FRANKFURT -(Dow Jones)- A trade group representing Germany's family-owned businesses has criticized the German government's role in supporting euro zone bailouts, and has called for new rules to allow the exclusion or withdrawal of certain euro zone members from the currency union, German newspaper Die Welt reported Monday.
"The German government has pursued a fatalistic path with its euro bailout politics," the trade group Stiftung Familienunternehmen wrote in a document delivered to the German parliament, according to Die Welt. "Withdrawal and exclusion must be permitted" under euro zone laws, the newspaper cited the document as saying.
The group argues that the "no bailout clause" included in the Lisbon Treaty is broken by aid measures for Greece and says the currency union has become a "transfer union," in which Germany carries the largest burden.
The document provided to the German parliament was signed by around 100 German companies, representing EUR38 billion in annual revenue and 200,000 employees, according to the Die Welt report.
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