Re:The EU Is on the Verge of Collapse–An Interview with Geor...
by derriz on Saturday January 23, 2016 @08:36AM
(#10958339)
How does this make sense? Greece accounts for less than 1% of German exports. Germany gave Greece 80B to protect 4B worth of exports?
Re:The EU Is on the Verge of Collapse–An Interview with Geor...
by Someone on Saturday January 23, 2016 @09:05AM
(#10958421)
I don't argue it makes sense, but Germany also got a few years of interest on those loans. Could they have gotten the same interest elsewhere for significantly less risk? I doubt it.
There also are claims Germany made lots of money on the crisis itself because it made it cheaper for them to borrow money (http://www.keeptalkinggreece.com/2015/08/10/study-germany-ma...)
Re:The EU Is on the Verge of Collapse–An Interview with Geor...
by forgetsusername on Saturday January 23, 2016 @08:46AM
(#10958365)
>Greece was loan-sharked by Germany and other "investors" for the explicit purpose of pumping up German exports
I hear the same argument with the housing crisis; that people were somehow "suckered" into borrowing money. I don't understand how other people can be blamed for borrowing, spending, then failing to repay.
Re:The EU Is on the Verge of Collapse–An Interview with Geor...
by jessaustin on Saturday January 23, 2016 @10:50AM
(#10958703)
Keep on living, dude. If you only gain the sort of experience that gives one such understanding late in your life, you won't be the first for whom that is the case.
Re:The EU Is on the Verge of Collapse–An Interview with Geor...
by bobcostas55 on Saturday January 23, 2016 @08:25AM
(#10958299)
Greece got loans at lower interest rates than Germany was paying at the time. That's not what "loan sharking" is.
This is not quite the same thing as taking a lot of other people's money.
A lot of the money never reached the ground, so most of the Greek people got very little benefit from it. Rather a lot of it went on defence boondoggles. See e.g.
http://www.theguardian.com/world/2012/apr/19/greece-military...