German Hypocricy knows no bounds – especially in respect of Greece!
Twice during the 20th Century, Germany left Europe in a mess. Now, in the 21st Century, it is their intransigence rather than their high explosives which may once again create European chaos.
Germany had to pay reparations after WW1. However, after its defeat in WW2, reparation payments were NOT resumed. In addition, there was another outstanding debt comprising of what the German Weimar Republic had been using to pay reparations. They had to borrow to pay.
In 1953, an international conference decided that Germany could could defer some of the debt until East and West Germany were reunified – although because a reunification was though to be unlikely, this was effectively a debt write-off.
By 1980 West Germany had repaid some of the debt although the remainder (according to the 1953 agreement) would be serviced for another 20 years.
The final payment was due on 3 October 2010 which was the the 20th anniversary of German reunification.
Over 10% of this debt, about 20 million euros, has never been paid.
So please Germany, remember that Europe has shown you mercy on more than one occasion.
Time to return the compliment and defer the WHOLE of Greece’s existing debt for – what shall we say? 30 years?
….and YOU can pick up ALL the interest payments.
(THAT, my Greek friends, is how to negotiate with the Germans.)