currency and own social systems. if it doesn't work, border controls again.

kill the €U monster

rmopf2010's picture

Sorry pal it takes two to party!

Real beneficiaries are banks of course but you forget the counter part people living by welfare state + big government jobs

 how do you think the socialist establishment get their votes from ? yeah that huge voting block of people living by the state


 

Dugald's picture

 

Too Bloody Late.....It already is.....!!

BarkingCat's picture

Your link has a download for a virus in it.

Don't be a fucking asshole

MaxDemon's picture

That was a very nice and diplomatic way of saying "you fools better think about it because it really might happen".

Urban Redneck's picture

He must be more desparate than Chris Christie at the back end of buffet line to say that out loud..

Obadiah's picture

Gabriel.  Has a certain ring to it.... no? 

HokumYTrader's picture

It's a project in the European Union. That's why you have a very hard time asking people like me "what would happened if." No Plan B."

I think they are gonna need a bigger door

Vageling's picture

I see what Draghi did there. You see he needs no plan B. The door  slamming him on the way out is his only concern. No EU is no ECB hence it falls on the shareholders of the ECB meaning the national central banks. This piece of shit knows nations did investigate the plan B. They're not completely stoopid.

adonisdemilo's picture

The EU in danger of breaking up !

Disintegrating sounds better.

BRING IT ON.

MPJones's picture

I can't happen fast enough. There is no chance of European recovery in the currenct circumstances.

Vageling's picture

Yeah and pigs can fly. Think for a second. Will you sit by and see your big fat taxfree paycheck evaporate? The EU is a job carousel for these arrogant bastards of which the majority never had a real job in their worthless lives.

So sir. What are your skills?

I can suck my own dick! Make myself look really important. Did it daily in Brussels! 

Yeah... Can you see him getting hired? Also... Imagine the shock when it means the EC muppets won't all get their own movie like that arrogant fuck Timmermans. Apparently sucking off Juncker while both are drunk is very interesting.

Jubal Early's picture

"Should that happen, our children and grandchildren would curse us"

And if the EU doesn't break up your grandchildren will be mongrel moslems who will defile your grave.

LA_Goldbug's picture

I'll add , Just not Grandchildren of his ruling class.

Kayman's picture

Islam has the same tenet as the Catholic Church- win by outbreeding everyone else.  So what grandchildren is this guy talking about? Mohameds ?????

LA_Goldbug's picture

 "because Germany is the biggest beneficiary of the European community"

 

There is the Problem. Suicide policies of Merkel are God sent and the Gulag MUST listen, being just one example of this problem called EU.

----_-'s picture

wise people of the past arrested scum like (((gabriel))) (((schulz))) (((sarkozy))) and (((others))) and put them into holiday camps to improve their concentration. i personally would suggest to shoot them on spot...

sadly they listened to their woman and freed the (((scum))). there you go...  dont listen to woman.

 

Dragon HAwk's picture

the biggest beneficiary is Germany, ( Nuff Said )

MaxDemon's picture

They were, but now the bill is coming due, and the average German will not want to pay it. 

But the Greeks, Italians and others have been paying all along, so they will not want to pay extra either.  This will get very ugly.

floomby's picture

I was under the impression that the Greeks and Italians were actually big winners, at least initially since so much capital flowed south due to weak markets for capital goods in the south. Seems like a failing EU will suckered a lot of that back north and utterly destroy the southern states.(For exampe the property market in Greece is already in the gutter.)

the not so mighty maximiza's picture

time for a diet you fat fuck

UnschooledAustrianEconomist's picture

The Unschooled Austrian Economist's boot camp for obese children would be the perfect thing.

Skilled instructors and proven procedures give hope to even the lost cases.

Milton Keynes's picture

There are basically two things to the EU.

 

1) European Common Market...

2) Euro Currency...

 

The Schengen pact has been handy, let's you take the train without a lot of effort, that sort of thing...

 

The Euro has been a disaster...

 

The EEC allowed Germany to sell cheap cars and product across europe... But, the solution is floating

currencies and keeping German banks out of the rest of europe.

European American's picture

Your children cursed you when you opened up the borders and let the "Invasive Species" in to rape them...and you DID NOTHING!

Dugald's picture

 

Ah! but there is always Zyklon B.....

         Patience Grasshopper..

45North1's picture

denial, anger, bargaining, depression and acceptance

 

kellys_eye's picture

"Unthinkable"?

"Under way" would be the right expression.....

hotrod's picture

Finally we are getting some HONESTY in the world.  Yes Germany you are the beneficiary.

DemandSider's picture

So, German banks loaned the poorer, NON - middle class manufacturing export Southern European led economies money to buy expensive German cars and military equipment. What could POSSIBLY go wrong??

moorewasthebestbond's picture

Fire up the Leopards, for tomorrow we die!

chosen's picture

The European Union is already dead.  It just needs to get buried, the sooner the better.

Vageling's picture

Can somebody inform the doctor the patient has deceased? We'd like to move on and bury him now. Little hard when the doctor keeps waisting everybodies time.

Arnold's picture

The UN can take over the lease in Brussels.

Sorry, I saw the chance to pig pile and took it.

malek's picture

A German politician using the common concept of floating trial ballons, to see what sticks with the voters, plus trying to distance themselves from their coalition partner (which is Angela Merkel).

Don't believe anything Gabriel is saying does somehow constitute his real opinion (if he even has one).

Cracker Pipes's picture

To gain in money and power for politicians but destroy the culture and the German identity in history. Betray your people for filthy lucre...

UnschooledAustrianEconomist's picture

Germany is the black hole of the EU, sucking all the wealth and all the blood (their youth) from poorer EU countries.

And Sigmar Gabriel is a fat, traiterous and worthless POS.

BTW: By coincidence I was just listening to this when starting to read.

https://www.youtube.com/watch?v=JSUIQgEVDM4

chosen's picture

He hasn't missed too many meals.  Looks like he can really suck down those knockwursts.