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I also do not fully understand, why this is so. But before the Euro started our politicians drummed the big drums for it and repeated like machine guns, that su
by PythonicAlpha 11y ago
I also do not fully understand, why this is so. But before the Euro started our politicians drummed the big drums for it and repeated like machine guns, that such a situation could never, never ever (I swear!) happen ... But after Greece nearly went bankrupt in 2010, I guess, our chancellor said that this would be the "one and only alternative".
The problem is (as much I understood), that when one Euro country is going bankrupt, this will damage the confidence in the currency as such. But I don't fully understand the reasoning, as I said.
It also could be, that it was the "one and only alternative", because some big German banks would have been severely damaged back then (back then, they held a big amount of the Greek debts) ... Today, only the tax payers will be damaged, what is not so bad ...