Bloomberg News

Germany Can’t Pay for ‘Failed Speculation,’ CSU Lawmaker Says

June 23, 2012

Sharing debt between countries using the euro isn’t a solution to the region’s crisis, said a senior lawmaker in a party allied with Chancellor Angela Merkel.

It’s not acceptable for “German savers, German companies and the German state to pay for failed speculation” in Spain and elsewhere, Hans Michelbach, the Christian Social Union’s ranking member in parliament’s finance committee, said at a meeting in Munich for medium-sized companies. His comments were circulated by e-mail.

Stuctural changes are the way through the euro crisis, Michelbach said.

The CSU, a party in the southern state of Bavaria, is allied to Merkel’s Christian Democratic Union.

To contact the reporter on this story: Naomi Kresge in Berlin at

To contact the editor responsible for this story: Phil Serafino at

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