I have no idea what the equivalent of “Joe Six-Pack” is in Germany, but I can’t believe they are going to be happier tomorrow.
Most Germans were not happy about bailing out Greece and the other countries that got themselves into debt trouble. The poll numbers show strong support against it and Merkel has been losing seats in local election after local election.
All that said, I believe most German’s thought of Merkel and other EU leaders as competent. They didn’t like all their policies, but there was a belief in them being competent. This summit fiasco had to impact that faith. There is no way to look at the news of this week as a German citizen and not only be concerned that you money is being spent on those who couldn’t live within their means, but it is being spent by people who are clueless. That is a big distinction and I would expect the occupy wall street – Frankfurt version to pick up on this.
I look forward from hearing from German readers but I think the obvious confusion shown this week by the leaders is going to make them even more reluctant to depart with their money.