In 1953, 60% of the German debt was cancelled through negociation, allowing the ensuing economic boom. Please notice that loans come with an interest rate, whi

In 1953, 60% of the German debt was cancelled through negociation, allowing the ensuing economic boom. Please notice that loans come with an interest rate, which varies accordingly to the supposed risk they present. That means that any creditor lends money explicitly accepting the potential risk of not being repaid, compensated by compound interest. There are many precedents. In fact most countries did failed their debt at some point, the real matter here is politics: the Greek case has been managed in the most insane way, and the Troika simply want to put the fault on someone else. However Tsipras and al weren't governing back when Greece was (against all odds and reasons) accepted in the Eurozone; they weren't when the Troika decided to bail out the French and German banks instead of refinancing the Greek economy; so they're actually quite entitled to their refusal of bearing others' misdeeds.