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West Germany did repay some of the defaulted WWI debt to help rebuild their reputation after they lost WWII. Also, there is another gigantic difference here, G
by TheCondor 11y ago
West Germany did repay some of the defaulted WWI debt to help rebuild their reputation after they lost WWII.
Also, there is another gigantic difference here, Germany lost a bloody war and we told them how it was going to be, we restructured their economy, wholesale, and they were in no position to disagree. About half the debt was forgiven because they did what we made them do. If Greece wants to put their sovereignty on the table and let their creditors structure their economy for them, that's a very different negotiation than what they've had. Further, the west wanted a strong Germany between them and the communists, what's Greece got to bring to that table?
All this hypocrisy talk misses the point. Greece should go elsewhere to finance their debts if they don't like dealing with Germany. With their history, lifestyle, economy and government, I think that will be a challenge. Nothing prevents BRICs from investing there, they just don't seem that interested. Nations aren't individuals but try to go negotiate with a pawn shop or payday lending place, it sucks to need money and not have options. Sure, Germany has defaulted in the past, Greece can crap on then when the tables are reversed...
- afarrell 11y ago> the west wanted a strong Germany between them and the communists, what's Greece got to bring to that table? Continued loyalty to NATO and the EU? http://www.reuters.com/article/2015/07/03/eurozone-greece-russia-idUSL8N0ZH3LP20150703 http://www.reuters.com/article/2015/07/03/eurozone-greece-ru...
- muro 11y agoAccording to e.g.: http://www.spiegel.de/international/germany/legacy-of-versailles-germany-closes-book-on-world-war-i-with-final-reparations-payment-a-720156.html http://www.spiegel.de/international/germany/legacy-of-versai... Germany did repay the WWI reparation debt.
- Ygg2 11y agoIn 2010! That's almost a century from 1918. If Germany had to repay reparations from 1945, it would probably be repaying WWI debt to this day.
- MrBuddyCasino 11y agoLets not forget that Germany also lost a third of its territory, so its not as if they got away that easily.
- vidarh 11y ago> If Greece wants to put their sovereignty on the table and let their creditors structure their economy for them, that's a very different negotiation than what they've had. Given that even the IMF have admitted that pretty much all their projections were flat out wrong for Greece, of course the Greek government would be total idiots if they did this. > All this hypocrisy talk misses the point. Greece should go elsewhere to finance their debts if they don't like dealing with Germany. This is missing the point: Sure, Greece can't demand whatever they like. But at the same time, it is irrational for Europe to treat Greece this way, because all it achieves is weakening the Greek economy further, which nobody benefits from. If the EZ governments wants to lose all the debt, that's a good approach. If they want some of it repaid and would like Greece to remain a viable part of the common market, it's not.