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Although I agree with you, the situations are a bit different. In the case of post WWII it was widely recognised that Germany's debt and war reparations were a
by junto 11y ago
Although I agree with you, the situations are a bit different. In the case of post WWII it was widely recognised that Germany's debt and war reparations were a major cause of WWII and helped with the rise of the National Socialist Party in Germany.
Greece doesn't have a modern history of military aggression. Germany did. What the Allies put in place was in their own interests.
The Allies didn't want to make that mistake twice (one could argue 3rd time). Hence they made sure that Germany [a] had a political system that was extremely balanced and stable (ironically much more than their own).
And [b] (most importantly of all), they made sure that they Germans had hope. Hope to be able to dig themselves out of what must have appeared to be almost a impossible mess at the beginning. Hope is like a virus. It starts small and becomes a self fulfilling cycle upwards (the reverse is also true).
That is what the Greece requires now. It needs to restructure its debt in order to take advantage of the quantitative easing policy of the ECB and low interest rates.
It also needs time to put its house in this order and it needs stability (politically and economically) to build itself back up.
The EU powers that be hates referendums. The people always vote that opposite to what they want. Welcome to democracy.
- justincormack 11y agoGreece did though have a military coup in the 1960s[1] [1] https://en.wikipedia.org/wiki/Greek_military_junta_of_1967%E2%80%9374 https://en.wikipedia.org/wiki/Greek_military_junta_of_1967%E...
- junto 11y agoThey did, but domination of Europe and beyond wasn't really really in their scope.
- xyzzy123 11y agoWait, are you saying that if Greece had a national socialist party, then it would be rational to extend debt relief?