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As a German I find your complete misrepresentation of reality insulting. The German political class is the reason why Greece still has the Euro. The Eastern Eu
by copx 11y ago
As a German I find your complete misrepresentation of reality insulting. The German political class is the reason why Greece still has the Euro.
The Eastern Europeans never wanted to bail-out the Greeks to begin with, and have zero sympathy for their cries about inhumane austerity because the "austere" Greeks are still better off than the Eastern Europeans. Thus any transfer of money from e.g. Lithuania to Greece is perceived as a crying injustice.
But even in Western Europe Germany is close to being Greece's best friend. The first bail-out was almost sabotaged by the Finns when they demanded collateral for their money. Which caused the Dutch to ask for that too. Meanwhile Evil Evil Schäuble knew that the Greeks would never be able to pay back that money - and lied to the German people about that "your money is safe, we will get everything back", he said.. shortly before agreeing to the first haircut. Billions of Euros of German tax payer money evaporated.
Without the German government Finnish and Dutch ships would have transported away the Greek statues, gold, and whatever other valuable thing they could find. And if "European solidarity" depended on the Eastern Europeans the Greeks would have never gotten a cent.
The Greeks who are so fond of the Euro should be endlessly thankful to the German political class (not the people - they never supported this bail-out).
I think this is also the primary reason why Schäuble does not want another haircut. His original lie would become even more severe and the German electorate would become even angrier.
- agopaul 11y agoSee, I'm Italian and the thing that is insulting is how Schäuble and Merkel sometimes make decisions in this situation without even consulting the rest of the creditors (France, Italy and others). I get that your government has to work with internal politics, but, on the other hand, our government find increasingly difficult to justify this idea of a German-centric Europe to our public opinion (no matter if the German government is actually a mediator between the 'north' and the 'south' Europe or not), because that's how it's perceived here.
- youngtaff 11y agoBut Greece didn't need bailing out in the first place, they could have defaulted and let the banks carry the can (after all loans are a risk), but German banks would have gone bust and Merkel et al couldn't stomach that so they transferred the banks debt onto the EU public. German consistently runs a trade-surplus that's in excess of EU treaties but remains unwilling to raise demand at home, this creates a huge imbalance at the heart of the Euro.| When the Euro came into being it was obvious to many people (and stated widely) that the interest rates were set to suit Germany and were far to low for many of the other countries. Germany is at the heart of the problem of the Euro and they can't or won't see it