Posted on 07/06/2015 10:04:32 AM PDT by SeekAndFind
He’s right about that.
And the Greeks never paid reparations for all those Persians killed at Thermopylae, either... (/s)
“It Has No Standing To Lecture Other Nations”
Maybe not, but I doubt they are obligated to continue paying for the people of Greece forever either.
The ramblings of a socialist. Perhaps he should call his new debt restructuring plan “Versailles II”. What an ahole.
Yes, but it did allow itself to be delved into the depth of impossible debt that WWI ‘victors’ forced on it. That debt and despair pushed post-WWI Germany into Nazi Germany and we all know what happened there.
I’m not saying this is the case with Greece because we live in a world that has been forced to be Global, financially. Business will find some acceptable means to keep the income flow viable.
And so in one sense it would be right for Germany to pass the blessing on to Greece.
But in another sense this might not be the right time for it. If Greece is not trying anywhere close to as hard as it can to stanch the waste.
True, with globalization a “fire sale” on Greece becomes possible.
RE: And the Greeks never paid reparations for all those Persians killed at Thermopylae, either... (/s)
Well, with Obama on Iran’s side, they just might eventually be in the position to demand that from Greece...
The German banks made loans to the Greek government for the construction of among other things, the Olympic park and the subway system, which were built at enormous profit by German engineering and construction firms.
Those loans, and the terms under which they were granted, were not economically sound. What happens when a bank makes a bad loan is that they take a loss on the principal and restructure the remaining principle under terms that are feasible. This is what the Germans REFUSED to do, instead, nationalizing the bad debt by taking it out of the German banking system and placing it in the European Central Bank
Oh good grief (chuckling ruefully)
In fact, the provisions of the Treaty of Versailles made Germany resentful of the rest of Europe. The 1920’s were essentially a time where the National Socialists on the extreme Right and the Communists on the extreme Left were fighting to see who would eventually take over Germany. Can you imagine what would have happened if the Communists won out by the early 1930’s and how that could have drastically altered the history of Europe?
RE: Germany Makes Final WW1 Debt Payment
Are they liable to pay anything for WW II?
And now I'm just supposed to know that Germany never repaid its debts.
Huh? What?
People need to work and produce to be of value. The below is a Dec 2014 excerpt of an article on the 75% of Greeks who are allowed to retire early.
“In the public sector, 7.91% of pensioners retire between the ages of 26 and 50, 23.64% between 51 and 55, and 43.53% between 56 and 61. In IKA, 4.44% of pensioners retire between the ages of 26 and 50, 12.83% retire between 51 and 55, and 58.61% retire between 56 and 61. Meanwhile, in the so-called healthy funds, 91.6% of people retire before the national retirement age limit,” Vroutsis said.
See more at:
http://greece.greekreporter.com/2014/12/04/75-of-greek-pensioners-enjoy-early-retirement/#sthash.IQwewJ1e.dpuf
That will keep up till the Greek Atlas shrugs....
In either case of who would rise, the terms of the treaty were not practically viable, and the outcome was predicable.
If you look at the difference between the aftermath of WWI and WWII, the Marshall Plan was a much better investment and wholly more peaceable in the long run.
I guess we have a problem of fardels, Fardels.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.