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for Klaus; Greek crisis and German bailout speculation
Topic Started: Sep 23 2011, 05:29 PM (506 Views)
AndyD
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Senior Carp
I can't see the original article but here's an idea. Perhaps Germany should simply pay back the estimated 95 billion it owes Greece.
Every morning the soul is once again as good as new, and again one offers it to one's brothers & sisters in life.

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jon-nyc
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Cheers
Maybe the Brits should sell the Elgin marbles and give the proceeds to Greece.
In my defense, I was left unsupervised.
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AndyD
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Senior Carp
Don't you mean give them back? We can start a world-wide giving back it you like.

Point I was thinking of was that Germany is most strident about banishing Greece for its fiscal irresponsibility. Yet Germany was the worlds largest debtor after both world wars and in both instances owed its recovery to debt relief on a massive scale.

Germany confiscated all the Greece gold treasury reserves in WW2 as a loan to cover the costs of the occupation, and this loan remains unpaid, the loan now being worth 95 billion US dollars.
Every morning the soul is once again as good as new, and again one offers it to one's brothers & sisters in life.

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Klaus
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HOLY CARP!!!
AndyD
Oct 31 2011, 12:26 PM
Don't you mean give them back? We can start a world-wide giving back it you like.

Point I was thinking of was that Germany is most strident about banishing Greece for its fiscal irresponsibility. Yet Germany was the worlds largest debtor after both world wars and in both instances owed its recovery to debt relief on a massive scale.

Germany confiscated all the Greece gold treasury reserves in WW2 as a loan to cover the costs of the occupation, and this loan remains unpaid, the loan now being worth 95 billion US dollars.
:spit:

This has all been settled a long time ago in the 2+4 treaty, which was (in the Paris charter) also signed by Greece.

Trifonov Fleisher Klaus Sokolov Zimmerman
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Klaus
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HOLY CARP!!!
ivorythumper
Oct 31 2011, 11:35 AM
I agree. We are told time and again that these banks, let alone countries, are "too big to fail".
I for one think that this whole "too big too fail" problem is quite similar to forest fires: If you douse every little fire, then the brushwood will become larger and larger until you will finally have a fire that is too big to be doused. However, if you let these little fires burn, then most of the healthy trees will survive and there will never be a huge fire, because the brushwood will be removed by the small fires regularly.
Trifonov Fleisher Klaus Sokolov Zimmerman
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Kincaid
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HOLY CARP!!!
Meh, my $1k of stock in the European Index Fund is still only worth $869.
Kincaid - disgusted Republican Partisan since 2006.
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AndyD
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Senior Carp
I thought you'd be citing the '53 London agreement.
Nevertheless, from what I've heard and read, the Greeks still remember rather simplistically that Germans destroyed their country and massacred thousands.
It seems it doesn't matter to them how much you've helped subsidise them over the years.
I know in reality you are not going to honour the 'loan', it was Nazi looting, such is war; and if you did repay there would be a queue of countries at your door .
But I'm guessing the Greeks will continue to bring up war reparations, they have not yet drawn a final line.

Things are not helped by countries (I'm not sure which) borrowing at 1-2% interest and then lending that money to Greece at 5-6%
Every morning the soul is once again as good as new, and again one offers it to one's brothers & sisters in life.

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