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So Greece should be allowed to run up huge debts and then not pay them back?
by andy_ppp 8y ago
So Greece should be allowed to run up huge debts and then not pay them back?
- keithpeter 8y agoSo banks in Germany should be allowed to lend huge amounts of money to countries with the same currency but much higher bank rate without regard to loss? 'Moral Hazard' is something I have reservations about.
- andy_ppp 8y agoI mean I see your point but it works both ways, should German pensioners pay for the mistakes of bankers and successive Greek governments... really I’m a bit playing devils advocate I don’t think the Greek people should be paying either.
- keithpeter 8y agoHalf a currency (Eurozone has common currency value but national banks can still set bank rates) is the problem I think. UK stayed out of Euro because of the Black Wednesday experience during the ERM I suspect.