Global Economy

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[url="http://www.dailymail.co.uk/news/worldnews/article-1277393/Greece-debt-crisis-German-anger-750bn-euro-bailout-swells.html"]'We are once again the schmucks of Europe!' German media's verdict as anger at Greek bailout swells[/url]

There are rumours that the right-wingers in her conservative CDU party are plotting a coup against her - rumours strengthened by the visceral distaste for her latest largesse in trying to prop up the common currency.



'The biggest 'all-in' in the history of poker,' was how Henrik Enderlein, economics professor at the Hertie School of Governance in Berlin, described the massive aid package assembled on Sunday night in an effort to save the Euro from collapse.



Many observers see the measure as delaying the end of the Euro, not preventing it.

Kai Carstensen, an expert at the Munich-based Ifo Institute for Economic Research, said: 'I fear that states will no longer feel any pressure to lower their deficits.



'Should they not massively reduce their debts, the problems will only be bigger three years down the road because the stronger countries are currently guaranteeing the debts of the weaker ones.'

Europe's heavyweights could be taking on more than they can handle, he said.