Meet ordoliberalism. Neoliberalism is amoral, but ordoliberalism is stringently moral. It's perhaps no coincidence that the German
Schuld means both debt and guilt, and therefore sin.
"Ordoliberalism" also indicates the German fixation on order and orderliness (rectitude). Were Americans would say, Everything is OK, Germans say,
Alles ist in Ordnung. This means it is going to be very difficult to get a workable deal with respect to Greek unsustainable debt that German politicians can stomach themselves and also sell to their constituency, since the only way to deal with debt that is not payable is to write at least some of it down. This is an underlying reason for the seemingly unreasonable demand for a level of austerity that makes debt repayment unsustainable for the Greek economy. Vox
"For Germans, economics is still part of moral philosophy": why Germany won't help Greece Dylan Matthews