Re:Germany records first monthly trade deficit since 1991 as...
by jeroenhd on Tuesday July 05, 2022 @11:05AM
(#31989095)
The Greeks are in massive debt because of years of financial mismanagement and fraud, as well as cooking their books to get into the EU to make their economy look more stable than it really was.
Greece can export to any country it wishes, if it has goods or resources that other countries want. If Greece can produce the Germans really want, they'll export to Germany all the way to an internal German trade deficit.
The entire EU would be quite happy if Greece turned into a workers' paradise tomorrow, but no other country is going to pay to fix the mess corrupt Greek governments have left behind unless the Greek situation threatens the stability of their own economies.
Greece can export to any country it wishes, if it has goods or resources that other countries want. If Greece can produce the Germans really want, they'll export to Germany all the way to an internal German trade deficit.
The entire EU would be quite happy if Greece turned into a workers' paradise tomorrow, but no other country is going to pay to fix the mess corrupt Greek governments have left behind unless the Greek situation threatens the stability of their own economies.