
He criticizes Germany’s undercapitalized banks and poor political leadership — including that of his own Social Democratic party.
Europe, with its mounting debt, he says, is on the brink. “Greece was just a foretaste of what could happen to the Euro idea,” he warns.
Inevitably, Steinbrueck takes on the finance industry. “We have taken a few steps toward taming the financial markets,” he told a Der Spiegel interviewer after his book came out, “but we have not come nearly far enough to rule out a repetition of the crisis. The most important question hasn’t been answered yet: Who’s in charge, politicians or the financial industry?”
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