Germany is the country that has never repaid its debts. It has no standing to lecture other nations

[Pekelo]

stating Germany never repaid its debt is a factual mistake.

First I posted they never repaid the WW1 debt*, but apparently they actually did, although only 5 years ago:

"Germany is finally paying off World War I reparations, with the last 70 million euro (£60m) payment drawing the debt to a close. Interest on loans taken out to the pay the debt will be settled on Sunday, the 20th anniversary of German reunification.Oct 2, 2010"

So I guess we could give the Greeks 90 years to repay the German debt...

*This is the heavily reduced debt:

" Following the Great Depression in 1929, Germany’s debt was cut to 112 billion marks, payable over a period of 59 years. "

http://qz.com/290183/in-2014-countries-are-still-paying-off-debt-from-world-war-one/

 

[Ditch]

First I posted they never repaid the WW1 debt*, but apparently they actually did, although only 5 years ago:

"Germany is finally paying off World War I reparations, with the last 70 million euro (£60m) payment drawing the debt to a close. Interest on loans taken out to the pay the debt will be settled on Sunday, the 20th anniversary of German reunification.Oct 2, 2010"

So I guess we could give the Greeks 90 years to repay the German debt...

*This is the heavily reduced debt:

" Following the Great Depression in 1929, Germany’s debt was cut to 112 billion marks, payable over a period of 59 years. "

http://qz.com/290183/in-2014-countries-are-still-paying-off-debt-from-world-war-one/

Uh-oh, I hope volpunter has been taking his pills today.:eek:

 

[TimtheEnchanter]

The biggest problem is Greece is their culture. They are corrupt, lazy, arrogant bunch of A holes who do not pay any taxes. I mean the whole frigging country is one, big underground economy. They need tax reforms first and foremost!
P.S.
I just came back from Europe(the Balkans) for that matter.....

 

[zdreg]

it's a moot point. Greece is broke, just like Germany was broke. You can either make them pay for their sins or help them get back on their feet and join the world economy.

After facts and figures this thread descended into the typical Nazi and Worldwar 2 accusations against Germany and now we reached a new low point with the educated and wise Visaria arriving. Time for me to check out and let two wise men talk to each other about historical facts and muse about future events.

Should get quite entertaining with one not even knowing who paid what in Europe and the other not knowing anything about European institutions. Dumb and dumber quite literally.

Cheers

"Time for me to check out"
you are like the residents of a roach motel. you check in but you never check out(disappear). too bad.

 

[zdreg]

actually this isn't quite accurate. Pikketty had it correct however. Germany received --Wiki says 50%, Piketty says 60%-- debt relief, but in any case not 90%, and Greece was a party to the agreement. Germany was given 30 years (according to Wiki) to repay the banks and governments it owed money to and has fulfilled its obligation under the agreement..

It seems the Gavin Schalliol Translation of the Die Zeit interview at the original link has been taken down. . Here is a link to another copy of Schalliol's translation, posted at zero hedge, that is working for the moment at least. It looks as though zero hedge is not bothered by copyright issues. http://www.zerohedge.com/news/2015-...ebts-it-has-no-standing-lecture-other-nations

"It looks as though zero hedge is not bothered by copyright issues"
your posts always contain a throwaway line. you never miss a chance to make a negative comment about people or websites on the right.

 

[volpunter]

Poor Greeks. Their pride must be hurt and what was the preferred term again? Oh yes DIGNITY

Lol

Yes. The transition will be hell, but at least the economic shock absorbers will be inflation, FX, etc. Not human lives.

 

[zdreg]

debt is all very simple. if you are small and owe money the bank owns you. if you owe the bank a very large sum of money you own the bank.

bottom line is don't be a piker. never go bankrupt for a small amount of money.

which one, dear readers, is Greece?

 

[zdreg]

Yes. The transition will be hell, but at least the economic shock absorbers will be inflation, FX, etc. Not human lives.

"not human lives."
noam chomsky would disagree.

people suffer great stress under runaway inflation. therefore it does shorten human lives.

 

[zdreg]

Some numbers about Greece since 2009:

infant mortality +43%
suicides +45%
hiv among drug-users +3226%

http://www.knack.be/nieuws/wetensch...gen-in-griekenland/article-normal-130217.html

medical equipment costs much more in greece than in germany because of corruption. it would not be surprising if the price of unused needles has spiked and there is a scarcity of them. shared needles is probably the cause of the spike in hiv infections.

 

[volpunter]

It has been working perfectly. Debt as percent of GDP in Spain is now lower than in Italy. The situation won't change from a day to another. But by wast agreement of most economists austerity in mentioned countries has turned the death spiral around and finances are starting to look up.but I know you hate everything that smells remotely like austerity

Wait, what?

Can you please define "work" in your above sentence? Because I've got news for you, it's not "working" in Spain, or Italy, etc. Austerity...lol! What's Spain's youth unemployment rate again? What's Italy's debt 2 GDP? I mean, we could go on and on with these guys.

Podemos is looking at Greece and salivating right now.