Author Topic: Germany profits Billions from bail out loans to Greece  (Read 1690 times)

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Offline Znord737

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Germany profits Billions from bail out loans to Greece
« on: July 14, 2017, 06:54:16 PM »
https://global.handelsblatt.com/finance/germany-profits-from-greek-debt-crisis-796637?utm_source=newsletter&utm_medium=mail&utm_campaign=weeklyreg

This makes interesting reading.  The link above should take you right to the article.

Even the Germans themselves are now of the Opinion that morally they are wrong making so much profit pout of other peoples misfortunes.

It would be nice if Germany experienced some of the hardships that Greece has had to put up with for several or more years .

Znord737

Offline susanna

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Re: Germany profits Billions from bail out loans to Greece
« Reply #1 on: July 14, 2017, 07:28:52 PM »
I was just wondering yesterday how many people in other European countries would wait patiently for up to 2 YEARS for their first pension payment after official retirement?  Greeks have been through so many trials and tribulations in living memory that this "minor" problem is hardly ever mentioned.  They (we) just soldier on!  I can't imagine many Brits taking a similar situation without complaint.

Offline ericrobert

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Re: Germany profits Billions from bail out loans to Greece
« Reply #2 on: July 14, 2017, 08:54:23 PM »
Znord 737
"it would be nice if Germany could suffer what other countries have had to suffer "
Is it Germany's fault that Greece has been run so badly for so long ?
If you mismanage your finances ...guess what you have  to borrow ......and people that lend money charge interest

Offline susanna

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Re: Germany profits Billions from bail out loans to Greece
« Reply #3 on: July 14, 2017, 09:47:29 PM »
It should be noted, though, that Greece had NO debt before it was persuaded to join the Euro.  Persuaded both by its own politicians and other European countries eager to expand the euro zone. 

Offline Dave Jones

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Re: Germany profits Billions from bail out loans to Greece
« Reply #4 on: July 16, 2017, 02:07:27 AM »
All this is exactly what Yannis Varoufakis has being saying for some time now. The bailouts have only served to pay back the German banks and prevent them from going bust. They tempted the Greeks with high interest loans through their own greed and stupidity. They now expect all Greeks to suffer through a vicious austerity programme. My 94 year old aunt's pension has been halved...I wonder how the Germans would have reacted if their pensions had been halved!

Offline Banksy

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Re: Germany profits Billions from bail out loans to Greece
« Reply #5 on: July 16, 2017, 07:27:54 AM »
Let alone if over 40% of young Germans were unemployed with little prospect of finding a job in the next few years.

Offline Dave Jones

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Re: Germany profits Billions from bail out loans to Greece
« Reply #6 on: July 16, 2017, 01:04:11 PM »
And adult unemployment at 26% - the highest in the EU

And a country broken, bust and angry

The profligate German banks are laughing

Offline jrk

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Re: Germany profits Billions from bail out loans to Greece
« Reply #7 on: July 16, 2017, 08:27:19 PM »
Perhaps Greece should leave the EU, ditch the Euro, declare  ankruptcy (Greece is bankrupt). In short innact Grexit, but the Greeks do not have what it takes it seems. It is the fault of the Germans, is the mantra.
« Last Edit: July 16, 2017, 08:39:23 PM by jrk »

Offline Denis O

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Re: Germany profits Billions from bail out loans to Greece
« Reply #8 on: July 16, 2017, 09:04:53 PM »
Actually, the Greeks do have the minerals to tell the EU to poke it. That's exactly what they did a couple of years ago, in significantly greater numbers than the Brits did. Something around 73% of the population decided they wanted to leave. It's the government and Tsipras who said we'd prefer to take it up the jacksy for the foreseeable future.

Offline Bob

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Re: Germany profits Billions from bail out loans to Greece
« Reply #9 on: July 16, 2017, 10:57:37 PM »
Denis O ... Anybody,

Is my memory playing tricks? I have it in the back of my mind that the referendum held in Greece had nothing to do with leaving the EU. Wasn't it about whether Greece refused the EU offer that was on the table. The populace, as I recall voted to refuse it and so SYRIZA, in their wisdom, decided to ignore the result and then accepted an even worse deal! I could be wrong but as far as I am aware most Greeks want to stay in Europe.
Photographers are violent people. First they frame you, then they shoot you, then they hang you on the wall.
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Offline Denis O

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Re: Germany profits Billions from bail out loans to Greece
« Reply #10 on: July 17, 2017, 08:40:37 AM »
I think you're right Bob but the knock on effect was that Greece would be out of the EU. It was, in essence, a Grexit.

Offline Bob

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Re: Germany profits Billions from bail out loans to Greece
« Reply #11 on: July 17, 2017, 10:31:50 AM »
I think you're right Bob but the knock on effect was that Greece would be out of the EU. It was, in essence, a Grexit.
I doubt that as most Greeks are happy to be in Europe as any sensible person would be! ;D
Photographers are violent people. First they frame you, then they shoot you, then they hang you on the wall.
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Offline Wynne

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Re: Germany profits Billions from bail out loans to Greece
« Reply #12 on: July 17, 2017, 02:36:36 PM »
https://commons.wikimedia.org/wiki/File:Distribution_of_Wealth_in_Greece.svg

The bottom 40 percent own 5 percent of the wealth in Greece.  That's not Germany's fault.  Perhaps the Greek government should start using the tax system to redistribute some of this wealth :o

Offline jrk

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Re: Germany profits Billions from bail out loans to Greece
« Reply #13 on: July 22, 2017, 08:19:56 AM »

Offline Bob

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Re: Germany profits Billions from bail out loans to Greece
« Reply #14 on: July 22, 2017, 10:28:44 AM »
The Americans reckon that Greece should go back to the Drachma.

https://www.theguardian.com/world/2017/feb/08/trump-envoy-declares-odds-on-greece-will-break-from-euro

Ha ha! The Americans showed how stupid they can be by electing Donald Trump as their President.
Photographers are violent people. First they frame you, then they shoot you, then they hang you on the wall.
- Anon.

 

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