3 ms·
What you write is nationalist bull on many levels. 1. German banks were exposed, yes, but they were not much more exposed than banks in other EU countries. Loo
by svara 7y ago
What you write is nationalist bull on many levels.
1. German banks were exposed, yes, but they were not much more exposed than banks in other EU countries. Look at the table in [0]; total absolute exposure of German banks is second after French banks. If you normalize this to the size of the respective economies, many other countries' banks were more exposed, including Belgium, The Netherlands, Cyprus.
2. The whole thing was an action of the EU and IMF, not of Germany specifically, and the table in [0] should sufficiently explain why, even if you take the most cynical possible view.
3. The whole concept of a "German bank" is a bit ridiculous in a globalized economy.
4. The idea that Germany can just go ahead and "use EU funds" is nonsensical. That's the EU's money, and Germany is a part of the EU.
[0] https://www.theguardian.com/news/datablog/2011/jun/17/greece-debt-crisis-bank-exposed https://www.theguardian.com/news/datablog/2011/jun/17/greece...