Reuters writes: It was approaching midnight at a yacht club on the French Riviera, down the road from a G20 summit. German Chancellor Angela Merkel was telling reporters about her decision to block a loan to Greece, when suddenly her finance minister interrupted to set the record straight. Wolfgang Schaeuble told the journalists that it had been his idea to stop the flow of aid to Athens. That move had helped convince Athens to drop its controversial plans for a referendum on new austerity steps, calming financial markets. Schaeuble had personally delivered the news in a phone call to his Greek counterpart Evangelos Venizelos, in hospital at the time with stomach pains.
"Yes, indeed it was the finance minister who stopped the payment," a somewhat startled Merkel acknowledged. "He was the one who reacted first." The unusual exchange in early November gives a glimpse into the complex relationship between Merkel and Schaeuble. Once his deputy, Merkel is now Schaeuble's boss. Their bond has survived two decades of slights and reversals -- and it is now central to the euro-zone debt crisis.
An examination of the relationship between the German leader and her outspoken minister -- whose contrasting views on Europe mirror tensions in the broader electorate -- suggests their give-and-take may be just as crucial to the continent's future. "The chancellor can count on my loyalty," Schaeuble said in an interview with Reuters. "But that doesn't mean I'm going to keep quiet, that I'm going to be easy. I have the freedom to do what I think is right."
Schaeuble, a 69-year old political veteran, has been confined to a wheelchair since being shot by a deranged man a week after German reunification. Long committed to the cause of European unity, he has heavily influenced Berlin's response to the crisis. Some European insiders say he is perhaps the only politician capable of pushing Merkel, a risk-averse politician from ex-communist East Germany, to adopt the policies which may be needed to save the currency block…..
Read more at http://www.reuters.com/article/2011/12/14/us-europe-merkel-schaeuble-idUSTRE7BD0IU20111214
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