Context: European IB Private High School in Istanbul, where I grew up.

In high school I had this maths teacher, he was Austrian, and the maths class was in German. He gave really good tips about how to approach the problems, how not to rush the calculation steps to avoid simple mistakes. He had an excellent sense of humor. We always had a good time in his classes.

Then one day I see him walking on a busy street, I say hello, he turns around and answers: "Ich red' mit Kanaken nur wenn Ich dafuer bezahlt bin, geh weg!"

This translates to "I only talk to Kanaken if I'm paid for it, go away"

Kanake (Kanaken in plural) is the word Germans and Austrian use for Turkish people who live in Germany. It is about as friendly as "nigger".

This was my first encounter with real open racism.

At the amount of money we talk about here no one takes someones word for it. They might say to the press "we didn't know Greece falsified the data", but i have serious doubts that organizations like ECB or EU have no way to verify Greece's economical situation before accepting to Eurozone. I believe the responsible parties knew perfectly well that Greece's economy would crumble under Euro, but they did it anyway. I don't believe their intent was malicious, but more like, "yeah we'll figure it out down the line".

One of the theories I read about was very intresting. Normally when developing countries default on sovereign debt, austerity measures are imposed on them BUT a devaluation of their currency boosts their foreign trade, so they have a chance to recover in time. In 2010 they bailed Greece out and introduced the austerity measures but couldn't devalue EURO, for obvious reasons. So the austerity measures caused for the GDP to shrink, but there was no incentive for the foreign trade to balance it out. Most people who were against the bail out back then were hushed. This bail-out gave time to big investors to leave Greece without losses. If Greece was allowed to default back then only private banks would be affected, EURO might have lost some value, but overall it wouldn't be as bad as now.