Protestors in Cyprus holding an anti-German banner
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Kohl adviser: 'Day of reckoning' for Cyprus

The rescue of Cyprus's banking system has got "Made in Germany" stamped on it. Cyprus is not just bracing itself for the reopening of its banks tomorrow - but for a grim economic future.

Germany on the other hand seems to be outgrowing Europe: exports to China exceed those to France. Professor Michael Stuermer was an adviser to Helmut Kohl when the euro was born - and told the Today programme's business presenter Simon Jack Cyprus brought this disaster on themselves.

First broadcast on BBC Radio 4's Today programme on Wednesday 27 March 2013.

  • 27 Mar 2013