The foreign taxpayer is paying loans to the greek taxpayer, who is paying taxes to the greek government, who is repaying debt of private greek companies(mostly

The foreign taxpayer is paying loans to the greek taxpayer, who is paying taxes to the greek government, who is repaying debt of private greek companies(mostly banks), who are repaiing debt to foreign private companies(mostly banks), who ignored or sidetracked the Basel treaty that clearly stated who can get loans or not. Deutsche Bank was one of the most hard hit from bad loans.[1] The german media is misrepresenting their request for debt cancellation of private losses, by saying that german taxpayers would have to pay them instead, which ofcourse nobody said that but certain german politicians. (and I would not use spiegel as a credible source). [1] http://www.forbes.com/sites/kylesmith/2011/09/28/book-review-boomerang-by-michael-lewis/#135Germa21f+-2552e3b6 http://www.forbes.com/sites/kylesmith/2011/09/28/book-review... "When Goldman Sachs helped the New York hedge fund manager John Paulson design a bond to bet against — a bond that Paulson hoped would fail — the buyer on the other side was a German bank. Iceland, Ireland, Greece — all of their profligacy came from Germany."