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article imagePoll shows Germans don't trust Merkel with their bank deposits

By Katerina Nikolas     Mar 26, 2013 in Business
A new poll shows that over half of Germans do not trust German Chancellor Angela Merkel's promises regarding the safety of their bank deposits.
To Vima reported the poll, conducted by the Forsa Institute for Stern Magazine and RTL television. It revealed 54 percent of Germans do not trust Merkel's recent assurances that their savings are safe. Only 41 percent believe their deposits are safe.
Stern reports that the image of "Teflon Merkel" has been tarnished in Germany over the handling of the Cypriot banking crisis, an opinion expanded by Der Spiegel. DS writes that Merkel chose to wield Germany's political power in the EU over the Cypriot crisis, rather than allowing Brussels to take the lead. This fuels further fury across some European countries leading to depictions of Merkel in Nazi dress sporting a Hitler moustache.
The popular German press has exploited false portrayals of Greeks as lazy, over-spending and corrupt.
Cypriots are now the latest target. The popular argument is that German taxpayers must be spared from the profligacy and corruption of their southern irresponsible neighbours. However as Der Spiegel notes: "Germans haven't just paid for the crisis, they've also profited from it. The savings in interest payments, which Germany have enjoyed since the beginning of the crisis, amounted to €10 billion last year alone. Plus there are the interest payments from debtor nations. The reality of the euro crisis is this: The poor of Athens are paying the rich in Germany."
More about Angela merkel, Forsa Institute poll, bank deposits, Cyprus
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