France, Germany Accused of Using Crisis to Own Advantage

Allegations have recently been leveled against France and Germany, accusing the two countries of attempting to use Greece’s credit crisis to their own advantage. The accusations suggest that France and Germany have both hinted that their level of support for Greece, is directly related to the success of separate arms contracts currently in negotiations.

France has been accused of pressuring Greece to buy war ships and fighter jets, while Germany wants Greece to purchase its Leopard II tanks. According to am unnamed diplomat, it was made very clear to Greek officials that the EU’s two largest economies would be more “supportive” of a bail-out for Greece, if the sales contracts were signed ahead of the upcoming EU summit where it is expected details for a rescue plan will be finalized.

Source: Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.