I find it interesting that Germany wouldn't be sitting where they are now if Greece as well as the UK and the U.S. had not nearly wiped out its debt after WW2. Seems like Merkel & Germany have forgotten from whence they came.

And it seems like the rest of Europe has forgotten how Germany became a Nazi menace after WWI when the bankers refused to wipe out their war debt. If the banks have wiped that debt clean it's unlikely that Hilter and Co. would have ever come to power.

Those that forget the past are doomed to repeat it.

Germans: highly skilled. Pro business.
Greeks: lazy socialsts.

I think there is nothing else to understand here.

The greeks are fucked because of cultural issues. They will not save themselves or build up out of this mess because they are lazy and culturally want a free ride.

Germanies continued rise and self sufficiency is amazing.

That WWI stuff was much more than about bankers. Germany had to pay for western allies compensation about the war (reparation payments). France even occupied Ruhr valley after Germany failed to pay these compensations in time/ sufficiently.

you sure seem to hold a grudge... especially when you are insinuating that Merkel will be the next Hitler - at that point it becomes comical

and Greece has so far received 36 times the money Germany received through the Marshall Plan

I never said Merkel would become Hitler. I said she has forgotten how Germany would not be the Germany of today if it's loans were not forgiven after WW2.

The amount of money is immaterial. If Europe takes a hardline approach on Greek debt - Russia & Putin will step in and we will be off to the races with the resurgence of a possible facist / communistic state in Greece.

but you do understand that Greece does not come out of a recent war but has sneaked into the Euro, spent borrowed money on an over-inflated government, has no working tax system and now everyone should just forget about the money?

That's like you borrow me $500 so i can start my lemonade stand but instead i go drink with my buddies, do a few lines and when you ask me to repay you, i'd be saying "Sorry, money is gone, i dont have that lemonade stand either and please forget about the money, you never get it anyways."

and then i go to my other Euro buddies and tell them "go to pornlaw, he'll give you $500 for partying and doesn't need it back"

Putin has his own troubles. The days when they openhandedly supported every communist click in the world are over. Besides, I don't care. If they want communist or facist country, be my guest. They already have some sort of mix of the both.

France will bail them out - They are the only country that can't afford for the EU to fail...

French Banks hold almost $80 Billion of the Greek debt.....

Most likely don't anymore (video is from 2012).


EDIT:

France 42 billion. And that is France as a country, not banks. Banks have bailed out. Greek debt is now in the hands of national and international institutions. Foreign banks have only 2,4 billion from the total cake. And now probably not even that (that news is from january)

Greek debt crisis: Who has most to lose? - Jan. 28, 2015

The first greek bailouts were really bailouts for German and French banks

Greece really has no choice to leave the euro unless their debt is heavily forgiving. The euro is dysfunctional because it's a system used acrossed countries but there is no coordination or unity... It's just doomed to repeat.

Greece needs to drop out of the euro, things will suck for a couple of years but things will get fixed. If they stay in the euro it's just going to be this situation to infinity every couple years


And the problem there is the Spain and Portugal and all the other shaky nations will realize they can free themselves too and recover after a couple of years. Austerity doesn't work when done this quickly because you economy shrinks faster then the cuts do

But hey at least the US isn't the bad guy for a change. We love deficit spending!

PS writing this in Greece right now. Everyone seems to be doing ok. Cause they are broke already lol

Of course there is coordination and unity, but mainly for the euro only (and trade). That is the problem. Euro is just fine, countries aren't (like Greece).

sorry if it was already here somewhere, but food for thought:

Yep, prolly they'll go back to dracmas soon. :2 cents:

Good video, however not sure if fiscal union is necessary in case every nation will maintain its deficit spendings.. which unfortunately doesn't seems like will happen anytime soon.. so there are 3 ultimate options: fiscal union, very strict rules on deficit spendings or break up of the monetary union (end of EURO)..