Better save than sorry

“It’s not like we don’t trust you or anything, Greece,” Germany said. “It’s just that we don’t trust you.”

Profiting the most from the EU by being its biggest winner (exporter), when push comes to shove, Germany always has to shell out the most too.

That’s the part they don’t like, understandably – that amount up there (in billions)  is what Germany will be paying to bail out Greece. And they will help bail them out too, of course. But with another regional election rolling around in Germany again and all, Merkel and Co. are going to make the Greeks agree to save until it hurts first.

“If Greece is ready to accept tough measures, not just in one year but over several years, then we have a good chance to secure the stability of the euro for us all.”

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2 responses

  1. If it has to be shared this way, it’s only fair. Would it be any better if Malta were paying 8.38 billion and Germany 0.03? Unfortunately, this is just a band-aid on a limb that needs euramputation.

  2. As if anyone who loans them anything will be paid back…. I think the guy from Ifo is right, however…

    Germany would do better to bite the bullet on Greece, because it gives them a way to back out on the eventual cost of propping up the insolvent bums in Italy, Spain, Portugal, Ireland, etal.

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