9 years ago
3
Thomas Piketty: “Germany has never repaid.”
In a forceful interview with German newspaper Die Zeit, the star economist Thomas Piketty calls for a major conference on debt.
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"Deutschland hat nie bezahlt"
Der Starökonom Thomas Piketty fordert eine große Schuldenkonferenz. Gerade Deutschland dürfe den Griechen Hilfe nicht verweigern
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I've added a related link where Bershidsky argues that Greece and Germany cannot be compared this way. There's valid points made in both of these articles.
It's interesting to compare the two countries at the time of consideration of loan write-offs. Greece has hidden it's deadbeat ways for ten years or so, from the EU with the help of Goldman-Sachs, although the EU all really knew it was doing it and kept lending. Germany in the 1950s had been responsible for 2 world wars in the space of 30 years resulting in the death of tens of millions of people.
This is not a question of deserving or not deserving. It's a question of pragmatism, as it was with Germany.
Greece will not pay the debts, because it's almost mathematically impossible for them to do so, five years of reforms only made things worse, and we've to figure out what solution will give the best possible outcome on this situation without entering in a pointless blame shifting game.
We can't even pretend the Greeks are the only responsible, the international community covered the all the lies of the Greek governments and even wants to put the liars back in power. The Greeks were as deceived as the rest of the Europeans (except for our leaders that always knew). Every political pundit and it's pet likes to talk about the priests wage and the tax collection (or lack of it), but in the last five years I've not seen the IMF or the Eurogroup doing anything to get Greece to change those things. Those that were quick to demand reductions on wages or never quick to demand reforms to close tax loopholes, those that were quick to demand dismantling the state were never quick to demand the end of laws that only benefit big companies.