Player2 said:
So you don't know. They did to make money. Which is what banks do. Since the economy from those countries isn't as healthy as Germany's (and BCE couldn't buy public debt, now it kinda can, but guess who opposed to it initially? Germany.) they pay way higher interests. Of course it's risky, but since countries cannot let banks fall, why not? They have been making huge profits so far, profits that will outwaight the losses the may suffer if Greece end up not paying all its debt. PASOK and New Democracy spent what they didn't have because corruption. Was that targeted by the troika? Nope. Just take more money from citizens. And the priorities... oh god. Buy new military aircraft from USA? Ok, that's important. People not being able to pay their electric bill or gas? No big deal. Raise taxes even more. |
Your response hardly seems measured and much of it doesn't make much sense. It seems more an emotional response rather than a realistic one.
No one wanted Greece to fail but there just wasn't the political maturity or the will of the people in Greece to accept a lower standard of living. France and Germany have been massively financially damaged by the incompetence of Greece in running their own affairs. It's getting a bit annoying now reading half-baked theories with zero logic to them. At worst you can criticise France and Germany of helping Greece too much resulting in a even bigger pit for Greece to climb out of. They should have read the signs early and been more aggressive in their demands on Greece.
However I would make the point that the biggest problem was the currency union. Greece needed to make decisions that only a country with its own currency could have made ,it was their decision to join the euro though but it has been like a cancer to the Greek economy.