3 ms·
If Germany actually wanted Greece out, they would have been kicked out 3-5 years ago. Germany desperately wants Greece in, why do you think they keep negotiatin
by mseebach 11y ago
If Germany actually wanted Greece out, they would have been kicked out 3-5 years ago. Germany desperately wants Greece in, why do you think they keep negotiating?
> The terms of the deal for Greece have been pretty onerous, you lose control of your currency with no equivalent upside.
No upside? What do you call a decade of easy access to super cheap credit? Also, these terms are not unique to Greece, no other Euro-zone country has control over it's currency.
- gizmo 11y ago> What do you call a decade of easy access to super cheap credit? A poison pill. It's like giving free booze to an alcoholic. It's certainly not kindness.
- StavrosK 11y agoExactly what gizmo said. It's the super-cheap credit that got us here...
- mseebach 11y agoThat's easy enough to say in retrospect. The greek government actively and aggressively sought out membership, to the point of cooking the books, then eagerly availed themselves of the credit.