routsounmanman said:
Not to mention Ireland, Portugal and Spain had half as much austerity as Greece did. And speaking of free passes, Germany was the first country to have violated the deficit rules back in 2008 if I recall correctly, free pass. And why exactly is Germany allowed to have such a huge trade surplus? That's against EU rules as well. |
That trade surplus is probably what they used to pay for all these loans but lets not forget Germany has a huge national debt of its own. Greece defaulting on its debt is only going to increase their national debt when its realised they won't be getting that back. That will take them well over 2 trillion of debt in euro's. That's then more interest the Germans have to pay because of Greece defaulting, more cut backs in Germany. This ain't going to do down well.
http://www.nationaldebtclocks.org/debtclock/germany
France is already in a much worse position than Germany too;
http://www.nationaldebtclocks.org/debtclock/france
and they will lose far more with a Greek default.
