So will Germany attack and reposses?
The package, to be unveiled this weekend, will include:
- the second rise in VAT this year, to 23 per cent - public sector salaries cut by up to 20 per cent
- all public sector contract workers to lose their jobs
- a severe cut in pensions
- retirement age raised to 67 (average Greek retirement age is 53)
But if the country goes bust, the financial crisis could spread quickly
Highly unlikely. They aren't their father's Germany.