Economist Straubhaar on the ESM 'Germany Has to Accept More Redistribution'

Does the introduction of the ESM bailout fund mean Europe is turning into a transfer union? Economist Thomas Straubhaar argues that it is -- and that it's a good thing. In a SPIEGEL ONLINE interview, he says that Germany will have to get used to sharing its prosperity with other countries.
German Chancellor Konrad Adenauer (l) and senior Foreign Ministry official Walter Hallstein during the 1957 signing of the Treaty of Rome, which established the predecessor of the European Union.

German Chancellor Konrad Adenauer (l) and senior Foreign Ministry official Walter Hallstein during the 1957 signing of the Treaty of Rome, which established the predecessor of the European Union.

Foto: A1809 epa ansa/ dpa
Interview conducted by Stefan Kaiser